Commercial Real Estate Leasing: The Process, and How Property Consultants Can HelpMarch 29, 2016
Leasing commercial property is an important step for any business to take to set up a new enterprise or to relocate a thriving corporation. Unless the company has an expert in real estate on staff, it may not make the right decision on which property is best for its needs. For this reason, companies should turn to property consultants for assistance with their commercial real estate leasing needs. Let's examine the leasing process and in what manner the property consultants are of assistance with it for a company.
The Process for Leasing Commercial Property
Discovering the right location and building is the first step in the process of leasing commercial property. The company needs to ensure that the proprietor of the building has the legal right to rent the building to others. Once the company accomplishes this task, it should be certain that the building contains all necessary elements and amenities for the company to operate correctly before discussing terms of the lease in case additional features need installing into the building.
After all of the above, it is time to discuss the terms, stipulations and rental price that will be in the lease agreement. The lease must be equitable and fair to the company to ensure it is not paying above the market price for the property. Commercial rental property should always lease at competitive pricing or a company should question the higher or lower prices. Even a low rental rate may point to problems. A company needs to hire an independent inspector to examine the property for issues prior to signing the lease. This will point out problems that need addressing before the company can move into the building.
Property Consultants Can Help with the Entire Process
When a company hires property consultants, they perform all the tasks above for the company. They stay abreast of the commercial real estate leasing situation continually to know which properties are available quickly when clients contact them. The consultants will perform a title search to ensure that the person who states he or she owns the property does own it outright so there are no issues with the lease. In addition, property consultants will advocate for any extra inclusions to the building along with the terms, stipulations and pricing in the lease to ensure the company receives the best possible deal. Also, the property consultants will sit in at the signing of the lease in case the company representative has any final questions.
Property consultants handle all the red tape and details of commercial real estate leasing for the company that hires them. They ensure the best property and lease deal for the company's needs.
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