Have you ever wondered why you can’t rent warehouses in some areas because of forbidding monthly rent charges? It is puzzling sometimes mainly because warehouses are often let out solely for storage purposes. The amount one has to part away with in the name of renting a warehouse should therefore be the same irrespective of where the warehouse is. Wrong! Location and so many other factors can easily determine the rent charges of industrial space for lease in Vaughan. Read on to find out more!
This one is pretty much obvious. Expect to pay more if the warehouse you intend to let is located where security is or has always been an issue. The extra amount one pays could be for purposes of insuring the warehouse against theft and burglary. Insurance premium for such covers are always high. That is mainly because there is always a chance of the risk insured attaching. Most insurance companies also avoid covering premises in such areas. The few ones that often take the risk are as already explained, expensive. Your best bet is to consider another warehouse in the next street or the next neighborhood.
Gone are the days when warehouses featured tiles, ventilation and adequate lighting. Warehouses today come with the ‘complete package’. That is, cooling systems, flawless wiring and plumbing, modern skylights, automatic doors and so much more. It all boils down to what one needs to store in a warehouse. Agree on the rent with the landlord and the next thing you know is a warehouse customized to suit your needs. This mostly happens where the lease agreement extends to several years into the future. Take note though that you will have to pay more in instances where the warehouse owner remodels the premise to suit your needs. A better alternative is to find an age old warehouse and have it remodeled to suit your needs. You may also want to go for a lease that places the burden of minor repairs to the tenant.
An encumbrance is a legal term for any complaint filed against land. This is where attorneys often come in handy. You will need one to help you find out if there are complaints filed against the land on which the warehouse you intend to let is built. Be sure to find out the nature of the complaints if you intend to buy the warehouse. Any warehouse free of encumbrances will always give you the peace of mind that your lease period will end without any major issues. Lack of matters filed against the property will also uphold your legal right to enjoy use of the premises quietly. So if for one reason or another you find out there is a legal title issue or contention between two parties over the warehouse you intend to let, consider other options.
Tough market conditions will always affect what is happening in the real estate scene. If you have the patience, wait until inflation rates head south then look for a warehouse in a prime area. Take your time too to study the demand for warehouses in the area where your desired warehouse is. Warehouses in areas where industrial activities are high will cost you more. The higher the demand for warehouses, the more one will have to pay. It gets worse where there is a huge demand for warehouses in an area where there are just a handful of warehouses and there are no lots where new warehouses can be built.
Any sane landlord or property manager will want to know why you need a warehouse. You will have an easy time negotiating rent if you intend to store simple goods like food products, textiles or building materials. The same cannot be said about radioactive and flammable goods. You will have to pay more. It gets worse for radioactive goods. You may not even have a chance to negotiate with the landlord. That is simply because there are laws that outline where warehouses storing radioactive goods should be built and how they should be built.
Space is always an issue in the real estate sector. It doesn’t matter whether one is the market to let out property or buy. Space simply affects both rent as well as the actual price of the property in question. Your best bet is to know how to the warehouse management calculates spacing. You may also have to be on the lookout to avoid paying for nonexistent space. That means you may have to do your own measurement on the premise to ensure the size you are agreeing to in the lease is the actual size of the warehouse.
Has the warehouse ever been involved in a fire incidents, how old is it? Does it have a criminal record? All these things can in one way or another determine how much you will pay in term of rent. A new warehouse, free of any criminal record or previous fire incidents will cost more. Find out all these factors then find a way of raising them up while negotiating rent.