Part 1 of 3: “Soft” considerations
So you’re about to be signing a commercial property lease…
In the insurance industry, you can sign a policy for simple products like life or vehicle insurance, safely and at low cost by yourself. Innovative companies like simply life insurance or naked car insurance have sprung up to respond to this.
But if you’re thinking of business insurance, which is more complicated, you’re going to want to lean on the services of a registered professional.
It’s exactly the same with the incredibly complicated world of commercial property. This article focuses, for purposes of simplicity, on the simple act of signing a commercial property lease on a new property, or renewing your existing lease…
Leases involve big numbers and long term financial commitments. A wrong decision can hurt a tenant for a long time.
There are two approaches here.
- For those comfortable to “wing it” you need to navigate through the non-obvious complexity in CRE multiplied by the high volumes of data needing processing. This article and others is essential reading for those brave souls.
- For the others… Enter high pedigree commercial property professionals. They certainly can’t do your job, be it manufacturing products, or selling widgets online, or managing accounts. But, equipped with the right tools and data, they can help people like you make the right decisions around commercial property. Both for you and for your business.
To keep things short, this article is first in a series of three is a “don’t leave home without” list of items you need to consider around signing a lease