If you are currently looking for a commercial space for lease, you might be overwhelmed with all the options. It can be hard to know what the very best spot for your business is, and you should definitely look around a lot to find what the choices are. There will be differences in price, quality and location depending on what retail space for rent you are looking into getting. If you are thinking about commercial property for rent, you should make sure to visit several places and talk to the landlord for a long time before you sign a contract. You want to make sure you get along and will be able to work together effectively.
Another thing to consider about commercial space for lease is that there is lots of information available online and from other resources, and you should learn as much as you can about it before you embark on a search for the perfect location. You shouldn’t trust all the resources though and you should make sure that any information you get comes from a credible source that is well versed in the details of business space for rent.
You don’t want to get involved with anyone who is too new to the industry, because one of the most important things you can do is find someone who has lots of experience. If you want to know more about this growing industry, keep reading to learn the truth behind some common myths surrounding the specifics of commercial space for lease.
Myth #1: The only thing that matters is price. False.
You should also consider aspects of the office like location, feeling of the neighborhood, safety of the surrounding area, and quality of the structure. If you are tight on money, you might have to spend more time looking but you should still be able to find a great spot on a budget.
Myth #2: Once I pay the monthly rent, there are no other expenses involved. False.
The Americans with Disabilities Act (ADA) requires all businesses that are open to the public or those that employ 15 people or more to have premises that are accessible to disabled people. This applies to rented retail and commercial spaces — the most important part of this remember is that you may be responsible for installing the necessary fixtures to make your business accessible to the public.
Myth #3: The landlord will take care of all upkeep at the building. False.
As with residential rentals, commercial real estate may entail extra costs, such as maintenance fees, upkeep for shared facilities (Common Area Maintenance or CAM), and so on. Also, keep in mind that in addition to renting commercial spaces and paying monthly rent, you may have to consider costs like renovation, decorating, IT system upgrades, and a number of other issues. You should make sure there’s room in your budget to cover any extra or unexpected monthly expenses.
Myth #4: My company would be better off buying a space instead of throwing money away on rent. False.
It can definitely be frustrating sometimes to feel like you are throwing money away on rent, but it can actually be a great investment for businesses who can’t afford to pay expensive mortgages. If you’re looking for a short term solution, this could also be a great option for your company because it doesn’t require a long term commitment. More can be found here.