Whether you’re starting or expanding a business, you know more than anyone else the importance of finding the right space. This can be easier said than done. A business space has different requirements and expectations associated with it than a residential space. While a house is about taste, a business space is about issues like accessibility, safety, and much more. One of the first questions people often have when choosing a business space is whether to rent or buy — and the answer may surprise you. While buying a business space may be tempting at first, it can often lead to disaster. For one thing, buying a space is automatically more expensive, which means that you’re starting or expanding a business with an unnecessary expense — obviously, this is never a good idea. Furthermore, if in the future the business closes or moves, this leaves the owner of the space with the responsibility of selling it. For these reasons, business owners now tend to look for a business space for rent, particularly when retail is a factor. A retail space for lease can be changed in many ways to reflect the items being advertised, and for that matter is less expensive and burdensome than a space that is bought outright. But that doesn’t mean you should rent the first space you find. Below, we’ll look into some of the factors you should keep in mind when considering a retail space for lease.

Location, Location, Location

Location affects a business owner above so many other factors, especially when it comes to retail. Retail needs to be convenient for the customers, and the ideal retail spaces are easy to see and find. A good commercial space for rent not only has the interior space necessary to accommodate the items for sale — it also needs to be in a place where potential customers can see it and stop by, even if they weren’t initially planning to. When choosing a retail space for lease, you need to think about your target demographics, the competition, staying on budget, understanding state laws and taxes, and much more. While this can be intimidating at first, a good real estate agent will be able to point you in the right direction. Location also affects your current and potential employees. No employee working retail wants to drive out to the countryside — and if your retail space is that remote, they may also be skeptical of its future success. Think about their safety as well; you want to make sure they feel secure when walking to their cars at night. And certainly, don’t forget your brand. Does the location you’re considering fit your brand? If not, think about another option.

The Expectations Of Landlords

Just as you would if your were renting a house, you’ll have to deal with landlords when choosing a commercial space for lease. You want to ensure that you and your landlord have a cordial professional relationship — consider it another part of running the business. With that being said, before choosing a retail space for lease, you need to know that commercial leases can vary in a way that residential leases might not. Some require that the tenants are responsible for property upkeep and repairs, while others specify that the tenant must take care of things like air conditioning, plumbing, and more. Keep in mind how much that will cost when put against the necessary renovations and decorations.

Never Forget Employees

Good and loyal employees are the backbones of any business. We mentioned the importance of location — but it’s also important that you look out for your employees by assessing the safety of the building’s interior. Make sure that it’s free of allergens and irritants, as well as structurally sound. For that matter, the Americans with Disabilities Act also requires that if a business employs over 15 people, it must have premises accessible to the disabled — this would include a commercial property for rent.