You want to lease a building for your business, Exciting news! Here are a series of steps and guided details of how to do it. You know your business best. What do you need? Do you need Foot traffic? Or an open floor plan? Do you need storage space?
At Lisamarie Wand group we conduct a thorough intake form for our clients to get all the necessary information from you so we can better help you. We will ask questions and collect details that will help us with researching properties.
First, you will need to know your budget. Ensuring you are able to keep your business going once you move. There are common leasing costs, including rent, utilities, insurance, maintenance, and any additional fees. How are you going to ensure paying? What is your business plan? The landlord may request bank statements and tax returns for the past two years, Make sure you have those ready!
Meanwhile, Our team at Lisamarie Wand group will exhaust all resources available to find the best match. We will present the potential properties and evaluate the layout and sustainability for you and your business. We can negotiate terms with the property owner(s) and include any modifications you will need that are relevant to your business.
The common things to review are the lease terms, rent and rent increases (yes there are leases that can require a rent increase after every year), Security deposit, what are the responsibilities of the landlord in regards to maintenance and repairs and permitted uses of the property. Time length of the lease, for commercial real estate leases can vary and are usually between 3-5 years long.
Lisamarie Wand Group makes sure to have the following questions answered. Are there any restrictions that can affect your business? How much insurance will be required by the landlord? Subleasing, is it allowed? What are the conditions of your need to terminate the lease? What are the renewal options and conditions?
At Lisamarie Wand Group we conduct lease due diligence. Lease Due Diligence involves reviewing the lease agreement, understanding any additional costs or obligations, verifying the property’s compliance with zoning and building regulations, and conducting inspections if necessary. It can also be beneficial to check the property’s history, such as previous tenants or any environmental concerns.
For more information contact:
Lisamarie Wand Group – Commercial Real Estate and Business Broker Experts
Mohr Partners, Inc
1325 Airmotive Way, #276
Reno, Nevada 89502
O: 775.224.5300
info(at)lisamariewand(dotted)com