What to Ask When Renting a Commercial Property?

One of my friends wanted to rent a commercial property for his factory. He had no clue about how to proceed with it. He did visit some sites but was clueless about what to ask when renting a commercial property. I advised him to consult my father as he had knowledge about these things. My father told him that when renting a commercial property the important aspect is to ensure your rental agreement aligns with our business needs and growth plans. They discussed the questions he needs to address to secure a lease that supports his business operations and reduces the risk. The questions include inquiring about area, storage facility, proximity to regular destinations, vicinity to highways, parking availability and more are given below.

Key Questions to Ask When Renting a Commercial Property

• What is the area of the property? This question helps to understand whether the place is big enough to accommodate the materials you need to store and the working staff as well.

• What is the layout and ceiling height? High ceilings are necessary to ensure proper space to accommodate storage shelves.

• Does the area allow loading dock facilities? It is necessary to ensure a dock facility if you need one to have feasibility in receiving and dispatching goods.

• What is its proximity to your usual destinations? It’s okay if the property isn’t too close with your regular destinations but it also shouldn’t be too far away from that.

• What is its accessibility to Major Roads and Highways? It is vital for the property to have easy access to major roads and highways to ensure smooth connectivity and travel.

• Is there proper parking space available? You need to make sure even if the parking space is available will it be enough for the staff, trucks and customers.

• How is the electricity and power supply? This question is to ensure proper and well-maintained electricity and power supply throughout the place.

• What about Water Supply and drainage? Ensuring the proper water supply with appropriate water pressure and well off drainage system to prevent blockage and flooding.

• What are the security measures? Does it have a 24X7 CCTV Camera, fire safety alarms, proper fire systems or not.

• What will be the Lease Term and Termination Clause? You need to ask this one to be very clear on lease duration and if any flexibility is provided if you need to vacate the place early.

• What will be the rent? This includes deciding what will be the rent, will you have to pay property tax and water tax as well or not.

• Are there any hidden fees or additional costs? Make sure to talk about paying any additional cost and clearly ask what it is about and decide not to pay it if it seems unnecessary.

• How old is the property and what is its present condition? You need to ask this question to be sure about the property age or does it need any renovation before you shift in.

• Does it follow government regulations? Make sure to ask about all the necessary government regulations being properly followed or else after shifting you might be held responsible for misconduct.

• What is the reputation of the landlord? Thoroughly research about the landlord’s reputation for responsiveness and maintenance.

These were the questions my father told my friend about what to ask when renting a commercial property and by thoroughly addressing these questions, you can confidently navigate your lease negotiation and secure a property that aligns with your business needs.

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