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Renting a Business Location Checklist

 

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Renting a business location checklist consists of items that briefly describe questions which should be considered when you want to rent a space. It consists of the positions which are dedicated for space inspection and the most common issues that need to be considered when negotiating for a lease. This checklist cannot cover all possible issues and questions, so you can elaborate and easily modify it according to your specific needs.


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Location:

  • Ensure there is adequate space for your business (for its current state and for purposes of further development)
  • Ensure that space is sufficient for your business organization

Ensure that there are enough individual offices, work areas and storage space

  • Ensure that adequate parking space is available for your customers and employees
  • Research if a traffic congestion is serious problem for adjacent territory
  • Research if location suites commuting needs of your employees
  • Ensure that communication services necessary for your business are available
  • Ensure that all utilities required for successful running of your business are available
  • Ensure that all facilities required for comfortable work are available

Lease:

  • Nature and duration of the lease

Ensure that you understand the terms of the lease and the mechanism of renewal options. Ensure that you completely understand when you are entitled to possession and use of the property.

  • Rent

Clear up within the lease contract when the rent is due and how it should be paid and actual amount to be paid. You should also be sure to understand if there is any "pass-through" of increased property taxes or maintenance costs.

  • Competition

If you need space for retail purposes, such as shopping center, determine if there are any restrictions on the landlord's ability to lease place to your competitors. Determine your remedies if competitors move closely to you.

  • Subletting

Determine if you have the right to sub-lease the space you don't need within the duration of the lease

  • Physical condition

Determine the general physical condition of the space when you move in and in what condition you should leave it when you move out.

  • Improvements

Ensure that your lease terms allow you ...


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