Who better to give you advice on choosing commercial property for rent than professionals in the commercial real estate industry?
We are RDS Real Estate, serving the great people of Fort Worth, Texas, and we invite you to call us at 817-439-3224 for all of your commercial real estate needs in the Greater Fort Worth area. Now, though, we would like to share, with all of you, a little advice we have gathered based on our many years in this business.
Make a list of your needs
Like Santa Claus, you need to make a list and check it twice. Make a detailed list of the things you absolutely need in the commercial property you seek. You can break down the list to necessities you must have and amenities which would be nice to have. This list will be your guiding light, and we strongly recommend that you do not stray from it. There are far too many commercial properties lease opportunities available in today’s market. If you are patient, we can almost guarantee you will find the commercial property for lease that you want and need.
Establish a budget and stick to it
This is non-negotiable! You must establish a price you are capable of paying, and you must not go over that price. Far too many businesses have gone bust because they overspent on their lease and other overhead.
And what if you can’t find a commercial property lease for the price you can pay? Don’t lease! Wait! Be patient! Get creative! Do anything but sign a lease for too much money.
You have heard it many times . . . location, location, location! It’s part of the Bible of Commercial Real Estate, location is everything for a retail space for lease or an office space for lease. If you do not locate your business where the customers are, you might as well not open for business.
This is, in most cases, true. The only time it isn’t true is if you have a retail store and you are selling something so unique that location doesn’t make any difference, people will travel out of their way to purchase what you are selling, or your product is one-of-a-kind, with no competition, and people will travel to purchase it.
Those cases are rare. 99% of the time, a retail business wants foot traffic and wants to be on a main traffic arterial. A good commercial real estate broker can tell you the best locations for your business in your city, which leads us to the next point.
Find a commercial real estate broker
This may seem self-serving, given that this article is written by a commercial real estate broken, but that doesn’t mean it isn’t true: no one knows the commercial real estate market in your area like an experienced real estate broker. Ask around, find one who is highly-recommended, and work with that person. They know the zoning laws. They know the traffic flow in your city. They know the market like the back of their hands.
Negotiate terms you can live with
Yes, you can negotiate terms to fit your needs when you rent commercial property. Not in every instance, but enough times so it is worth your while to try and negotiate better terms. Don’t be shy. This is your future we are talking about, so step up to the plate and swing for the fences.
That’s what we have for you today. What we have told you, in this article, is gold. Follow our advice and we are confident you will come out ahead as you search for commercial space for lease.