Leasing commercial real estate is no small task. You have to find the right commercial property for lease. You have to do research about the market. You have to negotiate and ensure that the property or space works financially for your business. There are a variety of things to watch out for, especially, when you are negotiating a lease. There are so many things you need to know in order to successfully lease commercial real estate that it’s worth every penny to hire a professional broker to help out. The Rakow Group can help you handle any commercial real estate lease and locate the best commercial property for rent. We’ve prepared a few tips below that detail how to lease commercial real estate.
A commercial real estate lease is a legal agreement between a landlord and a business. It allows businesses to rent commercial space and conduct business in that space during the allotted time in the lease. Commercial leases typically come in three forms: full-service leases, modified gross leases, and net leases.
One of the important steps towards leasing commercial property is understanding the different types of leases. A full-service lease is commonly used when leasing office building. The rent is all inclusive so the business won’t have to pay for things like building maintenance, janitorial services, and utilities. With a net lease, the business pays less than they would for a full-service lease. However, things like building property taxes and more will typically be added as monthly costs. A modified gross lease is a combination of both leases mentioned above; it’s a fixed cost that avoids charging taxes or unexpected costs.
Another big step in leasing commercial property is setting your parameters. That means deciding what your budget is, what kind of space you need, how much space you need, and considering any zoning restrictions that you need to be aware of. Ignoring any of these steps might come back to haunt you. The Rakow Group can help you every step of the way during the commercial leasing process and make sure that you find the best commercial property for rent.
Perhaps the most crucial step in leasing commercial property is finding a trustworthy broker. There are typically two types of brokers: leasing agents and tenant brokers. Both have their own advantages and disadvantages, but keep in mind that leasing agents work for the landlords. If you want any help finding the right broker for you, reach out to the Rakow Group. We can also help you find commercial property for sale at a great price if you are in the market to buy.