Guide to Letting A Commercial Property in London

In the UK, many businesses prefer to rent commercial business properties, rather than buying it for their occupational use. According to the Property of Data Report, during the last decade, this trend experienced a significant rise as businesses increasingly became more hesitant to tie capital and commit their time to manage their premises. Today, however, the percentage of commercial property rented since the 2000s (late) experienced a downturn.

The fact is that when you begin with the hunt for a commercial property you wish to occupy, you will first have to decide on whether you wish to rent or buy it from your landlord. Keep in mind that each case is a different one to weigh the options all based on just your business. Of course, it is also advisable that you consult estate agents in East Dulwich to guide you further on the right decision to make.

After careful analysis, if you just made up your mind that a commercial property is a right choice for you, then you should read on.

Find the Right Commercial Property

The important things you need to consider when finding the right commercial property all include:

Location Matters

Keep in mind that location is the top factors you need to consider when you decide on the new premises you want to invest in for your use. You need to research the local property thoroughly, as well as the availability of the property, rental values, and tenant demands.

If you plan to open a cafe, restaurant, or shop, you have to make sure it receives enough traffic. For a distribution warehouse, you may require some good links of transport. In addition, if you want to rent a space to open an office, your location needs to be one people commute to easily. You would also want to search for initiatives and incentives in your region.

A tip is to consult property experts, such as Fish Need Water, to guide you about the commercial property rent and the estate agents who can find the best options in your area.

Decide on What Property is best for You

You have to make up your mind on the type of property that will suit your business needs best. You need to think about the right business strategy, how much, and the space type you need. In the near future, will this change. You need to know that your business will grow and be more profitable, easier to run if you choose to rent the right commercial property. It is advisable that you consider the right number of employees on your site, the machinery and processes you will need. If necessary, you can anticipate the growing business, in the future, will you need to relocate or expand the space?

It is advisable that you check the commercial property twice and take your time to decide well if you are considering planning permission for the business you wish to do in your occupation. When you rent the property, and if you need to alter the property, you should also get some consent from your landlord first.

Other Considerations You Need to Take Into Account

When inspecting the commercial property, you also need to consider other aspects, like:

• Congestion charges
• The transportation links, including trains, airports, roads, and buses
• Restrictions and parking facilities
• Restrictions and delivery facilities
• The proximity to clients, staff, and customers
• Impression clients and staff will receive
• Access to local amenities, shops, and cafes for employees
• Furniture and equipment
• Staff facilities, etc

You also need to check the overall condition of the property, just the way you will rent a house. You should look out for cracks, damps, and any plumbing related issues and defects.

The Rental Trends

You should explore your area to be sure of the rental trends. You should know that renting a commercial property means you would encounter higher rental rates. However, depending on the landlord you get, the charges can increase or be within your budget. Most landlords today agree to accept rent payments right on monthly basis. Along with the rent, they will bill any insurance or service charge. You will need to provide rent guarantee and other obligations if your business is small or a young one.

A Lease: If the lease is a long one, it will include rental reviews, often every three, four or even five years can alter the amount you have to pay over time. It is necessary to note that the rent could go up and down; it all depends on the lease terms.

Hence, it is advisable that you research all the rental trends and make forecasts before you decide to sign on the dotted lines. Seek the advice of a commercial estate agent, visit their website and explore your options!