Top Tips For Renting Commercial Property
With a wealth of new businesses (and existing ones on that matter) always looking at renting commercial property, we thought we’d put together our top tips for renting and what in particular to look out for when considering any properties which you look at. It can be a daunting task when looking at all the options for commercial space in your area, however with a few simple top tips, the task can become that somewhat easier and more straightforward.
- Ensure you’re prepared.
Always be sure to speak with your bank before looking at potential properties as they can offer invaluable advice and support, as well as ensuring you have a solid business plan and can borrow any money required to start your business.
- Put together your budget.
You need to know how much rent you can realistically afford when combined with other outgoings such as business rates. These can often be more than you think so always do your homework and put together a budget as one of the first things you do.
- Always research locations.
You need to know that the location you choose is the right location for your business and, as such, you need to spend time researching into whether a potential location is going to be right for you. Do you need a town centre location or would an out of town business park do? Knowing these things can save you a lot of money in the long run!
- How much space do you need?
As with the above; do your research and establish exactly how much space you’ll need and add a little bit extra to be on the safe side. At the end of the day; the last thing you want is to have a unit which is either far too big for your stock or far too small!
- Be flexible!
Never set your heart on a single property! Things happen and you won’t always get the property you really want! Always keep two or three in mind which you feel are suitable, ensuring that whichever you end up in, you’ll be happy. There’s nothing worse than setting your heart on a location and being disappointed when it falls through.
All in all, choosing commercial property for your business can be a long and daunting task; however it should be fun! Whether it’s your first business venture or your tenth, viewing and choosing premises should be an enjoyable experience and a valuable part of the planning process!