Finding just the right location for your business can be quite a challenge, wouldn’t you agree? That being said, in a competitive market like the Sunshine state, it might be best to first rent and then buy a property. This is especially true if your business is still expanding or in the relatively early stages. So, to pave the way to further success, read our guide to renting a commercial property in Florida. Each move should be thoroughly examined, so tread carefully!
Factors to consider before renting a commercial property in Florida
Of course, the first logical step to finding suitable premises is to find out what exactly you’re looking for. As you may already know, there are many types of commercial property in Florida. Basically, you want to know if the physical building you’re interested to rent has all the infrastructure your business needs. Also, location matters, especially if it’s a retail business of some kind. Another thing to take into account is budgeting. By knowing how much money you are prepared to spend on rent, it will be easier to narrow down your search. Only once you know all this information should you go out hunting for the property.
Understanding the terms of the commercial lease
The most important document in this process is the commercial lease, which is an agreement between you and the landlord. First of all, you should be able to identify three main types of leases. The main difference between them is the way in which the rent is calculated. Here are the options:
- net lease – other than paying the set rent, the tenant pays some of the real estate taxes as well
- gross lease – a commercial lease where the rent covers all the expenses and is the only cost to the tenant
- modified lease – this type of lease can serve as a middle ground and is a product of negotiation between the tenant and the landlord
Know your rights and responsibilities
When you enter into a lease agreement, you should be aware of your rights as well as your responsibilities. Your obligations start after transferring your whole business to the new commercial property in Florida. Get to know all the building codes and respect them. Also, you have the right to inspect the building of any sign of damage or imperfections. You can put everything into writing, together with the repair requests too. In general, the more you learn about the whole process, the less likely you’ll end up in trouble. Plus, by being well- informed your business will run all the more smoothly as a result.
Seek help from a professional
All this advice, however, requires of you time and effort in order to learn the terminology and thoroughly understand the topic. If this is your case, then you can hire a business lawyer and have them handle the agreement. This way, you can be informed, yet still rely on help from a trustworthy professional who is much more experienced in the field than you are. It’s challenging enough owning and operating a business, so why not take one burden off your shoulders? As a result, you’ll be able to concentrate on setting up your business in the new location, while you leave the process of renting a commercial property in Florida to the lawyer.
Lisa Roberts has been engaged in writing blog articles for the last 7 years. Although she started off her career in the moving industry, her experience brought diversification to the content topics she covers. Today, her range of topics spans from moving across the globe to everyday lifestyle tips, marketing, real-estate news, etc. In her spare time, Lisa enjoys running, reading books and spending time with her dogs Lue and Sill. As a great lover of life, she finds something practical and useful in every experience, which contributes to her portfolio as well.