Looking for retail space for lease can be stressful. What if you sign a contract for retail space which isn’t right for your needs? What if you make too much of a financial commitment and your business suffers? And what about all of the legalize most people don’t understand? Signing a contract for retail space for rent is, indeed, stressful, so hopefully this article, a guide to renting retail lease space, will help you to alleviate some of your fears.
We are RDS Real Estate, leading the way in commercial property for rent, and industrial property for rent, in the Fort Worth area. Call us at 817-439-3224 for information about properties in Tarrant County.
Now, though, let’s concentrate on the basics of renting retail space for lease.
You begin with your specific needs
This should be your first step, before you ever go out and look at properties. Take the time to make a detailed list of the specific needs you have in retail space for rent. What size? What amenities? What kind of layout is best for your business? Windows? A back office? Alley access for deliveries? Only you can make this list, but just make sure you take the time to make the list as detailed as possible.
What is your budget?
Retail lease space can range from a few hundred dollars per month to a few thousand. Your budget will fit somewhere in-between those. Our suggestion: do not exceed your budget, no matter how much you like the property you look at. Nothing spells doom faster for a retail business than to ignore the black and white reality of an operating budget.
What location is the best location, now and in the future?
The retail hotspot in your city may now be downtown, but what will it be in five years? This is worth consideration. And what is the nature of your retail store? Do you sell a product people will be willing to travel out of their way for, or do you have a ton of competition? If you have competition, you need to be near the established retail center of your town or city to take advantage of traffic flow.
The fine print of the contract
Very few small business owners understand a lease contract when they read it. That is not meant as disrespect. It is simply the reality of legal documents. Lawyers understand real estate contracts. Real estate brokers understand them. Business owners? Not so much! You can never go wrong having a professional real over the contract before you sign it.
Make sure about zoning regulations
Zoning regulations are a mystery for most people in any city. Zones appear to be laid out randomly along city streets. Make sure you know the zoning regulations for the retail space you are considering, what you are allowed to do, what you are not allowed to do, and make sure those things match your particular retail store.
Make it easy and find a pro real estate broker you can trust
We cannot overemphasize this point: find a real estate broker you can trust, and let them guide you through the process. Ask around to other business owners and ask them who they used to guide them through the process. Find out which firm is trustworthy, which one carries a five-star rating.
A word about RDS Real Estate
And, speaking of five-star ratings, RDS Real Estate will always be mentioned in the Fort Worth area when you discuss trustworthy commercial real estate companies. We are locally owned and operated, just a bunch of Texans looking to help other Texans. Give us a call and we’ll find the Fort Worth retail space for lease you need and can afford.