Tips and Quick Questionnaire for Picking the Just Right Commercial Property

One of the most important things for any business to consider is where to let their commercial space. Of course, the exact location differs from business to business and from city to city, but there are three golden rules that every company director or CEO should bear in mind before they take possession of their keys.

You need to consider the following factors very carefully; who your neighbors are, the implications for staff and customers, and who built and operates the commercial business space you are looking to rent.

Consider Your Neighbors

The first thing to consider is the sort of businesses that you'll be operating next to. This depends entirely on your own industry, as large retailers will benefit from being relatively close to the competition - as demonstrated by Anthurium Noida, while exclusive restaurants will not want to compete with their next-door neighbors.

You should always choose property in an area that suits your business - and your neighbors are a crucial factor in whether or not you'll succeed in your new home.

Can Your Staff and Customers Reach You?

You should always aim to lease commercial space near road, rail and public transport links, to make reaching your new office or shop easier for staff and customers alike. This is especially important when you're looking to lease retail space, as features like free parking or nearby tram services can influence consumers' shopping habits.

Always remember, not every person looking for your services will have access to a car. Always position yourself in an easy-to-reach location.

Answer these questions and you will have better grip over the how(s) and where(s).

1) Evaluate Your Fresh Needs and Expectations – You have to assess the needs of your business, employees, coworkers, the class of building, which will determine the quality of office space, amenities, the location and budget needed to acquire such an office space. In addition, make sure estimate your – parking needs, office layout and your future business expansion plans. Make sure to consult your employees, partners and clients and take their opinion before inking the papers. Ask their individual opinion on-

a) Preferred location

b) Preferred layout of the office space – cubicles, open setup or private cabins

c) Personal storage options

d) Co-working spaces or self-contained office

e) Office space in a business park or individual space

f) What are the shortcomings in the current space?

2) Look for the available spaces –Before you shortlist a few spaces and reach to the one that you think is the perfect space for your business, you have to undergo a huge process of exploring different locations and different properties through various sources. These sources can be – advertisements, online property portals or a real estate broker. Don’t hesitate to do the necessary legwork to evaluate the property yourself. Understand that brokers and agents are the representative of the landlords and not the buyers or tenants. Hence, it is your judgement decision to get the best deal.

3) The selection process – Once you narrowed down your search to final few, all you need to do is, compare their attributes to your checklist. On every visit, you must look around carefully and enquire about the property attributes and details mentioned by the developer. Get all your queries and doubts sorted before you sign over the dotted line. Ask for-

a) The possession dates.

b) Maintenance and other miscellaneous charges

c) In case of issues, who is the person in-charge and what is the response time?

d) Is the space accessible 24/7?

e) Details on amenities

f) Ambience and environment around the property

Once you reached the closest match to your perfect property, make sure to keep second and third option as a back-up plan. This will ensure you get the right property at right price, will help in negotiating the price.

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Created on Sep 19th 2019 01:23. Viewed 322 times.

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