3 Tips for Renting a Commercial Space or Lot

commercial lot and space for rent Philippines

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It is good to have business. Every successful business men started from a simple starter until they grow their respective businesses as they are now. Just like you, they just started from renting a small commercial space or lot to house their business. And for you, aspiring business man, here are three tips from the masters on renting a commercial space or lot.

The Smaller the Better

According to market experts, there are lots of opportunities waiting for small businesses. The trend now is that Landlords are pursuing smaller tenants and are trying to diversify things. They are willing to take small tenant in old large spaces that are now divided into smaller ones.

With these facts and trends, you as a beginner has a lot of future in your business. Look for those smaller space or lots!

Terms you want

Whether you are looking for a one-year lease of 5 year tenure lease, you have a good chance of getting it. During the old days, landlords say that they only doing five-year leases. He strong demand could get them that, and they wouldn’t have to talk to you. But now, things are very different. Landlords accommodate and working with short and long term leases. If you are a startup, you’ll want to negotiate as short a lease as possible, since you don’t know how long you are going to be around. However, if the business is thriving, you should consider locking with today’s deal of cheap rent for a long term lease.

Learn your Market

As you start your business, you also start to educate yourself. This is the time to see a lot of space. Most of the time, small business owners feel they can find a space and negotiate a lease on their own. But experts thought that these business owners understand things like how a personal guarantee differs from a good guy guarantee. Without a broker, you run the risk of landlord taking advantage of you. A good broken and attorney will protect a tenant.

Additional Tip

Do investigate your landlord

Learning your landlord is very important in this economy. The creditworthiness of a building owner is very important. It used to be that leases just look at the tenant. Now you have to look at both sides of the table. In the larger deals, we almost always run a credit check on the owner.

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