5 Things to Consider Before Renting Retail Space
There are specific aspects to be thinking about when it comes to renting retail space, compared to other forms of commercial property. Some of these are to do with the building itself, and the location, others are in the details of the leasing, the negotiations before you sign a lease, and the specific nature of the market. Define your budget When Renting Retail Space It goes without saying that you need to think about what you can purchasable long before you start looking for a new, or maybe your first shop. Have a clear red line that you won’t cross at the top end, but also have the lowest price and a mid-range, and compare what’s out there with your expectations. It’s essential that you are aware that the base rent – one of the advertised or first offered by a landlord – is by no means the bottom line cost. On top of rent, there are a host of charges and fees that aren’t advertised: business rates, service charges, the cost of repairs and maintenance, and energy bills, to name ...