January 19, 2017

Commercial Realty Tips For Finding Your Business’s Perfect Property

When searching for your business´ new headquarters you will be confronted with many options. It´s not too dissimilar from your first home – you will want everything to be perfect. With the Rakow Group, you will be assisted with a friendly yet professional team, who will be on-hand to provide you with everything you need when searching for commercial real estate for sale in Westchester NY.

There are of course a number of questions you need to ask yourself before the search begins. What features should I look for? What is my budget? Which questions should I ask the owners? These are just a few tips when searching for your next property.

The Rakow Group has leased and sold hundreds of properties for a number of clients and below are their top tips when searching for your new office.

Ensure You Understand Whether You Can Afford to Buy

The first decision you will have to make, is whether you should lease or buy. This decision is entirely down to your budget as well as your long-term goals. You will obviously lose a lot of capital from your account in the short-term, as a purchase will eat into your working capital quite substantially.

A solution that will be available for some people, is to buy a property that offers additional vacant space. With this extra space you will be able to lease to other businesses in order to create a rental income stream. This will benefit both yourself as well as the other business as you will earn additional money per month, and they save money by renting only the space they require. You will also benefit because you are in control. You get to utilize the space you need for your business and you will always have the option of taking back the space, should your business grow or your tenants lease expire.

Search For Features You´d Want In Your Home

When searching for a commercial property – buying or leasing – you should always maintain high expectations and look for features you would want in your own home.

One crucial factor to consider is commercial car parking. It is not advisory to look for a property that is not close to good transport links, such as train stations, metro stations etc. The property in question should always have some off-street parking for yourself as well as your employees.

Here a few other features to consider when searching for your property:

• The potential of expansion in the future – this is to ensure you won´t have to move should your business expand.
• Close to major roads that will increase footfall.
• A light and airy space, which remains fresh in the summer. A warm and well-insulated space which stays comfortable during the winter months.
• A variety of services nearby e.g. cafes, restaurants, shops etc.
• Close enough for your workforce to arrive on time – accessibility is key.

There will no doubt be a number of questions running through your head when searching for the perfect place. Here is Rakow Group´s top questions to ask your selling or leasing agent:

• “Is there an option to buy more car parking spaces?”
• “When was the last time the air-con/heating was serviced?”
• “How long is the leasing contract?”
• “How long is the Weighted Average Lease Expiry?”
• “Can you please tell me about previous owners/tenants?”

There are of course many, many other questions to consider asking before making your decision. However, follow these tips and Rakow Group is sure you will find a desirable property that will suits you and your business’s needs. Should you be looking for commercial property for lease in Westchester NY, get in touch with the Rakow Group and find out how they can help you and your search.

Give them a call today on (914) 422-0100.