Renting a Business Property
Searching for the right premises should start the moment your business idea forms in your mind. It can be a long and difficult process to find working space that is in the right location and is the right size for your chosen business. In addition, the legal process can throw up all sorts of problems that require solving before final agreement can be reached with the landlord or the landlord's agent. It doesn't hurt to put the feelers out to commercial property agents informing them of your business requirements and the price ceiling you are prepared to pay.
Listed below are the places you can start your property search:
- commercial property agents
- Local Enterprise Agencies
- the local library
- local authorities.
Before viewing any properties ensure that the following points are clear in your mind.
1. Cost
- Premium requested.
- Lease length.
- Amount of Business Rate applicable.
- Service charge if any.
- Possible fitting out costs.
- Installation costs: computer, phone, fire protection equipment, security etc.
- Advance rent.
- Surveyor's fees.
- Legal fees.
2. Minimum Space Required
Ask for an internal area diagram and superimpose outlines of your equipment onto it to ensure you have adequate space for the use you are planning. (Contact your local Health and Safety officer to establish the office space requirement per employee.)
3. Access Benefits
Position, as I have already pointed out, is of the utmost importance. Consider whether you need the following:
- Parking facility.
- Delivery facility.
- Bus stop and railway station nearby.
4. Fixtures and Fittings
Check for the following; the more you find the bigger the potential saving:
- Adequate telephone points (check their position).
- Adequate electricity points (check their position).
- Adequate lighting.
- Heating and ventilation.
- Security.
- Computer wiring.
- Room partitions.
- Fire-fighting equipment and current certificate.
