Have you been considering becoming involved in commercial leasing? The process is not the most straightforward, which means you’ll need to do some research before you can get underway. But to help you get started, we’ve rounded up some of our top tips to help you along the way. Because there are so many different aspects to consider this list is by no means comprehensive, but it can help you get on the right track.
Build Your Budget
There’s more to your commercial lease than just the building. Consider that when you move to a new location, you’ll need to invest in a variety of additional costs besides only the price of your lease. Other bills like utilities, trash and recycling, and even water can add a significant amount to your monthly bills. Knowing what you can afford in total and making a detailed list of what you want and what it will cost can help you find the perfect match.
Consider Your Needs
Depending on your line of business, you’ll need to think critically about if there are any factors that you absolutely must have in your lease. If you need to be close to specific locations – like a hospital or airport, or if you need facilities like a loading dock, you’ll want to be sure to have these items on your checklist.
Work With Professionals
While it can be tempting to try to navigate the process of touring, interviewing, and even applying for leases on your own, having a broker or other professional is more than worth the cost. Along with getting more chances to see a greater range of facilities, having a broker means that you’ll have an experienced professional to help guide you through the entire process.
Tour and Evaluate
Tour as many properties as possible that fit your needs, as the more you see, the better your chances for finding the perfect fit. One of the many mistakes that first-time leases make is to settle too quickly. As you tour, make sure to make detailed notes and take plenty of pictures to help keep each building straight and to help you evaluate which will be best for you long-term.
At Clagett Enterprises, we have extensive experience serving the greater Frederick area and Western Maryland, since 1987. Our team is a full-service real estate company that’s ready to help you with your property management preventive maintenance needs. Speak with a Clagett professional at 301-665-6009, or request a proposal for preventive maintenance here. Make sure to connect with us on Facebook, Twitter, Pinterest, and YouTube.