Finding office space for rent isn’t always as easy as one might expect. Jumping at the first available office you see might seem like the easiest route, but be careful with that – the terms of those offices for lease may end up being unattractive and expensive. When you rent an office for your business, you are paying for much more than space; instead, you are making an investment into a space that will help your business thrive and improve your bottom line. If you’re in the Clifton Park area, here are some tips you can use when looking for a commercial property for rent.
Network with Business Owners
First of all, it is never a bad idea to reach out to other business owners and ask them about the office space they are leasing. Many are often aware of available office space or of commercial property that is going to be available soon. Business owners – especially small business owners – talk to each other and get information on the businesses and properties around them. You can search for business networking groups in Clifton Park or you can join online forums and Facebook groups geared towards small business owners helping one another.
Perhaps the most valuable thing when talking to other business owners is that they can describe their own experiences with certain landlords and property owners. The owner that leases space to tenants is more crucial to a business’s success than one might think. “Bad” property owners can cause drama and issues that interfere with your ability to run your business, so if several local business owners give you negative feedback on a certain owner, it might be best to steer clear. Positive reviews of owners, on the other hand, can make your final decision much easier.
Drive Around the Market
You could walk, too. Simply getting in your car or scouring the area on foot looking for office rentals is never a bad idea and will give you an idea of what your office might look like and the areas you think it would be the most successful in. Driving and walking around the areas will allow you to locate office rentals that you may not be able to find online or through networking. While this may seem sort of boring, it is a critical part of your business’s future.
Ask questions, too. If you come across a busy commercial building that has one or two offices boarded up, try to find out why. Oftentimes, there is nothing wrong with them and they are just not leased at the moment so they may be the perfect fit for you. Of course, we often see “For Lease” signs all over, so calling the numbers and talking to the owners/landlords may give you a sense that you have found the right property.
What to Know Before Signing That Commercial Lease
There are many factors you need to know the ins and outs about before you pick the right commercial space for rent. First and foremost, don’t settle. Take your time (if you have it). Choosing office rentals is kind of like closing on your new house – it is an investment that needs to be made carefully. Good property owners will understand if you need to take a couple extra days to look over the lease agreement again before signing it, and they will also not be offended if you decide to have a contractor come assess the property, too. Be sure to know the tenant rights in your area, too.
Many owners will also understandably tack on more fees in addition to the rent, which can include everything from landscaping to cleaning and utilities. Commercial leases normally identify these as “TMI” in your lease agreement – it stands for taxes, maintenance, and insurance. While these are normally reasonable and fair, you need to read through them thoroughly to make sure. If you have an attorney, it might be worthwhile to have him or her look through the terms as well.
If the terms of the lease are not clear or if the owner makes you feel uneasy, it might be best to walk away. Even if you think the first place you look at is “the one,” you may still want to keep looking. Visit a few places, do your research on the various neighborhoods you might want to lease an office in, and stay open minded.
Overall, it takes time to find the right commercial property for rent, so prepare for that when you are looking for a new space for your business. If you network enough and do in-depth research and due diligence, you should definitely be able to find the right space for you.