How much does it cost to rent a space?
Did you know that it is cheaper to rent a commercial storage space, regardless of the size, for your growing business needs? Some people prefer to own the warehouse or space. This way they have full control. The only problem with that is you pay more in out-of-pocket costs than you would if you rent the storage space.
Do You Want To Rent Some Commercial Storage Space? Read About How Much It Will Cost First
The other positive about renting the commercial storage space is that you can expand or contract whenever you need to. You can expand the space as the business grows and move to a new location if you need to minimize the company in any way. You can move from one location to another, depending on how to impacts your budget.
Say, for example, that you want to buy the office space for your business and pay a mortgage. What happens if something goes wrong with the business. You are now under a contract of a different kind. You do not have that problem if you rent the commercial storage space and buy a smaller office space. Just pay rent for the time you are there and move on.
Negotiating The Space
You might be renting the office or commercial storage space, but you still need to learn the “art of negotiation”. You have to understand the basics of renting before you jump right in with a contract. Failure to understand renting basics will have you paying more than you should.
Landlords can spot innocence in business a mile away. You might be savvy in company deals, but you have to know what you are doing concerning renting a commercial storage space.
The Basics of Renting a Commercial Storage Space and More
The first thing you need to understand are the market rates. Also, you need to understand how to make a smaller office combined with a storage space will work for you. You will have to pay a monthly fee for renting an office space as well as storage space. You did not think you were going to get that for free, did you?
The best thing to do is to negotiate the office space based on square footage. You should call other owners, who are working in the area, to get their opinions about the current market price for square footage. Ask them how much they paid for their space and when. The time of purchase plays a role in market value and pricing. It might not be the same price now that it was years ago.
The nest thing to do is find a broker who understands the current market value. Say, for example, you have two spaces in the same location. One might rent for much higher than the other one. Technology, infrastructure, and other amenities play a role too.
Figure out what you need
What are build-out fees? That is when you add on to your office or warehouse space with what your business needs. Some spaces do not come with everything. Now, the landlord will either pay for some or all the costs. The landlord might also tell you to pay for everything by adding it to your lease. You can pay for everything during the lease period. You will probably have to pay a higher rent because of the add-ons, but that is something you need to talk to the landlord about.
For that reason, having a commercial storage space you can rent in addition to the office will be very beneficial. Less add-ons to worry about.
Commercial Storage Space – What about utilities?
Utilities might not be included on the list. That is something you might have to pay extra in your lease. You might get lucky with the landlord. He or she might share the previous occupant’s unused utilities with you. That will help with creating a genuine agreement for space. The one thing you might be responsible for is external maintenance. Say, for example, you are renting a space with a yard from some out-of-town owner. He or she might have you mow the grass and do other extras to keep things legitimate with the rent agreement. Once again, that is something you need to talk over with the landlord. Some of them are very approachable as long as you communicate everything upfront.
Here again, having a commercial storage space in addition to your office or warehouse may help. You will be able to reduce the size of your office, thus reduce the utility and other costs.
Terms and Conditions
The next item “up for bid”(so to speak) is the topic of terms and conditions. I do not care if you own the space or rent, you need to read over the fine print before you sign anything. Communicate anything that does not sound right or genuine. You might decide to renew your renter’s lease. Now, that should include some kind of “guaranteed rent rate”, but you never know about who you do business with. You should treat this as a business deal because it is.
You have to protect yourself. The landlord could raise your rent without your knowledge, and that could blow your budget in a million pieces. You might decide that the landlord is being sneaky about things. You might decide to go somewhere else where the person will not take advantage of the rent. What are the legal implications of running out on your renter’s lease too early? There might be back paying that the landlord says you owe on the rent.
Sometimes they do that to cover the back end costs for the lifespan of your lease. What about the damage? Your landlord might require a deposit on the space you rent to cover damages done during and after you leave. You probably will have to buy some insurance for the parking spaces you use. You and your company might only rent the space for six months, but six months gets expensive.
Having an additional commercial storage space will help you here as well. Your move will be a smaller one should it come to it.
Other Things You Should Consider When Renting A Space
Did you know that some locations will offer free space for companies that promote job growth? The only downside is your business has to create a certain number of jobs to get the free space. In other words, you will not get the space free if you only deliver five jobs. That number of jobs you have to square away with the owners. Municipality workers keep track of the number of empty buildings in the area. They keep track of how many jobs are created, which leads to empty spaces being filled. The more space your company fills with potential long-term jobs, the less empty spaces the buildings have.
The other deciding factor is how long you intend to rent the space. They are not going to consider free space if you are only there for less than a year. They consider that a “fly-by-night” thing. Local and municipal workers do not like to get involved in fly-by-night renters, someone who is here today and gone tomorrow. They want to know you are there for the long-term. The other thing to think about is the reduction in rent. The longer you are there, with your company, the lesser your fees are going to be.
Commercial Storage S
Renting a space involves more than just liking a spot and wanting to be there. There is a community aspect of renting a space, something that goes way beyond money. You are moving into their community. They want to trust you with more than just using their utilities and computer networks. Some landlords have been known to raise the rent higher if they feel they cannot trust you and your business. All it takes is one wrong move to make a bad first impression.
That is why you need to consider everything when you rent a commercial storage space. It is not all about your business and finding a new location that works. Some things are worth more than money.
Box-n-Go storage is here to help you with all your commercial storage space needs. On top of the above benefits, we can also deliver your storage units to you. We can provide you with the moving help as well, if needed. All you have to do is call us at 1-877-269-6461.