If you’re looking to lease a commercial space, it can be intimidating due to the complexity of the task. Here is a step by step guide that will walk you through the process and make it easier.
Step 1: Determine Your Needs
Before searching for a commercial space, it’s important to determine your needs. You’ll want to consider factors like size, location, budget, type of lease, amenities, parking, and others. Create a comprehensive list of your needs as this will narrow down the options and make it easier for you to find the perfect space to lease.
Step 2: Research Available Spaces
Once you know what your needs are, you can start researching the different commercial spaces that are available. Look for spaces that fit your needs and compare their prices side by side. You can do this online using websites such as Zillow or you can use a real estate agent to guide you through your options.
Step 3: Contact the Lessor
Once you’ve narrowed down your choices, contact the lessor to arrange a viewing of the property. During the viewing, take special care to ask any questions you may have and to survey the space. If you are interested, don’t forget to bring your checklist of needs that you made in step 1.
Step 4: Negotiate
After you’ve had a chance to view and assess a few different properties, you can begin to negotiate the terms of the lease. Take your time and negotiate a fair deal. Make sure to discuss any desired changes to the space, lowering of the rent, length of the lease, and any fees the lessor may require.
Step 5: Finalize the Deal
Once the lessor and lessee have agreed, the deal needs to be finalized. Get the lease in writing, complete any paperwork that may be necessary, and sign all documents. You may want to hire a lawyer or an accountant to review the lease to make sure you understand all aspects of it.
Other Considerations When Leasing Commercial Space
In addition to going through the steps of how to lease a commercial space, there are some other considerations you should make. Here are some tips and items to review when looking for the right commercial space:
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Determine the zoning of the property: Make sure that the property is in an area that is zoned properly for your business. This is important because it will determine the types of activities you are allowed to have in the space.
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Research the neighborhood: Explore the surrounding area where the potential commercial space is located. Make sure it is in a good area that has the right amenities and services your business needs available.
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Read the lease agreement carefully: Make sure to read through the entire lease to ensure that you understand all the terms of the agreement.
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Consider costs associated with renovations: If you’re leasing a space that needs to be renovated, you’ll need to factor in the cost of the renovations when considering the price.
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Get your business license: In many states, you’ll need to obtain a business license before you can lease the commercial space.
Following these steps and considering the factors listed here will help make leasing a commercial space much easier. With the right preparation and research, you can find the perfect property to fit your needs.
