How To Find The Right Commercial Property To Lease

Finding a property for your business is exciting, but it can also be overwhelming. Therefore, whether you are relocating or finding your first commercial property to lease, these are a few tips to help you find the right commercial property to lease.

Make Your List

First, you need to list what you need in a commercial property. This often depends on the type of business you own and how much equipment you have. For example, are you looking for retail and office space for lease Doylestown PA? You should also identify your desired location. If you want any special features, such as high ceilings, write them down.

Also, don’t forget to ask your employees what they need or want in their workspaces. What features would make them feel comfortable, creative, motivated and productive? Then, calculate your budget. Writing down your needs helps you avoid leasing a property just because it is new or inexpensive. It allows you to get what you really need.

Do Your Research

You may want to work with a local realtor who can give you more information about the commercial properties available for lease in your desired area. These professionals can also give you information about the other businesses in the areas you are interested in. For example, you want to avoid opening the same type of business that is already established in the area, and there are businesses that should never be situated near each other, such as daycare centers and adult toy stores.

You should also compare rental rates in the area so that you know what you will need to pay or negotiate. Find out what factors can affect your insurance rate as well.

Negotiate Your Lease

Look over the lease for specific terms, such as the breakaway fees, rent due date, rent amount, lease period and any other fees. Negotiate all the terms you want, and walk away from landlords who will not negotiate. Also, avoid leases that require you to pay for major repairs or renovations.

As you determine your lease requirements, analyze your business goals and the market to get the best available property and lease terms.