5 Tips For Renting Property As An SME

5 Tips For Renting Property As An SME

  • 17th April 2017

renting property as an SME

Small to medium-sized enterprises (SMEs) need to be nurtured. Every decision you make for your fledgeling business should be about maintaining and growing your business in the longer term.

For many SMEs, the biggest decision they will make quite early in the process will be renting business premises. It can be a thrilling and exhilarating moment signing the lease and getting the keys to your new workspace. However, this can also be a time of risk and uncertainty if it is something you have never done before.

RTC Business Park wants to provide you with five tips that should help to allay some of the fears, anxieties, and uncertainties of renting the property as an SME:

1 Location, location, location

First and foremost, you need to be clear about where your business needs to be. If you have a physical retail unit in mind, would the high street be better or an out-of-town complex? Where does this need to be in terms of the city or town? If you are thinking of renting a commercial property in Derby, you need to be super-confident you have the right premises in the right place and that’s where RTC Business Park can help.

2 Realistic Financial Plan

You may love the acres of space or the vast shop front but frankly, if it’s out of budget, it is out of the running. As well as meeting the rent every month, there are other property-related expenses you need to factor into your budget. Be realistic about what you can and cannot afford?

3 Flexible Terms

Everything, as they say, is open to negotiation and this is certainly true when it comes to renting a business premise.

As well as terms in your favour, you also want rental terms to be as flexible as possible. This allows you more certainty and less risk in many ways.

4 Get to know your landlord

A great tenancy starts with a great relationship with your landlord. This means that any snags or issues can be ironed out more easily than negotiating with someone that you don’t know.

5 Know what you have signed up for

A common complaint from business tenants is that when they come to give up their rented property for another premises, they find that they lease lasts for several more years and to pay out of it would cost a small fortune. Be clear about what you are signing up for before you sign and you won’t be left disappointed or frustrated during the term of your lease.

Once all these details have been taken care of, you can get started with the process of moving into your fantastic new premises.
For more information on renting a commercial property as an SME in and around Derby, contact RTC Business Park today.