If you have decided to rent a commercial property for your business, there are a number of questions that you may want to ask during the process. You should always ensure that you get the answers you need to help you make your decision, so here are a few of the questions that you may want to ask your agent.
Does your agent have specialist knowledge of the area?
One of the first things to ask your agent is whether they have extensive knowledge of the area in which you want to rent your office space. EC3 offices and offices in other popular areas of London are highly sought after, and if you want to rent an office in such an area you will almost certainly be able to get a better deal by choosing an agent who has been working in the local area for a long time and knows the local property market.
What are your responsibilities for the property’s upkeep?
Wherever you rent your office, make sure you find you about what you are responsible for when it comes to repairs and upkeep of the space. Many landlords will have different requirements, and you should find out what these are before you have rented the property.
Are you able to renovate the space?
You may have specific needs when you rent an office. For example you may want to renovate the space and decorate it to fit your requirements. Some landlords may not allow you to do this, whereas some will be happy for you to make minor changes. Ask your agent about this and make sure you get approval from the landlord before you sign the contract.
What are your agent’s fees?
This is one of the most important things that you will want to ask before you go ahead and start looking for an office space. Find out about what your agent will charge you for the service because this fee could affect your decision and could influence whether you decide to use their services or not. Don’t just look for the cheapest you can, but do make sure you are getting value for money.
Is there a rent review clause?
The rent review clause allows the landlord to increase the rent that you pay at determined periods. If the rent goes up, this could cause you problems later on. If you are only renting for five years or less, you may be able to get this removed, so ask about it.
Can you create a break clause?
If you are planning to rent or lease a property for a long period of time, ask about inserting a break clause into the contract. This allows you to inform your landlord that you will be leaving after an agreed notice period without breaking the contract, and it can provide you with more freedom to move offices to somewhere more suitable in the future without experiencing any problems.
Get the Answers You Need
Deciding upon which commercial property to rent can be very difficult, and it is not one that you want to be taking lightly. Make sure that you prepare all of your most important questions in advance and then ask your agent for answers to your questions to help you make the right decision for your business.
