Renting Commercial Space Made Easier !!

All business owners are often on the lookout for ways to reduce their fixed costs. Because of their very nature, fixed costs play a crucial role in determining the profits or even losses of organisations. Hence, the decision to rent any type of commercial space needed for manufacturing, assembling, or storage should be taken only after detailed research and analysis of costs and benefits to the business. Once you sign the contract of lease or rent, you would find it extremely difficult to come out of it without any legal repercussions. Hence you need to be very cautious in these matters and take the help of experts. But for your convenience, here are some tips to make the process of renting commercial space easier:

1.      Hire a commercial real estate broker and discuss with him things like the area of space needed, type of your business, your budget, type of commercial space needed, facilities required, etc. A commercial real estate broker usually knows of all the logistics parks in India and hence would be able to guide you better.

2.      Compare the rent per square foot of the shortlisted locations as that would give you a clear idea of which one is costlier. Then compare the locations and facilities offered by them to see which suits you better. It is okay to go for the more expensive one as long as you are assured of reduced overall costs in the long run.

3.      Pay attention to lease term. It usually depends on the needs of the landlord but your preferences too are taken into account. A friend needed warehousespace in Chennai and her preference to have shorter terms with renewals was considered and agreed to by the lender company. Make sure you at least make an effort to convince the lender of your preferences.