If you own a small local business then you are probably familiar with finding a space to rent that fits all your needs. It can be hard to find good and reliable information about how to go about finding a commercial rental property, so if you want to learn more about the process, here is some important info. These are some commonly believed myths that actually aren’t true, so make sure you understand the facts before finding a place to rent.
Myth #1: When I get a business space for rent, I can do whatever I want in the building. False!
You will have to follow rules and regulations for your specific retail space, because there are likely to be other businesses in the nearby vicinity and there will be certain rules for what you are and aren’t allowed to do. Also, there are governmental regulations, such as those set forth by the Americans with Disabilities Act (ADA). This organization requires that all public businesses, or private businesses that have 15 or more employees, be accessible to disabled people. You may be responsible for any costs that are associated with making sure your retail space for rent is accessible to everyone.
Myth #2: The only cost I am responsible for in my retail space is rent. False!
Similar to residential homes for rent, there are other costs that can be associated with keeping up the space, and these can be in addition to the monthly rent. This includes things like maintenance fees and upkeep for any shared facilities between you and other commercial renters. Some leases also require the tenant to pay for air conditioning, plumbing and water, so be prepared to spend more on your business space for rent than just paying the monthly fee to your landlord.
Myth #3: It doesn’t matter where the location is for my commercial property for rent, as long as I get a good price and get along with the landlord. False!
You should consider your company’s brand and image when you are looking for a business space for rent. Think about the location and how this fits in with your company’s current image and what you want it to be. You should also think about your customer base and where the best place is to reach them. If you run an accounting service, you probably don’t need to be in a high traffic area, but if you own a retail clothing store your company might benefit from being somewhere that allows you to have a window display for potential customers who are passing through the area.
Myth #4: If a space is for rent by a landlord, I can assume it is in a safe area and I don’t have to consider the safety of my employees. False!
As long as the commercial space for rent is in an area that is approved for commercial businesses, any landlord can rent it out to potential tenants. Just because a space is for rent does not mean it is safe, so if you have employees who stay late into the night then you should definitely think about their safety in the neighborhood. It’s a good idea to look into some crime statistics online before you commit to any one location, and you should talk to your employees and get their feedback. More on this topic.
