Are you looking for a real estate space for lease and you don’t know where to start? Well, you’ve come to the right place. Compared to renting, leasing real estate property can help to grow your business, and whether you are transitioning from a home-based business or are looking to expand your business, leasing real estate space could be just what you’ve been looking for. But before you do so, you need to consider your target audience, workspace per employee, visibility, public transportation, proximity to amenities, and enough space to accommodate future expansion. Even with commercial real estate listings, choosing your next real estate space that will be best suited for your business needs can be a daunting task. In this exhaustive guide, we’ve outlined the best tips to help you find a real estate space for lease.
1. Hire A Commercial Real Estate Brokerage Firm
It’s crucial that you do your homework when looking for a commercial brokerage firm. Find a real estate broker that you feel comfortable working with. Today, you have the option of browsing through the internet for some of the best real estate brokerage firms. You can visit the site that you feel has what it takes to help you find the right property and at a reasonable price. The right real estate brokerage firm will help you to weigh out all that commercial real estate jargon in helping you find an unbiased solution that fits your business needs. The right real estate brokerage firm will help in interpreting the leases seeing that there are different types of lease agreements and in addition to this, they’ll come in handy in negotiating the payment structures.
But with so many real estate brokerage firms, finding the right one can be just as hard as finding a needle in a haystack. To help narrow down your search, below are tips to finding the right real estate brokerage firm, they include:
- Consider their experience
- Check certifications
- Check to ensure that they are insured
- They need to provide you with solutions
These tips will allow you to get to know the value and performance of the broker you’re planning to work with.
2. Serious Networking
Visit business owners who are located where you’re looking for a commercial space to lease. Most entrepreneurs and small business owners are very welcoming. They’ll show you the ropes, tell you about available spaces in the area, or spaces that will be available soon. You’ll also get to know about landlord-tenant relationships in the area. Dealing with a crooked landlord as a new business is not the best place to start. The relationship with your landlord cannot be overlooked – It may affect your business’ growth in the long run.
Join the local Chamber of Commerce, business network groups, merchants associations, and other groups. These associations are full of people who can advise you on the right direction to take. Be open and let others know that you’re searching for a commercial space. Most of these neighborhood groups have pages and boards where you can get information on available commercial spaces to rent.
3. Visit the Area
Visiting the areas you intend to open your business is also a great way to find a leasing space for your business. You can drive or walk through different neighborhoods to have an experience of how it would feel operating your business in a certain location. Among the things that you need to consider when visiting these areas include the size of the population, traffic, and the condition of the properties. While at it, you can always check for rental signs, leasing signs, and numbers that you can call. You never know, you might just find a hidden gem that will help to transform your business operations.
4. Create an RFP (Request for Proposal)
After visiting the areas you intend to open your business, you can create a powerful RFP and distribute it to buildings that have passed the test. This, you can do by directly handing the over to landlords or to their representatives. Soon after receiving the responses, you can make your assessments, compare quotes, and decide on the way to go.
When looking for a real estate space for lease, keep in mind the customers and clients you serve. Comparing multiple properties at a time will give you an idea of amenities, office rates, and lease terms offered in the area. Do a final walk-through before signing the lease document to be sure that the new space is what your business needed.