Tips For Renting Office Space For Your New Business
Renting office space for your business can be among the most important things that you do. Unfortunately, it can be common for individuals to have limited experience when it comes to renting these spaces. In order to prevent you from making some potentially serious mistakes when you are renting these properties, you will want to be aware of the benefits of following these three tips.
Verify If Modifications Are Allowed By The Landlord
There may be instances where you will need to make modifications to the building in order for it to be suitable for your enterprise's needs. This may involve removing walls or changing the floors to accommodate equipment or additional desks. However, it must be noted that many landlords will not allow these type of changes to be made to the building. Therefore, you will need to inquire about this if you determine changes are needed after touring the property.
Ensure That The Property Is Zoned For Your Needs
There are numerous local ordinances and regulations that can influence the type of activity that can occur within buildings. This is of particular importance for businesses, as there are many communities that may have bans against manufacturing enterprises or bars. To help you with the task of researching zoning laws, you should consider hiring a local real estate attorney, as these individuals will have a thorough understanding about the local regulations that will apply to your enterprise.
Be Cautious When Signing Multi-Year Lease Agreements
It can be common for landlords to provide their tenants with rent discounts in exchange for signing multi-year leases. While these arrangements may be tempting, you should always be careful when agreeing to them. If your business were to become extremely successful, these leases could make it very expensive for you to upgrade offices, as it may be necessary to pay the remaining balance on the contract. To help protect your enterprise against this hazard, you should always make sure that there is a reasonable exit clause in any lease that you sign.
Renting office space for a company can be a stressful experience for those that are in the process of starting their first enterprise. Due to a lack of experience with this task, these individuals might make some fairly serious mistakes that could result in serious complications for their new business. By understanding the need to verify whether structural changes can be made to the building, ensuring that the space is zoned for your enterprise and that there is a reasonable exit clause for breaking the lease. Contact a company that leases commercial office space for more information.