Although some businesses buy a property, many find that commercial real estate leasing provides them with the flexibility they need to grow and change. Finding the right space and the right length of commitment are crucial to making a good decision when it comes to leasing commercial space. The following are some tips for anyone who is seeking space for lease houston.
First of all, it’s important to start looking as early as possible. Starting early allows time for researching the market and properties of interest, finding a broker, and negotiating with time to walk away from an unfavorable contract. In fact, experts say that the best time to start the process is two or even three years before an anticipated move.
Understand The Market
Understanding the market is key to getting a good deal on a property. Before signing a lease, renters should have a clear idea of what other tenants are paying for similar and neighboring properties, and they should also know what types of lease agreements are standard. A real estate agent can provide helpful insight into current rents as well as current demand for property in the area.
Understand All The Costs
Renters should understand what costs are covered by the landlord and what costs they will be responsible for. Some leases require tenants to pay a portion of the building’s property taxes each year, for example. Tenants may also be required to pay monthly maintenance fees or take responsibility for maintaining specific systems.
Renters should always negotiate for the best deal possible, and this often entails being willing and able to walk away from a bad deal. When negotiating, renters should consider adding clauses that could benefit their business, such as allowing the tenant to sublease all or a portion of the space or allowing the tenant to get out of the lease if an anchor business leaves.
Pay Attention To The Termination Clause
Finally, renters should have a clear understanding of what early termination entails and what events will lead to default and eviction. If there are penalties for terminating a lease early, it may be worthwhile to negotiate a lower penalty if there is any chance the business will need to relocate.