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 »
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)?
