The Success Factor for your Business
Making your business successful relies on many factors. Obviously, one of the big game changers for any business is location. If you are new to renting a commercial property, there are a few details you need to know before signing the bottom line. For instance, you’ll need to consider where you want to set up shop, how much space you need and what the designated use is for the commercial property. You’ll also need to coordinate your specific requirements such as amenities, utility usage and lease agreement details. For you to optimize your company’s success, it’s best to hire a professional property management company who understands the ins and outs of commercial property leases.
Here are some pointers about renting a commercial property without the headaches:
Do your homework – Every business is different. When you look at your company’s locational needs, what are you looking for? Do you need a large office space to accommodate plenty of cubicles and open meeting spaces? Are you looking for a prime retail location with lots of access to busy traffic? Or maybe you’d prefer a historical location that adds ambience to attract customers? By taking the time to list your specific wants and desires in a commercial property, you can narrow down your choices to just the right place!
Understand the basics about commercial leases – Commercial leases are different than residential leases. Basically, consumer protection laws are designed to protect residential renters with security deposit caps and privacy regulations. Also, many commercial leases can be for longer periods of time like five- or ten-year leases.
The good news is that commercial leases do have more flexibility in the negotiation process. Overall, you’ll find that each commercial lease is crafted individually because each business needs different property features and amenities. You should also be aware that commercial leases are legally binding and can’t be easily broken. With that in mind, a commercial property management company can help you coordinate exactly what you need for your business before you sign the lease.
Seek professional assistance – A professional property management company acts on your behalf in coordinating the commercial lease agreement. The property management company may itself own commercial spaces, or it may work with both you and the landlord as well as coordinate any issues with the property itself. Your management company will be your point of contact for anything related to your business location.
Whether you need office, retail, mixed-use or restaurant space, finding the best property for your business doesn’t need to be difficult. Just contact Ellicott Development to see our broad range of options. If you have any questions about available commercial rental properties in downtown Buffalo or western New York, visit our website today.