It’s a smart choice to lease commercial space in San Francisco from both sides of the coin. As a property owner and a potential lessee, the benefits outweigh the risks at every turn. The Bay City boasts of around the clock traffic, a well-maintained transit system, and business incentives like tax exclusions to name a few.
As a commercial property owner, seasoned or totally green, you have a great advantage over residential property owners. It may seem daunting at first but give yourself some credit for making a solid decision. After you acknowledge your business savvy and prowess it’s time to define the commercial space. What type of business are you looking for, as a lessee? Will the property be dedicated to a specific type of business or have the potential for mixed use? Who will occupy the space, only established businesses or startups?
Once you have defined the space you could simply slap a for rent sign in the window or advertise on social media. There are so many nuances to leasing commercial property, it’s best to call an expert like Thomas Mensendiek. A professional will market your commercial property, find potential lessees, and check the backgrounds of the potential renters. They may also stay on to manage the property on your behalf.
Legalities can become complex, depending on the type of business leasing your commercial space. The same agreement will not work for a business office, as will a physician’s office. An expert in commercial real estate will know this and can navigate these waters on your behalf. The potential foot traffic must also be considered, including hidden liabilities.
The same is true for the lessee. Driving around town, finding a commercial property available for your business is a start. Social media, commercial real estate websites, and word of mouth can help define the right space for your business. An expert will have your interest in mind when negotiating contracts. It’s not enough to move into a space and set up shop. The potential location, protecting your business, protecting your clients, and building long-term relationships must be considered.
Either side of the coin will benefit from expert help. It can be too time-consuming to do on your own. No matter the type of business, the potential to build a strong relationship between lessee and lessor and the surrounding community creates long-term success for all involved. For startup commercial business it’s a great way to become established. For startup commercial owners it’s a great way to build a reputation.
Do your due diligence when leasing a commercial space. Take the time to reduce any risks that may be incurred over time. By contacting an expert in the commercial real estate field, you can get on the right track from the start. They will have experience in areas that may not be obvious or show up on an internet search. It’s best to consult an expert. You have made a smart investment. The next smart move is to protect it.