Whether you are just starting the hunt for the perfect space for your business or are narrowing in on the final steps of the process, it is crucial to know the right questions to ask when renting commercial real estate. Fortunately, Boulevard Medical Properties can help guide you from the first steps to the last signings. For more information about our commercial property services, get in touch with us today!
Question #1: What is the cost?
Perhaps one of the most obvious places to start is the price. After all, the price will dictate if you can seriously consider signing the lease for the property. In addition, it is important to note how they expect to be paid, when the amount is due, and if you can lock in that rate and terms for your entire time in the location. Since each property can vary greatly from one to the next, it can be extremely helpful to have the team of Boulevard Medical Properties on your side.
Question #2: How long will the lease run?
When selecting a commercial real estate property to rent, one of the first questions that should be asked is about the length of the lease. It is crucial to establish the length of the lease and not assume that it is the same as the other properties you have viewed, especially since it is beneficial to the landlord to have you sign for as much time as possible. (Longer leases tend to benefit the landlord since it reduces the likelihood of vacancies where they are not getting paid for the space). It is also important to discuss what the beginning date of the lease is, and what will happen in the event that it is not ready in time. Discussing this information will ensure you do not wind up paying for the space while they undergo emergency renovations or have difficulty removing the previous landlord.
Question #3: Can I sublease?
While your intention going into the agreement may be for you to stay in the property for the entire time, it is important to know your options in case of a drastic change in your business. Whether the change is good (ex: exponential growth that has caused you to outgrow the space) or bad (ex: you can no longer afford the rent), having the option to sublease for the remainder of your agreement can be a great option for your business.
Question #4: Is there a “recognition” or non-disturbance clause?
Another way to protect yourself, your company, and your employees is through a non-disturbance clause. This will ensure that you do not get the short end of the stick if your landlord goes broke and a new landlord tries to double your rent.
Question #5: Am I limited to a certain Internet provider?
In today’s modern workplace, efficiency can be severely hindered with a subpar Internet provider. Before signing and agreeing to the lease, make sure you find out if you have any flexibility with your Internet provider. In the case of the landlord only working with one option, make sure that it is effective and it is not just the cheapest option to save them money. (During this discussion it can also be beneficial to discuss if a cleaning crew is provided, who pays for which repairs, which utilities you are responsible for, etc.)
Finding the Appropriate Medical Office Lease for Your Practice
Regardless of what your practice specializes in, the right location cannot be stressed enough. Boulevard Medical Properties take on the headaches that come along with searching for commercial property, so you can focus on running your practice. To learn more about our services or to get straight to your property search, contact us today.