Finding a Commercial Landlord: What to Know
If your business is in need of warehouse space to rent, you may be wondering how to find a trustworthy landlord. As a business owner, it’s crucial that you make sure your products and materials are stored and managed in a secure location. Unfortunately, it can be fairly difficult to find a commercial landlord who cares about your business actions as much as you do. But that’s why we’ve compiled a simple guide to finding a good landlord.
With the amount of occupied distribution and warehouse space having increased by 86.2% since 2000, leasing a warehouse has become a more popular choice for business owners. Leasing offers multiple benefits over buying and is often a more economical choice for businesses of all sizes.
When you begin looking for warehouse space to rent, you may want to consult a business mentor or counselor. If you’re new to renting warehouse storage space, you may have a hard time avoiding first-time renter mistakes. But talking to a business mentor will allow you to get some ideas about how to make the best choices for your business.
Once you begin contacting prospective landlord’s, it’s important to not get pressured into signing a lease on the spot. This is often a sign of a desperate landlord and the location will probably come with a handful of problems. With that in mind, it’s important to verify a potential landlord’s background and reputation before making any final decisions.
You can do this by utilizing online resources and looking for any complaints against the building owners or managers. Oftentimes, building owners will hire a management company to handle all tenant affairs, so make sure you’re looking at the right company.
When going to look at a warehouse space to rent, it’s important to not go alone. This is not just for safety reasons, but also having a second pair of eyes allows you to get a thorough evaluation of the landlord and property. This also allows your companion to catch anything you may miss during the initial tour and meeting.
One of the most important things you can do to research potential tenants is talk to current or previous tenants. This is important to do because even if the property seems perfect, having a bad landlord can cause significant problems in the future.
You should ask current or previous tenants questions regarding the landlord’s attentiveness, timeliness, improvement and repair protocols, and their overall professionalism.
When you’ve decided on a property and landlord, it’s crucial that you read the lease carefully. Commercial leases are often longer than residential leases, so it’s important that you fully understand what you’re signing up for. You may want to consider hiring a lawyer to review the lease before signing the official documents.
Overall, it’s important to not rush into making any decisions when looking for warehouse space to rent. And remember, a good landlord will look for tenants who will add value to the property and be invested in helping your business succeed.
