When choosing a property to lease for your business, there are many factors to consider. The most important thing is to ensure that the location is convenient for your customers and staff. You also need to make sure the building can support your business needs.
Leasing commercial property has many advantages over buying. It gives you the flexibility to move when your business grows or shrinks, and you don't have to worry about maintenance or capital gains tax if you sell the property later on.
Here are some questions to ask yourself when considering commercial leases:
1) What Are The Long-Term Prospects For This Location?
The location of your business is a key factor in choosing a commercial lease. You need to consider how much foot traffic there is and whether the area is likely to change significantly over the next few years. If you're renting an office or shop space, you'll want a busy street that's close to public transport and other amenities like cafes and shops.
2) Will You Be Able To Expand Your Business Into Other Areas Of The Building Later On?
When negotiating commercial leases, it's important to think about how quickly your business might grow and whether there would be room for expansion within the current lease term. If not, then this could present issues later on when your business needs more space due to growth or if another tenant moves out of another part of the building. It's also worth considering whether there will be any restrictions on subletting parts of the building later on or whether there would be restrictions around renovating parts of the building yourself.
3) Is There Enough Parking For Your Customers And Staff?
Parking is often a contentious issue in commercial leases, especially if you're renting space in an area with limited parking spots or where street parking isn't available. If there are restrictions on how many cars can be parked on-site at any given time, then this could be a problem if you're planning to set up an office where customers and staff need to come and go frequently.
4) Are There Restrictions On What You Can Do With The Space?
Many commercial leases have restrictions on what you can do with the space. If you're planning to use your commercial property as an office, then this isn't likely to be an issue. But if you're planning to run a retail business or operate a restaurant at the property, then there may be specific restrictions on what type of businesses can occupy that space.
If you require assistance in negotiating commercial leases, chat with a lawyer today.Share