Business Space for Lease
If you are starting a new business, leasing is a great option to save or cut down the initial expenses. Thanks to many leasing opportunities, you can lease out the space that you will need for the business.
The lease agreement should not only favor the landlord but it should also meet your needs or requirements.
Leasing – A Good Option
Not all businesses have enough capital to purchase their office or store space. Thanks to many leasing opportunities, you can lease out the space that you will need for the business. This is the best option and cost effective decision that you can make. In the process, a contract should be drafted between the landlord and the business owner. The lease agreement should not only favor the landlord but it should also meet your needs or requirements. Looking for lease space is quite easy as long as you know where to look for them.
To lease out business space, you have to identify your needs first and this includes the square footage, location, parking, and other relevant factors. You will have to find the ideal business location and once you find one, you can now contact the leasing agent. It would be best to pick at least 3 top locations and look into their terms, rates, and special considerations. Before making the final decision, try to visit the actual locations to conduct some inspection. At this point, you can now make the decision as to the best location. Negotiate for the lease terms with the agent or landlord.
Clarifications that You Should Do
Clarify the time where you will be using the common areas and check for the upkeep or security of the facility. During the negotiation, you can also ask other business owners in the building about their personal experiences. Try to inquire if the landlord can provide for special terms if you ask for it. It will not be a good idea to lease the business space for several years. Instead, lease out the space for a year but ask for a ‘renew’ option. Within a year, you can already gauge the performance of the business. If your experience is good and you love the landlord, you might as well renew the lease contract.
When leasing out the business space, don’t forget to inform the owner about the improvement you need. If the landlord won’t shoulder the expenses for the improvements, you can put it in the lease contract and the limitations. You will be the lessee so when the landlord provides you with a lease agreement, this signifies the start of negotiation. You don’t need to accept the agreement right away especially if you don’t like the terms; however, through negotiation, you can ask for changes as long as the landlord agrees. Start looking for business space that you can lease out today. Soon, you can start with the business operations.
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