The task of leasing retail space for business could be an intimidating one, especially for business owners taking such a decision for the very first time. You are typically asked for a personal guarantee and irrespective of how much and what kind of protection you offer, there is still quite a bit to consider. Hiring a professional to help lease a retail space can be quite helpful. He/she can get you around by taking care of some of the fundamentals of leasing. There are several areas where you need to exercise caution, before you sign any lease agreement. A credible professional along with an attorney can guide you well so that you get the best deal for your business.
Professional leasing services
Here are some aspects that a professional leasing agent will take care of:
- They will keep looking till they find a minimum of two to three spaces that could work for your business. This extra effort pays off at the time of negotiating dividends.
- They will not let you sign any lease till a clear (all inclusive) expense picture is offered by the landlord. This also includes maintenance.
- You are likely to avoid getting emotionally attached till after favorable lease terms have been negotiated. A professional lease agent can help you get an idea about whether customers will like the location or not. This is a very important aspect when it comes to leasing space for retail purposes.
- The professional will demand the lease’s pro-forma copy immediately and go through it in detail. You might not be very well informed about the ways in which commercial leases are executed. This is where professionals can help as they understand that every commercial lease agreement is different.
A professional lease agent will work by creating a computer-generated spreadsheet that compares the details of various prospective properties. This analysis will include factors like leased area space (square footage), per unit lease cost, incremental expenses such as maintenance, minimum term requires, pros and cons of leasing a property and so on. Such analytical notes will be very useful later if in case there is a tie-breaker and you are taking the final call with regards to which property to lease.
In this way, a lease agent helps make the entire process a systematic one and helps narrow down the best options for your retail business.
Contact Borelli Investment Company today and find out how we can help you reach your commercial real estate goals.