There are several reasons why a business would be interested in leasing a warehouse. Many businesses experience rapid growth and hope to take their production to the next level with warehousing and distribution solutions, while others may only need manufacturing warehouse space or industrial warehouse space for storage. Regardless of the “why”, how you go about finding a warehouse to rent is just as ? and perhaps even more important than ? your reasons for wanting to rent one.
Much like renting residential property, leasing commercial property requires a bit of research, a bit of gut instinct, and of course a bit of luck. Here are a few important things to consider when finding a warehouse to rent for your business.
Read before you sign
Commercial leases are a lot like residential leases in that they bind the landlord or property management company and the tenant to the terms stated in the lease. This means that there are serious legal and financial consequences if the contractual terms agreed upon in the lease are not met. Ouch.
So before you sign on the dotted, be sure you fully and completely understand the terms to which you are sign. Even if you’re beyond excited about finally finding a warehouse to rent that fits your exact needs, take some time to thoroughly review the lease agreement. This might involve going to see a commercial real estate attorney, discussing the terms with the landlord or property management company, and making any necessary adjusts that both parties agree too. Failure to understand the terms of the lease is a big business no-no, and can be a costly mistake.
Having a clear idea of exactly why you need warehouse space and help you maximize how you put it to use, which is why determining warehouse space needs is so important. For example, if you need warehouse space for temporary storage while you remodel the interior of your business, it wouldn’t make sense to rent a facility that’s equipped for manufacturing. In that case, you’d be paying for more than you need ? another big business no-no.