For a small business owner searching for a business space for rent for the first time inspires both joy and fear. Even if their business has been operating for years out of a home office, moving into a commercial space still conveys a more official feeling, as well as being a possible outward sign of success to customers, depending on the property chosen, and, as most people can attest, appearances matter. There are countless possible points to consider when selecting a commercial property for rent, and not all apply to every business. However, here are three concerns that every business must consider when looking into commercial property.
- Budget: Before any properties can be viewed, or even really considered, the amount of money available for deposits and monthly rent must be established. Furthermore, the fact that commercial leases are different with every property, some include maintenance and some require the tenant to be responsible for property upkeep. Due to this, it is generally wise to leave some room in the budget to cover additional expenses beyond rent.
- Type of Property: The type of business and number of employees are vital concerns here. A company that performs marketing services requires different accommodations than women’s clothing boutique, with the first searching for a business space for rent and the second for retail space. The number of employees influences not just the necessary size, but other concerns as well. For example, any business that employs 15 or more people, or is open to the public, must have disability access.
- Location: Whether the focus is a small office or a retail space for lease, issues involving location must be taken into account. For example, if the business intends to present itself as an exclusive boutique catering to women of significant financial means, a commercial property in a middle-income neighborhood would not be a good selection. Safety also has much to do with location. Businesses must consider whether employees will be safe exiting the premises after business hours.
Although moving into a new commercial property, searching for the right commercial space for rent can be a hassle. However, the reward of nurturing a small business and making it succeed can offset the inconvenience easily.