Leasing a commercial property anywhere in the world can be very challenging, and Qatar is not any different. So, before you get overwhelmed with the technicalities of leasing a commercial property for your business, the following are the factors you should put into consideration:
1. Your choice of location:
One of the most important factors to consider when renting a commercial property is location. It can never be overemphasized. As you look out for properties, make sure it is accessible to your customers. Is it a place they can find easily? is it accessible from freeways? What about your team? Put all these into consideration when making this decision, they will likely appreciate locations close to a restaurant or coffee shop. Depending on the type of your business, you would consider being close to banks or areas you or your team will be frequently visiting.
2. Check with the law:
When it comes to leasing, you should be on the side of the law. In Qatar, not all premises are conducive for every type of business due to a number of reasons. Again, you need to sort out any licensing restriction and ensure that your intended premises aligns with the lease agreement.
3. Parking space:
When renting a commercial property for your business, ensure there is enough parking space in the vicinity of your intended property. This means a lot especially for your team or customers who may be looking for a safe and secured parking lots to park their vehicles.
4. Take the lease length into consideration:
The length of your lease is a very important factor to consider when leasing a commercial property.Most landlords are in favor of long lease agreements. So, decide carefully on the length of lease that you want. If it’s a new business, a short lease is advisable with an option of renewal.
5. Always have a fall back plan:
Know the terms of your lease well enough to make an informed decision just in case there is a change in the course of your lease.Make sure you are comfortable with the penalties or charges that may occur if you break your lease. Also, it makes a lot of sense to have an alternative lease plan just in case you have to cancel out on a lease agreement.
6. Take note of the condition of the commercial space:
Some commercial properties will need some work before you can move your things in.Look at the place closely and if possible get a second eye to access the true condition of the property before you rent it. Ask relevant question so you know what you are renting, check the cost of initial maintenance before making commitment.
7. Be clear on the lease:
When it comes to leasing your commercial property, you will have to pay attention to details. The provisions and terms of the lease should be clear enough so you know what lease agreement you’re going into. Don’t just take the landlords’ word for it, ask questions in areas you are not clear about. Don’t leave any stone unturned.
8. Take a look at repair:
Just leasing a commercial property is not all; you should know who is responsible for repairs. Knowing this would save you quite a lot to say the least. If you are the one in charge of the repairs, include it in your budget and if it’s your landlord, make sure it is done on time.
9. Get an expert advice:
You can never be too careful when it comes to leasing a commercial property and who knows better than real estate agents or brokers? Obviously, they are familiar with the area and will make the whole process a lot easier for you. To this end, you wouldn’t go wrong to engage the help of real estate agents when looking for a perfect commercial area that suits your business.
Finally, Your commercial property lease is a vital part of your business, plan for it, and make it work for you.