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Important considerations before leasing a commercial property

On Behalf of | Nov 8, 2018 | Commercial Real Estate

Perhaps you’re starting a new business and need an office location for your employees. Perhaps you have an existing business and need to expand into a bigger store location.

Regardless of your circumstances, if leasing a commercial property is necessary for you to run your business, you’ll want to consider the following before deciding on a location to lease:

Where is the property located?

Location is everything. If your business can operate further out of town, for example, you might save money on your lease. If your business needs to be in the city center, on the other hand, you’ll expect to pay more to rent the space. Different locations will also mean different situations relating to safety, ease of access for your customers, zoning rules and whether close-by companies could send additional business your way.

How much is the lease?

Affordability is also a key factor. It’s vital that the cost of the lease fits into your operational budget.

Is there adequate parking?

Your business needs enough convenient parking for both your customers and your employees. Make sure you fully understand the parking situation before you settle on a lease.

Are the zoning rules acceptable?

There have been many situations where a business signs a long-term lease, only to discover later that it can’t operate in the location because of zoning laws that won’t accommodate the intended use of the building.

Before you sign a long-term lease for a commercial property, you might want to have a qualified real estate attorney review the paperwork. Your real estate attorney will be able to evaluate the terms of the lease and the features of the property — in addition to your business needs — to ensure you’re entering into a suitable deal for your company.