Renting retail lease space is guaranteed to raise your blood pressure and spike your anxiety.
How’s that for an attention-gaining first sentence?
At RDS Real Estate, serving the Greater Fort Worth Metro area, we are all about straightforward talk about industrial and commercial property for rent, and the simple fact of the matter is this: renting retail lease space is a huge financial commitment and logically, that commitment will increase your heartbeat, no matter how knowledgeable you are about the real estate market.
Call us at 817-439-3224 for more straightforward talk. Now, though, let’s talk about some insider tips which might lower that heartbeat and allow you to navigate these waters with a sense of calm.
Renting retail lease space.
You have a home-based business, and you are looking to expand, out of your home and into an affordable retail space for lease.
You have a “can’t miss” idea for a retail store, unique to your area, and you need retail space for rent in a great location, but that “can’t miss” business will be operating on a tight budget for the first year, and commercial real estate is not cheap.
You have never lease retail space and really you have no idea what the process entails, filling you with angst as you consider all of the things which could go wrong.
Quite frankly, you need some tips.
Tips to arm you with valuable information.
It all begins with your operating budget. Before you ever call a commercial real estate broker or go online to see what is available, you need an operating budget, and that budget must accurately set limits on your spending. What can you afford to pay for a monthly lease? This figure needs to be etched in stone and is nonnegotiable.
Location, location, and location . . . you can negotiate the best lease possible, but if that lease is for property which does not meet your needs, is not advantageous for your particular business, you might as well stop before you even open the doors for business.
How large of a storefront do you need? Size is money and leasing a building which is too large for your needs, or too small, can be a death blow to any retail business and, in particular, to a small retail business.
Negotiate your lease. All leases are negotiable. Remember that. There is no rule which states you cannot negotiate better terms for yourself. The wise business owner will enlist the aid of a real estate attorney and a qualified accountant. Have them read the lease offered and take their counsel when they make recommendations. A favorable lease can pave the way for business success. An unfavorable lease can pay the way for abject failure. It is your job to negotiate the best possible lease terms for your business.
Summary.
Those are the basics when renting retail lease space. There is more, of course, but those highlights are enough to get you started and arm you with enough information to step onto the right path going forward. Do not rush into this process. Take your time, talk to experienced professionals, and do not act until you are completely comfortable going forward with the signing.
A final word about RDS Real Estate.
RDS Real Estate is locally owned and operated, a leading name in industrial and commercial properties in the Greater Fort Worth area, including Tarrant, Parker, and Johnson Counties. Call us today no matter what you need i.e. warehouse for rent, shop for rent, loft for rent, office space for rent, we have solutions to your property needs.