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Choosing the right commercial property

On Behalf of | May 16, 2024 | Real Estate

While business is increasingly being done online, companies still typically require premises to operate from. This is an important aspect of the business to get right, particularly for companies who deal with clients at the premises.

What factors should you consider when choosing a commercial property?

Is it in the right location?

The location of your business premises is one of the first factors to consider. Is it in a location where vendors can deliver goods with ease? Is it accessible for your customers and team members?

Can you customize the building?

Assessing a building beforehand and operating once you are in there can be completely different. There are bound to be teething problems, particularly when you first start using the building. Does the commercial lease allow you to update and customize the premises at all? This is something that will have to be carefully negotiated prior to signing the lease.

Is the building compliant?

Compliance is becoming increasingly important for businesses. Does the commercial property have facilities to reduce emissions and waste? Can disabled customers and employees access the building with ease? Does the building have the potential to provide reasonable accommodations for workers if necessary?

Negotiating a commercial lease is not something that should be rushed. It’s important to think about the above factors as well as the rental costs and length of the tenancy. Not all business ventures and professional relationships work out either, so it is important to know if you can back out of the lease and how much that could potentially cost.

With sound legal guidance behind you, you can not only find the ideal commercial premises but sign a commercial lease that meets your needs.