Whether you’ve shopped for commercial property for lease before or not, it’s important to ask the right questions before signing on the dotted line. At Miller Properties & Investments, we want to make sure you’re completely comfortable with your lease before setting anything in stone; leasing a property which doesn’t work for your company isn’t in the best interest of anybody.
Here are a few questions we make sure get answered anytime someone is looking for commercial property for lease. Contact us when you’re ready to ask them!
1. What’s The Minimum Lease Length?
With most commercial property for lease, the length of the lease is negotiable. Typically though, you’ll find most property owners will want a minimum lease of 3-5 years. This length of lease gives the owner peace of mind that you’re confident your business will be around that long, and they won’t need to search for another lessee so soon.
2. Do I Lease Just Enough Space For Now Or Room To Grow?
Unless you know for sure that your business will grow significantly in the near future, it makes sense to rent only the space you need now. And if you do grow too large for your current space, property owners are happy to place you in a larger space without penalty if the space is available.
3. Can I Make Changes To The Office Space Myself?
This question is extremely dependent on the terms of your commercial property for lease. If the property owner typically doesn’t allow it, you’ll need to negotiate to get terms which allow you to make the modifications you’re looking for.
Also be aware most property owners won’t pick up the tab for any renovations you choose to pursue, but if your lease is long enough the landlord may cover some of the costs of building out the space. Another option might be that the owner will cover the costs up front, but amortize the amount over the length of your lease.
4. Is The Owner Trustworthy?
Before you sign, one of the most important questions you have to ask yourself is if the owner is trustworthy. You may want to talk to some of the current tenants to see how responsive they are, or check with local chambers of commerce or other groups the owners belong to to verify their reputation.
Contact us when you’re ready to ask these questions of our team!