Tips for Renting Commercial Property in Inner Cities

Whether you’re looking at renting commercial property or you’re considering commercial property for sale, the location of the property will be of paramount importance.
When people view properties for commercial purposes, they want the property to be –

• Safe and accessible for customers

  • Easy for staff to reach
  • Convenient for goods to be delivered and transported.

The other important factor is to decide whether you’re going to buy or lease your commercial property.

With a commercial property for sale, there are benefits too if you buy, one being that you have the stability of ownership – not being told to leave when you least expect it. You may have to get used to the costs of several upheavals.

Always Meet Your Tenants

Certainly, as a landlord renting out a commercial property, the best tip you can have is to meet your tenants in person before the signing of documents. You can sum people up and get an idea as to whether you believe they will look after your property or vandalize it.

Clean and Upgrade your Premises after each Tenancy

To keep your side of the rental agreement on a good note, it is always a good practice to have your premises cleaned and possibly upgraded before the new tenants move in.
Some other tips for renting commercial property in inner cities –

  • Check the lease over. Never just sign a lease handed to you by the landlord. Commercial leases are generally 3-5yrs but what happens if your private landlord has stipulated 2 years on the lease? The lease will also inform you of the escalation rate and what the increase will be each year. Reading a lease is most important.
  • Involve a lawyer. If you’re not clued up on legal matters, get yourself a reputable commercial lawyer who understands leases. Leases are complex and mistakes can be massively costly.
  • Understand operational costs, because apart from your basic rent, there will be other costs involved with the operation of the property. Some of these costs will include things such as maintenance of the premises, cleaning and utilities.
  • There will be parking costs too. Depending on the size of your staff, parking bays, whether outside or under-cover, can be expensive.

You can see that it isn’t child’s play getting yourself sorted with commercial property rentals. How will you even know what the market rents are in the area you’re looking at? Prop list takes all this terrible stress from you.

Help from People in the Know

You get all the answers from them – you have an idea of market rents in the area and you can get detailed information and images of the property.

PropList simply makes the finding of commercial property that much easier and they have a team of dedicated commercial property professionals who work with you. They make sure that when you want to rent property in the inner city, it is matched to your unique requirements.

What do you think?

Written by Danny Dotson

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