Things to Check Before Renting Commercial Properties in India
The process of renting or leasing commercial space is tricky because of the different kind of risks it involves. Apart from threat of diving in to a financial disaster, other factors such as location, the condition of the building and most importantly the hidden costs and fees in the agreement are to look out for. Here is a checklist of things to look for before renting commercial property you can quickly go through before stepping in to the game.
Location of the space
Commercially leading locations in your cities are still a first choice but a critical factor to consider renting a space if or if not at a commercial hotspot is the accessibility. How easy it’s for your employees, clients, vendors and distributors to access your location mainly through public transport and other means.
Current condition of the Building
Your employees and you are going to stay in that building working out on exciting projects and closing awesome deals. For the work to be impeccable and flawless, the condition of the building should be in shape and pose no serious problems in the future. Check the age of the building, water and power access issues if any, safety of the building from fire. Inspect the space once for minor faults which can be fixed immediately.
Check our article for Things to check before buying flats in Bangalore
Additional Cost and Hidden Fees
Additional costs may include renovation of the space, electrical and phone wiring cost which may not be highlighted on the papers. Along with these, the hidden costs for building and security maintenance may go unnoticed. So be careful and read in between the lines before you sign those papers.
Security of the building
As much as safety from fire and other accidents, the security of the building is equally important. The building should have surveillance cameras, security guards and twenty four hours security checking of the spaces. Currently if the building lacks the security requirements, make sure to add it in the agreement that the necessary security installments will be made before the space is occupied.
Other Miscellaneous Factors
See if modification of the space is allowed, the quality of the furniture if you are opting for furnished space, verifying additional clauses if any, fire exit stairs are built and the proper function of the CCTVs.
We have made a tiny list of important factors to be considered while renting commercial spaces. Hope it makes a difference for employees, clients and you to operate seamlessly. Now that you have run a quick checklist, you can start your hunt for the commercial space here.
