If you find yourself new to the world of commercial leasing, make sure that you look further than the utility costs and monthly rent. More importantly, there are five questions that you will want to ask yourself before you begin leasing for business.
- What Type of Lease Is Given?
When it comes to business leasing, there are a number of different leasing options available. Make sure that you know which type is being offered, what your obligations are, and what the obligations of the leaser are before committing to anything.
- Are the Terms Negotiable?
Finding out the flexibility of the landlord is important. Will they be willing to negotiate terms that work for both of you? If they are not, then being stuck with an inflexible landlord could become detrimental later on. Take a look at the terms, see where there is wiggle room, and talk to the landlord before signing anything.
- Can You Modify the Space?
There have been more than a few instances where a tenant made changes to the space without knowing if that was allowable. The results were expensive for the tenant. Know whether or not you can make changes to the space to accommodate business needs before you sign the lease.
- Who Are the Other Tenants?
While your business is the focus when you move in, there is the chance that other tenants could impact your business. Will there be other competitors on premises? What about other tenants who could have a negative impact on the way that you do business? Know the answers before you put your name on the dotted line.
- Are There Amenities?
Know the space before you sign. If you need a kitchen to accommodate staff, make sure that it is available. The Internet is a general requirement; make sure that there are the necessary connections. Make sure that the amenities that your business requires are not only available, but that they are also easy to access as well.