Signing a commercial lease can be a challenging task. It would be best to ask prospective tenants several crucial questions throughout the process. Listed below in this blog are just some of the practical questions you should be sure to ask all potential tenants.
What Goods and Services Do You Provide?
Although this question may appear needless, it is critical to check that the type of business to be conducted on your commercial property is legal and is within the types of operations permitted in that area. Furthermore, answering this question allows you to determine whether the location and space are suitable for the possible client’s business.
How Long Have You Been In Business
This will disclose if the company is new or old, as well as its present level of success. Requesting a business plan is wise if the company is new or less than a year old. This can provide information on the following topics: Ownership of the managerial team, firm history, target market, operational budget, and predicted income for the following year.
Why Are You Relocating?
If they’re a well-known corporation migrating to your area, you should find out why they left their prior site. Depending on the business, moving can be expensive, and convincing customers and clients to come to the new location might be challenging. There must be a reason they left if they’re going to so much time and expense. It could be as simple as needing additional space, upgrading to a fancier structure, or relocating to a better neighborhood. It’s also possible that they were evicted from their previous lease for violating the terms of the agreement. They could also have left because of a conflict with the landlord or the building.
When Do You Want Your Lease To Start
Inquiring about occupancy will help you determine the start date of your lease. Deciding when you’ll be able to rent out the unoccupied property is also critical. If the facility is already occupied, find out when their lease expires and whether they can extend their stay. You should also consider if the current renter will be required to conduct any make-good work on the property when their lease expires and how long that would take.
Trust the Professionals at Clagett Enterprises for Your Realty Needs
Suppose you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your home purchase. In that case, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, development, and consulting, contact us online or call us at 301-665-6009. Follow us on Facebook, Twitter, and Pinterest to meet our team and see some of our beautiful homes.