Many businesses, whether large or small, need to rent commercial real estate space at one point or another. But, what exactly should your business look for in commercial real estate properties? Here are a few tips on exactly what you should be doing when searching for commercial properties for rent in Lafayette, Indiana:
1. Look for Affordability
While this may seem obvious, it is important to thoroughly investigate the rent to make sure that it is reasonable. Talk with a financial advisor, and make sure that you are able to afford the rent, utilities, and all other expenses associated with leasing the space.
2. Clarify Rules About Making Changes to the Property
Much like that apartment you leased during your senior year of college, many commercial properties have rules about making changes to the commercial property that is being rented. Your business may need to make changes to the space in order to accommodate your needs, so you need to find out whether or not you will be penalized for these changes. This factor can make or break a commercial property that you might be considering.
3. Establish the Negotiability and Flexibility of the Commercial Lease
Unlike residential leases, commercial leases tend to allow for more flexibility because businesses and companies often need to use very specific features in their space. Make sure that there are renewable options for your lease, and confirm the length of time that the space will be available for rent. Sometimes the length of the lease can be negotiable, and sometimes they are set in stone. Always find out whether or not the lease is hard set or is able to be rearranged to fit your needs.
4. Read All Documents Carefully
This is incredibly important. Don’t assume the form is standard and sign it right away. Leases can be long and complex, which is why most people don’t take the time to read them all the way through. Grab a cup of coffee, sit down, and read each of the forms with closeness and concentration. By doing this, you will be well informed of all aspects of the real estate agreement.
5. Expect A “Client First” Mentality in Your Real Estate Agents
Finding a commercial real estate agent who is truly trying to find the best deal for you is one of the most important factors in leasing commercial real estate. Look for an agent who has broad knowledge in their field, and is willing to use that knowledge to exceed the expectations of their clients.
By following these five steps, you are sure to find the best commercial properties for rent in Lafayette, Indiana!
Main Street Management
Main Street Management is one of the top providers in the Real Estate market. The company focuses on what the client wants and bases their services on the client’s needs. In addition to Real Estate services, Main Street Management also serves the interests of their clients in Homeowner Association Management, financial consulting, accounting support, commercial property management, and construction project management. It is also a full service maintenance company. To learn more about how Main Street Management can make a difference for you, contact them today at (765) 742-6390. (765) 742-6390.