What to Consider When Renting Your First Commercial Property 

What to Consider When Renting Your First Commercial Property  1

 

Finding a property to let is the easy part actually knowing whether it’s the right property for you is a whole new challenge. Commercial properties come in many different types and there’s a lot of choice. Now, this is both a good and bad thing.

More choice is also good because it means you can be more flexible and when you’re searching for a commercial property to let this is always going to be an advantage. But it’s also a bad thing because it means it is easy to rent a property that just isn’t suitable for your business.

For example, let’s say you’re looking for a commercial property in Bury St Edmunds a quick look on the internet will bring up thousands of possible properties. So, you really have to know what you want before you start searching. So, ask yourself this what do I need to consider when I want a property to let?

It’s very easy to get carried away when looking at properties you might have dreams of having a huge sprawling office with marble fixtures, but you need to be stern with yourself. Now if you already have a successful business and can afford all that then great, but when you’re searching for a commercial property to let for the first time you’re going to have to be a bit more sensible.

So, what should you look for then? Well I can help you with that below I’ve listed some helpful tips that will make finding your first property to let a lot easier and remember there are some other insightful and valuable guides online so why not take a look?

Yes, You Do Want To Rent 

First things first unless you are already incredibly wealthy (and even then, I still wouldn’t advise it) you should only be looking for a property to let not buy. Renting gives you a lot of advantages over buying it’s cheaper, you likely won’t be affected by interest rate increases, and best of all it’s much less risky.

The Size 

When you think of a commercial property to let what do you picture? I am guessing it’s not a small little office with a few desks and computers, is it? But that’s the reality of many people’s first property you need to consider how much space you really need.

Don’t rent a huge office if you don’t have the staff to fill it, the space of a property will have a huge effect on the price so make sure you are only looking at properties that are the right size for your needs.

The Lease 

When you’re searching for a commercial property you need to consider the lease carefully, you need to ask yourself, how long are you really going to stay here? Lease agreements can be for a wide variety of different time frames, but the minimum is usually about three years. You also need to consider the service charges and break clauses.

What’s Included 

Finally, what is actually included when you find a property to let? Does it come with any fixtures or equipment or are they going to be things you’ll need to buy yourself? Finding your dream property with all the equipment you need included is probably not going to happen but finding a property with some of the equipment included can be a big plus even if it’s just a few desks.

And remember equipment doesn’t just include things like computers it covers all sorts of things like tables, chairs, carpeting and much more. You really shouldn’t consider a property if it doesn’t include the basic equipment and fixtures because purchasing them yourselves is going to be very expensive.

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