5 Quick Tips About Renting Commercial Space in 2022
Commercial renting is a process that takes time and effort to get it just right. You want to find the perfect space for your business, but you also don’t want to spend all of your time on this task either. That’s why we’ve put together 5 quick tips about renting commercial space in 2022!
List Your Office Space Requirements
Before you start looking for commercial space, you should have a list of requirements for the perfect office. This will help you to weed out properties that don’t fit your needs and save you time in the long run.
Here are some key questions to consider when listing your requirements:
- Do you want to remain in or around your current location or explore a new one?
- What sort of workspace is ideal for your organization?
- How much space do you need?
- What’s your budget?
- What’s your move-in timeline?
Decide On Your Preferred Lease Term
Lease terms for commercial space can vary depending on the property, but most leases are either short-term or long-term. Short-term leases are typically between one and five years, while long-term leases are usually five years or more.
The type of business you have will likely dictate which lease term is best for you. For example, if you have a startup that’s rapidly growing, a short-term lease may be a better option so that you’re not locked into a long-term agreement. On the other hand, if your business is more established, a longer lease term could give you stability and peace of mind.
Start Sooner Rather Than Later
It’s always better to start your search for commercial space sooner rather than later. This way, you’ll have more time to find the perfect space and won’t have to rush into a decision.
Keep in mind that it can take several months to find the right property, negotiate a lease, and get moved in – so starting early is key.
Work With A Tenant Broker
A tenant broker is a commercial real estate agent who represents tenants, rather than landlords. These professionals can be a valuable resource when searching for commercial space, as they have experience with the leasing process and can help you find properties that fit your needs.
Tenant brokers are typically paid by the landlord, so their services are free to tenants. In some cases, though, you may be asked to pay a commission if you sign a lease through the broker.
By Nyttend – Own work, Public Domain, https://commons.wikimedia.org/w/index.php?curid=12521390
Don’t Be Shy, Make An Offer!
Don’t waste your time if you locate an office space you like, even if you’re not certain it’s “the one.” Make a proposal. It’s a non-binding stage in the leasing procedure to do so. You can cancel the offer at any moment without incurring any penalties, making it a low-risk, proactive move with a large potential payout.
Plus, the more offers you make on vacant office space, even if it’s not your first pick, the more likely you are to receive one. Even the most secure purchase in commercial real estate can fall through at the last minute, which is an unfortunate truth. In that situation, be prepared to relocate to the next best available office space.
In many cases, the asking price for commercial space is negotiable. If you find a property that you love but the rent is out of your budget, don’t be afraid to make an offer. The worst thing that can happen is that the landlord says no – but you may be surprised at how often they’re willing to negotiate.
Commercial leasing can be a complex process. If you’re not sure where to start, don’t worry! The team at Synergy Work Suites is here to help. They have years of experience helping businesses find the perfect office space for their needs and they would be happy to do the same for you. Give them a call today and let them help you take the next step in finding your dream office space.
Are You Looking for an Affordable, Dedicated Office Space in Worthington?
Within the heart of Worthington, where rich traditions meet modern innovation, lies Synergy Work Suites; an affordable, elegant, and functional office space for people to collaborate and create. Our vision is an affordable workspace that provides elegance, comfort, and function; we are family-owned with our own goals in mind – giving small businesses opportunities to grow. Let us take care of your ideas and plans here at Synergy Work Suites! Contact us today for your free tour!