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5 Essential Pieces of Research for Leasing a Building

If you are going to lease a building for commercial purposes, then there are a few things that you should look into first. If it is the first time that you have taken out such a lease, then here are a few ideas about how to go about it. Remember that the more research you do and the more groundwork you lay, the more likely you are to have a positive outcome. Below are a few items you should always research.

The Property

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Make sure that your property is fit for purpose, and that you will not need to take any steps in order to make it so. If your business requires ventilation, make sure there is some. If you are going to employ staff, remember to make sure there are adequate bathroom facilities. You are going to be responsible for the property and any employees; therefore you need to know the requirements of both. Make a list of the necessities and take it along when viewing a property. Don’t leave anything to doubt, you don’t want be tied in a contract to a property that you cannot use.

The Site

Conduct  some research about areas that will provide you, your staff, and suppliers with easy access and public transport. If you rely heavily on a certain commodity, make sure that you are in a location that it can be easily distributed to. Not all employees will have transport, it is therefore essential to be near public transport if it will be needed.

Real Estate Company

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Do the research, make sure that the company you use for the rental is reputable and comes with some sort of recommendation. Sometimes the most professional looking agents are simply that; professional looking. Try to find a company that has a good track record with patrons on long leases. These will generally be the best.

Maintenance

If you settle on a property, you will need to find out about maintenance and repairs. The leasing company will often be responsible for both of these, but it is important to be sure. It is pointless carrying on discussions about a property, and later finding out it is not suitable because you are expected to carry out all maintenance. Ask the question first, and if the maintenance and repairs are to be shared responsibility, get the specifics written down so you can calculate their affordability.

Similar Properties

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Always ask businesses in neighboring spaces about the area, access, and transport. Ask if they have any specific problems, and if they would move if given the opportunity. It is likely that you will learn a lot about the pros and cons of the locality and buildings; it could even give you a clue as to cost. This simple act could give you a lot of information, you could find out whether a property is worth leasing or not.

These five pieces of research could help you lease the property of your dreams, or stop you leasing the one from your nightmares. When you consider the amount of time they will take, then surely it is worth the effort.

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