Important Points to Note while Taking a Commercial Property on Lease

Posted by Beau Parker On February 06, 2019 0 Comment

Are you in search of the perfect commercial space to start your new business? The process not only involves risk but is also definitely time-consuming. If the Galveston’s historical buildings are something you find interesting, then few companies can help you in this regard. Mitchell Historic Properties is one such leasing company that has been into this business for over 30 years. They have kept up the glory of historic properties in the city by continuously restoring them. They have even bagged several awards for their restoration work and you can trust them with your eyes closed when it comes to taking a quality business space on rent.

The vital points

When you’re all set to find commercial property to lease in Galveston, before signing any legal documents, there are certain important points you should take into consideration like:

Plan your budget – The first thing you should be clear about is what the amount of rent you can afford. If it’s a new company that you’re planning to set up, then you should be a little conservative regarding your finances. Read the lease document carefully and note down what are the utilities included in the rent, does your rent cover the property tax, insurance and maintenance cost or whether you need to bear all of them separately.
Check the tenure of the Lease – If possible,do not go for a 5 to10 year lease. Keep your options open to move to a bigger space if your business expands or if the locality doesn’t work out. Check the lease for the renewal options too.
Estimate the total area required–For this, you need to calculate the total number of employees who would work there, is there a requirement for a separate conference room or cubicles, storeroom options, etc. Always select an area that gives scope for your business to grow but doesn’t require much money.
Go for an ideal location–If you’re considering to rent the space for a retail store, then you need to invest in a location where the footfall is expected to be maximum. If it’s an office space you’re considering to invest in, then you should look into the safety of the area and ensure your employees can commute easily.
Note down the amenities covered – When you decide on the rent amount, clarify with the owner regarding the list of amenities that are covered under the agreed rent amount. This will give you a clear idea of the modifications you’re required to make and the additional cost it would add up to.

Check out the options

In the process where you find commercial property to lease in Galveston, Mitchell Historic Properties will offer you certain options amongst its list of historic properties like: