Tips for Choosing a Good Commercial Space for Rent

Retail space in westland mi

Are you thinking about placing your business or a chain in a new town? One thing you’ll have to consider are the options for kinds of commercial space for rent that are available. There are a few things you’ll want to keep in mind when thinking about looking at a business space for rent. Luckily, as the economy has grown in the last few years, commercial real estate agents have seen positive trends in the latter half of last year. This means a good variety of options for you and your business! Here are a few things you’ll want to consider when thinking about a commercial space for rent.

  • Cost

In addition to the cost of renting, there may be additional fees or taxes that you’ll have to take into account when considering a commercial property for rent. Such extra costs could come from more general things like maintenance fees or general maintenance of shared facilities (otherwise known as CAM, short for Common Area Maintenance). Other costs that are easily forgotten about are the costs of any renovations you make on the space, decoration for enhancing your business, IT system upgrades that your business may require, etc. In line with the cost, be sure to read over your rent agreement carefully: some may require the tenant to be responsible for keeping up the property and doing repairs. Others may ask the tenant to assume responsibility for air conditioning, plumbing, heating, etc, which will also be additional costs and responsibilities.These factors all good things to take into account when first appraising a commercial space for rent.

  • Location, Location, Location

One of the most important questions you want to consider is if your location is in line with your business image. Does it reflect the business image you want to sell to your customers? If you’re thinking about a retail space for rent, you probably want it near to other retail spaces, where customers are already present, especially if you’re considering a large retail space for rent. Consider whether or not your location is aesthetically pleasing and if there is already traffic to that area. Is it in a central location? This will attract employees and customers alike. Picking the perfect location–especially if the need is there for your business-can be half the battle.

  • Safety

This is heavily tied to location. Will employees and customers alike feel comfortable there after dark and walking to their vehicles? This is also important for employees, especially if they feel unsafe being in the building or premises alone. You want to pick an area that is considered safe in the area, in order to attract more customers and people seeking work. Check local listings and talk to local people in the area to see what they recommend.
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