You now find yourself in the market searching for a factory or warehouse to rent. You may source a suitable industrial building with space that seems great, but don’t base your final decision on just that. It may fit your needs but does it fit your financial needs? You still have a myriad of questions to ask before committing to rent the factory or warehouse.
What are the lease terms? Are there any other random or hidden costs? These are a few of the many other questions to ask before narrowing down on your choice of industrial properties and making an informed decision. You want great space and a reputable person to rent from.
The only factor that will eventually effect your decision to rent a particular factory or warehouse or not is the amount of the rent. Businesses already know what they can spend on rent. It is budgeted for and if the rent of a particular property that they are interested in is too high then they won't rent it. If the rent just fits into your budget, be careful to find out if there are any hidden costs that will come into play and effect your budget negatively.
The rent of a factory or warehouse can be broken up into pieces, namely the base rent, which is your square meterage of space rental price, and then it is increased by municipal fees which include water and electricity. Before deciding on a rental, negotiate with the prospective landlord and try to have your base rent reduced and negotiate the length of your lease if you need to. While you at it you may as well try to negotiate your increased annual rent, security deposits and renewal options for the lease. The downside to all your questions can only be a "no", but the upside is that the owner agrees and you get your great space for a great price with no hidden costs, a completely transparent lease agreement with negotiable terms. Everything you wanted and because you were willing to ask.
Another thing to bear in mind when applying for a factory or warehouse to rent, the landlord or his agent will always go over the rent rates but may just exclude talking about the additional costs to you, so make sure to ask if there are any operating costs that you will have to end up paying each month along with your rental fees. If there are additional fees then they should be notarised on your lease agreement with a name and price that you are allocated to have to pay for.
Not only does the rental go up in price annually but so can the rates, so make sure to enquire about this too. You will want to know by how much they go up in percentage each year. Look out for utilities. Are they included in the rent or are they to be paid for separately from the rent?
Once you've gathered all the information, make sure that everything agreed upon is written on your lease for your security before signing up for your new premises.
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