Our economy has changed dramatically over the last twenty years. Previously, finding a commercial space for your business was often one of the very first steps you took to get your venture off the ground, because it was almost always necessary in order to provide customers with your products or services. However, the internet has changed how we do business, so now practically anyone can start their business from their bedroom as long as they have a laptop and an internet connection. Whether you run a start-up or took a more traditional route to starting your business, leasing a commercial space is a huge step toward growing your business. Because of this, the experts at NAI Isaac are here to provide you with tips for leasing commercial real estate near Lexington, KY.
Tip #1- Work with a lawyer
Leases are legally binding documents, which means that they can be difficult to understand if you don’t have a legal background. If you are a business owner, you likely are too busy to pursue a law degree just to understand your lease, so the first of our tips for leasing commercial real estate is to work closely with a lawyer specializing in commercial real estate to make sure you fully understand the terms of your lease before you sign it. Because your lease will likely bind you to the commercial space you are interested in for a long period of time, this is an incredibly important step to ensure that you love your business’s new home and continue to love it during the course of your lease.
Tip #2- Research the market
As with the housing market and the general commercial real estate market, the commercial real estate rental market also fluctuates depending on the economic conditions that impact it at the time. Because of this, researching the market is a necessary measure before you begin leasing commercial real estate for your business. This will ensure that the rent rate you negotiate for your business’s space is fair and representative of going market rates. This prep work will allow you to make sure that your space’s rent fees don’t get in the way of your profit margins.
Tip #3- Team up with experts
Whether you provide your clients with products or services, we are sure that you are experts in what you do. Similarly, we are experts in what we do, and what we do is commercial real estate. It is difficult to overstate how important leasing commercial real estate is to growing your business, and at NAI Isaac, we understand, because we specialize in all aspects of commercial real estate. Just as working with a lawyer is important to making sure you understand the terms of your lease, working with us will ensure that you understand the other aspects of leasing commercial real estate and find a space that truly serves you and your business.
To learn more about leasing commercial real estate in the Lexington, KY area, contact NAI Isaac today! We are conveniently located in Lexington, KY, but we also proudly serve the surrounding area.