Renting commercial space can be a challenge for any business owner. Whether you need office space for a small business, a retail storefront, or a fully equipped laboratory, the commercial real estate you pick is important. Before renting or leasing, make sure to weigh some considerations for your commercial property.
The location of the commercial real estate you choose is vital to the success of your business. Does your business require high visibility and foot traffic? How close do you need to be to your clients. ? Also worth considering is access for you and your employees. Consider renting commercial real estate near a major highway, or on a public transportation route. Consider looking beyond Boston: rent in a suburb like Somerville, Woburn, Stoneham, Beverly, or Wakefield.
Signing a commercial property lease agreement is often a big investment. Make sure to understand beforehand what your budget is for monthly rent as well as upfront costs like a security deposit or custom modifications to the office space. Additionally, ask the property manager what fees may not be included in your lease, such as property taxes, utilities, or trash collection.
Every business is different, so think carefully about what your property needs are. Before renting or leasing, consider the number of employees, the number of customers to accommodate, meeting areas, storage space, or any other demands on the real estate you can imagine.
4) Long-term Plans
Hopefully, your company is growing. Look at your business plan and try to estimate what the demands of your business will be for its commercial property in three or five years. Pay extra attention if you are signing a long-term lease, and consider asking the property manager for an expansion space guarantee.
It’s okay to have a wish list of real estate amenities when you renting or leasing. Do you want an on-site gym, free parking, or nearby shops and restaurants to enjoy on lunch breaks? Having both personal and business services near your commercial property could make your company surprisingly more attractive to employees and clients.