When it comes to renting out business property, whether as your company expands into a larger premises or seeks out its first proper base, there are a lot of factors to consider. It is a big step for any business to move, whether into a shiny new office or a much grander distribution centre, so you need to be fully sure that it’s the right fit for your company’s aims and ambitions. To do this be sure to inspect the following aspects.
Location is vital. Move your company to the back and beyond and you will find it hard to both impress potential clients and attract new members of staff. On the other hand, splashing out on a new office block in a city centre can be incredibly expensive and financially ruinous. It needs to be close to transport links for employees who don’t drive, with local shops and food outlets, whether you’re after retail property in London or industrial units to let in Nottingham.
Before beginning the search for a new business property you should have drawn up a budget, whether you’re looking to buy or rent. Ensure you stick to this closely and don’t be afraid to negotiate on price once you’ve found somewhere that is ideal. Don’t waste time and money looking at properties that are well out of your budget though, and if somewhere is charging too high a price don’t be afraid to walk away and look elsewhere.
Negotiating Your Commercial Lease:
No matter what your requirement is for a new business premise, it is also crucial you bear in mind that you will be bound by the terms you have agreed with your landlord within your commercial lease. Commercial leases are a complex area of law and in contrast to residential leases, are not standardised nor regulated. Therefore, the terms advertised within an estate agent’s listing aren’t always what you end up with on taking up a lease. You will therefore also need to account for costs for your commercial lease solicitors in negotiating the terms of your lease.
The size of the property is incredibly important, especially if your business is moving due to expansion. Always look for somewhere that is a little bit too big as this provides extra room in case everything goes really well and you need to grow even further. Always look around a property before agreeing to rent or buy as well. Some will be advertised as having huge amounts of space but when you get there they may have obstacles in the way that limits their size.
A nice-looking office interior will have a much more positive effect on employees than one that needs a bit of work. Check out the design of any property you hope to rent and be sure to ask the landlord what design changes you can make. Some will be flexible, while others may not allow for any to be made.
Look for all these things and ask about them when seeking your next business property to rent.
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