If you are like many other small business owners, you need to lease commercial space for a while before you purchase or build your own. However, choosing a commercial property and dealing with the lease details may seem overwhelming. These are tips to help you find the right lease.
Identify Your Needs
Your first task is to determine what you need in a commercial property. When you are interested in commercial property leasing West Chester PA, you have access to a significant variety of property types. Do you need office, retail or manufacturing space? You may even want to add some space for future growth. Don’t forget the amenities you may want. Don’t forget your budget.
Work With Real Estate Professionals
Your next task should be to find a reputable commercial real estate broker. Not only is searching for real estate a time-consuming task, but brokers have access to properties you may never find on your own. They can also narrow your search based on your wish list.
A broker and commercial attorney can also help you navigate your leasing agreement.
Review The Lease
Always get your lease conditions in writing, especially your rent amount and due date as well as your lease period. You should also discuss any breakaway costs. Make sure the lease stipulates how much you will be required to pay if you choose to break your lease early. If you have special provisions, such as insurance, subletting availability, maintenance fees and hours of operation.
Some commercial leases have demolition clauses that place the burden of replacing the roof, adding parking or renovating the property on your shoulders. Don’t be afraid to negotiate your lease terms. Most landlords will be somewhat flexible on different terms. However, avoid property owners who will not negotiate with you.
Speak With the Neighbors
You should also spend some time with the neighbors. Find out what other businesses are in the area and if any are direct competition. Also, avoid businesses that place your clients in uncomfortable or dangerous situations.
With a little time, work and negotiation, you can find the commercial property you need.