Running a small business is no easy feat. There are a million and one things to think about, from product development and marketing to sales and customer service. And of course, one of the most important choices you need to make is choosing the right rental property for your business. After all, your office or retail space is not only a reflection of your brand but also plays a big role in determining your success. Here are five tips to help you choose the perfect rental property for your small business.
1. Location
The first and most important consideration when choosing a rental property is its location. You want to make sure that your business is in a visible and accessible spot with plenty of foot traffic. If you’re looking for office space, you also want to be in a professional area that’s close to other businesses and amenities.
Don’t forget to consider the surrounding area as well. Is it safe? Is it well-lit? Are there any potential red flags that could deter customers or employees? Take the time to visit the property and the surrounding neighborhood at different times of day to get a feel for the area. And if you can, talk to other businesses in the area to see if they’re happy with their location.
2. Code Compliance
Did you know that according to the National Fire Protection Association (NFPA), more than 100,000 fires occur in non-residential properties each year? That’s why it’s important to ensure that your rental property is up to code and compliant with all local fire safety regulations.
Some things to look for include sprinkler systems, fire alarms, and emergency exits. You should also ensure that the property is zoned for commercial use and that all the required permits are in order. If you’re not sure about a property’s code compliance, don’t hesitate to ask the landlord or property manager. They should be able to provide you with all the necessary information.
3. Internet Access
In today’s digital world, having a dependable internet connection is crucial for any business. In fact, according to a recent report, average daily data usage in the country increased by 38% between March 2019 and March 2020. From 12 GB to 16.6 GB across all device types. So, when you’re considering a rental property, make sure to ask about the internet situation. Find out what type of connection is available and whether it’s been reliable in the past. If possible, try to get a tour of the property so you can test the connection for yourself.
4. Parking
One of the most important things to consider when choosing a rental property is parking. After all, customers and employees need to be able to park their cars somewhere close by. If there’s no dedicated parking lot or garage, you’ll want to make sure that there’s street parking available. And if there are any meters, you’ll want to find out how much they cost and how often they need to be fed.
Another thing to consider is whether the parking situation is safe. Is it well-lit? Are there any potential red flags that could deter customers or employees? If you’re not sure about a property’s parking situation, don’t hesitate to ask the landlord or property manager. They should be able to provide you with all the necessary information.
5. Air Conditioning and Heating
Another important consideration when choosing a rental property is the air conditioning and heating. In most cases, you’ll want to ensure that the property has central air conditioning and heating. That way, you can control the temperature in your office or store without worrying about individual units. If the property doesn’t have central air conditioning and heating, you’ll want to find out how much it would cost to install. According to Comfy Living, the worldwide market for HVAC systems was worth around $240.8 billion in 2019, so you should have no trouble finding a system that fits your budget.
These are just a few of the things that you should keep in mind when choosing a rental property for your small business. By taking the time to do your research and ask the right questions, you can be sure to find a property that meets all of your needs.