renting commercial property tagged posts

Commercial Lease Tips for Tenants

Commercial Lease Tips for TenantsGetting the right terms on your commercial lease is very important, as this is something you could be stuck with for many years.When renting from a good landlord, the terms of a lease will protect both parties. But how do you know you are in the right contract for your commercial property needs? Here are a few tips for tenants looking to lease commercial property.

Choose the Right Commerical Lease Length

Before you settle on a lease, it’s important to have an idea in mind of the length you want. Is this a permanent move? Is your choice temporary while you search for a better location? If you don’t plan on staying there long, you should negotiate a shorter lease of one to two years.

If on the other hand, your business is very dependent upon being the right location (for example, a restaurant) you would want to negotiate a longer lease, perhaps five to ten years.

Research Comparable Properties

The cost of rent is one of the most important considerations when it comes to looking for a commercial lease. Think of signing a lease as a negotiation, the more you know about similar properties in the area, the better equipped you are to negotiate favorable terms for your lease.

If you are aware that other similar properties in the area rent at a certain price, you can use this to counter landlords who are looking to get more than the fair market value. This research can be time-consuming and require an in-depth knowledge of the local commercial real estate market, which leads us into our final tip.

Find a Property Manager

Negotiating a commercial lease is not something you have to do alone. When you are in the process of growing and expanding your business the last thing you want to do is be bogged down with small details and time-consuming research.

A property manager with experience in the commercial real estate market will know how to find suitable properties and negotiate a lease that is in your best interest, freeing you up to focus on the important work of growing your business.

When renting commercial property, you will interact with the property manager more than the owner. If there are repairs to be made or negotiations, later on, having a good relationship with the property manager will be substantial.

At All Brevard Property Management, we are the right size to be able to give our clients individualized property management services.  We will leverage our years of experience in the local Space Coast property market to get you the lease you want.

Please contact us to learn more about our property management services in Brevard County, Florida, and how we can help you grow your business to new heights.

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