This is a subscriber-only article.

For a limited time, join Entrepreneur+ and save 50% during our Cyber Monday sale. Use code SAVE50.

Join Now

Already have an account?

Sign in
Entrepreneur Plus - Short White
For Subscribers

Criteria to Consider When Renting Commercial Space Don't commit to a new space before reading this.

By Joe Worth

This story appears in the September 2015 issue of Entrepreneur. Subscribe »

Pixabay

Q: Any advice on how to lease my new location without getting ripped off?

A: Renting commercial space can mean stepping into a minefield of hidden costs and steep fees. The commercial real estate field is full of experts with deep experience who tend to be aggressive, especially with newcomers. My first bit of advice is to start your search for your next space well before you need to move. The more time you have, the more leverage you'll have during negotiations.

But before we tackle your negotiating strategy, let's start with the basics. How much can you afford? Where do you need to be—near suppliers, customers, transportation hubs? How much square footage do you need? Which features do you require (private offices, open meeting spaces, a showroom, a warehouse with receiving dock)? And which ones do you want to make your business more efficient (on-site employee parking, an inexpensive power source)?

Editor's Pick

Related Topics

Business Plans

She Wrote An 'Escape Plan' to Quit Her Job and Move to an Island. Now She's There Generating Nearly $300,000 A Year

"My detailed, step-by-step plan on how I would quit my job and move to a Caribbean island."

Business Plans

How You Can Use the 80/20 Rule to Unlock Success and Maximize Your Impact

Our success is determined by where we focus our efforts.

Business News

Google Is Mass Deleting Accounts This Week — Here's How To Make Sure Yours Is Safe

The company is reportedly removing inactive accounts on December 1.

Science & Technology

Police Issue Warning About iPhone's 'NameDrop' Feature

How to safely manage the iPhone's latest feature and understand how the technology works.

Business Plans

An Entrepreneur's Blueprint for Crafting a Pitch Deck That Wows Investors

Developing a great pitch deck is critical for obtaining business funding, with an emphasis on connecting with investors' objectives and preferences while stressing design, clarity and a passionate narrative.