If you are looking to lease commercial real estate, there are a number of steps that you need to take. These steps will help you determine the real estate that you want to lease and prepare for this. The steps will also help you ensure that you are signing the best lease for your business.
Set Your Parameters
The first step in leasing commercial real estate is to set out your parameters. To do this, you will need to consider who your ideal customer is going to be and where you are going to find them. You also need to consider the desired size of the property that you want to lease.
Your budget will also need to be considered at this point. There is no point in looking at commercial real estate if you do not know how much you will be able to pay each month for rent. You should also consider the accessibility of the property that you need. This accessibility will relate to access for people with disabilities as well as the physical location of the property.
Find A Commercial Real Estate Broker
Once you know what you are looking for, you need to look for a broker. It is important that you look for a tenant broker as they will have your best interests in mind. If you contact a leasing agent, you will be talking to someone who represents landlords. This means that they will be looking out for their interests and not yours.
The real estate broker that you find should have experience with the types of property that you want. They should also be a full-time tenant broker because this ensures that they have the time and resources to help you. While it is possible to lease commercial real estate without a broker, it is recommended that you use one to access a larger number of properties.
Understand The Different Lease Types
Unlike residential leasing, commercial leasing will have a number of different types of lease. Each of these lease types will impact how you pay your rent and you need to know about they are. The 3 most common will be the full-service lease, the net lease, and the modified gross lease.
The full-service lease is the most common for office buildings and will be all-inclusive. The net lease will provide you with lower rental amounts, but they will include monthly costs such as property tax and insurance. The modified gross lease is a compromise between the full-service and net lease. With this type of lease, you will pay a portion of the usual costs but as a lump sum along with the rent.
Negotiate The Lease Terms
Before you sign a commercial lease, you need to negotiate the terms. To start the leasing process, you will need to write a letter of intent to the landlord. This letter will tell the landlord why you would be a good tenant and should include your intent, a description of your business and your proposed terms. The terms can be the same as the ones the landlord has set out or they could be a counter-offer. To know more about commercial real estate contact us or visit the website at https://3cre.com/leasing/.