Renting a commercial space differs from renting a residential property. Whether you are looking for an office, a retail shop or industrial buildings for your business, commercial properties have their own set of issues that need to be addressed beforehand. While residential agreements are locked for usually 11 months, B2B or B2C agreements are signed for longer durations that require one to be more knowledgeable about local laws and requisite permits pertaining to real estate transactions.
If you are looking to rent a commercial property, then these pointers will definitely come in handy!
Examine the Building
Before you finalise your property, do check for strong infrastructure, parking space, required amenities, ample space, natural light and ventilation.you should also look for basic technology equipment, safety of your team and data, installed security systems and more. Also, it is very important to do a background check ofthe commercial property before engaging into agreement formalities. A very important requirement is the readiness of the building for any emergency issues, like fire or natural calamities. Make sure you consider these issues before renting your commercial property.
Consider the Location
While considering a dedicated business space for rent, location is one of the most important points before finalising the deal. Will the daily commute to this place be comfortable for your team? Can your clients locate it easily? It is recommended that your selected location be near a metro station and important facilities like banks, ATMs, hospitals and is reachable from the airport. If the answer to a majority of the requirements is a yes, then you should definitely go ahead with your new commercial space.
Have a Written Agreement
An accurately framed rental agreement is known to expunge any ambiguity between the landlord and the tenant. Having an appropriate rent agreement not only lets you perform your business peacefully but also aids in fending off any future legal fuss. Details like names of both the parties, details of the property, tenure of the rental agreement, effective dates, lock-in period, increment clause, possessions, warranties and more are mandatory things to check before renting a commercial property.
Consider the Additional Expenses
While drafting a rent agreement, have a clear understanding of additional expenses like repairs, new electricity installations, phone lines, maintenance of the building and more. You can have a clear discussion with the landlord if he/she is going to look after the additional expenses or not. If yes, it should be clearly mentioned in the agreement and accordingly taken care of in a timely manner.
Max House, with its vision to create exceptional business standards while keeping up with the growing real estate industry in India, has been readily recognised and awarded for the best in class office space in New Delhi. Originally the headquarters of the $ 3 billion Max Group, Max House is located at the epicenter of the Secondary Business District of Delhi. Offering ~105,000 sq. ft. of prime real estate spread across 10 floors, Max House is poised to be the new business address in Delhi NCR. Designed to address the future of work while considering human capital to be an occupier’s most important resource, Max House blends thoughtful design and superior hospitality in order to nurture a more productive, healthier community.
