Leasing commercial property can be a lucrative investment, especially when both the owner and tenant benefit from it. Gumtree offers the following tips and tricks for renters and owners to get the most out of the deal:
Tips for commercial property owners:
Tips for commercial property owners:
- Apart from the leasing rate, there are several other costs that an owner must be mindful of. This includes taxes, or maintenance fees that need to be deposited before a tenant moves in.
- Always screen tenants and meet them in person before leasing out the property to better understand how they will use it.
- Start the relationship well by having the commercial premises cleaned well before the tenant moves in.
- In order to protect your interests, you can request for additional security such as a deposit or guarantor.
- Ensure you have ticked all the boxes when it comes to compliance. This is important as it protects your assets and your tenant.
- Partner with an expert such as a tenant rep broker who can protect your interests during the leasing process.
- Ask for a lawyer’s advice while reviewing the contract. Once you read it, make a list of changes and amendments that you want added to it.
- Calculate overall costs of renting the property including maintenance and other taxes to avoid any nasty shocks in the future.
- Do some research to find out what other commercial property tenants in the area are paying to ensure you are not being taken for a ride.
- If you are renting a commercial property, chances are that you have a business to run. Include your team from management and legal in the leasing process.
