We know that finding the right building for your business is important and we want the process to run smoothly from start to finish. Here are 10 helpful things we feel it is important to ask when selecting your new commercial property:
1. How long do I need to sign up for and does the lease include any break options?
2. Will my lease be inside or outside the Landlord & Tenant Act?
When looking at your lease options, it is important to discuss with your potential landlord how long will you be expected to sign up for. Check whether a break option can be selected as this could give you flexibility to suit your business needs.
3. What repairs and maintenance will I be responsible for?
4. Is there a service or maintenance charge and what does it include?
Once you’ve considered the length of your lease, discuss the repairs and maintenance you will be responsible for – taking on new space will mean taking on some new responsibilities. Make sure you also discuss whether there are service or maintenance charges and what they include.
5. What utility supplies (gas, electricity, broadband, water) does the building have?
While some landlords may supply utilities, such as gas, electricity and water, it is not a given – the less-than-ideal scenario is to move in to your new unit, yet be incapable of running your business. Always check what utilities are being supplied to you.
6. Are there any restrictions (access, use) I should be aware of?
7. What space am I renting and does it include designated parking and/or yard areas?
You will have an idea already of the type of space you are looking for but, when you visit the unit, make sure you are clear what space is yours and what access you will have to designated parking and/or yard areas. Some sites may also have restrictions to when the site and unit can be accessed, which may affect your business hours, so always check the accessibility is right for you.
8. How quickly can I move in?
Looking for new space for you and your business is an exciting process and, ideally, you would want to get the keys as soon as possible. However, be sure to confirm with your landlord the date you would be able to move in to minimise any disruption to your business. Remember Industrials can complete the whole process and move you in within 48 hours.
9. What is the rent and will it increase in future?
10. What is the total monthly cost (i.e. rent + rates + service/maintenance charge + insurance + deposit)?
The most important thing for you to consider is that you are happy with the rent and your total monthly cost. Make sure there are no hidden fees or costs that you weren’t being made aware of. If you are looking to rent your space for the longer term, discuss with your new landlord whether a rent increase is likely in the future.
If you want to find out more on whether your lease will be inside or outside the Landlord & Tenant Act, click here.
* dependent on availability of unit