COMMERCIAL LEASING

We will assist you from the initial stage of listing your Austin commercial property and establishing a lease rate; through marketing, arranging tours, and submitting letters of intent; to final execution of the commercial lease document and monitoring details until the tenant is in place. Commercial property management services are also available.

Venture Group RE’s commercial office is located in the heart of Austin, where we keep apprised of current events, conditions, and trends in the the Greater Austin commercial real estate market. Our Austin commercial real estate brokers specialize in retail and office leasing, sales and property management in Austin and North Austin. Our commercial property managers have experience managing all kinds of small commercial and mixed use buildings.

LEASING IN AUSTIN TX

If you run a business, one of the things you might consider is whether to rent or buy a commercial space. This depends largely on your financial situation and willingness to take on the responsibilities of ownership versus simply renting. Renting a commercial space can provide a lot of benefits.

One of the biggest reasons why business owners prefer to rent is because it is a smaller financial commitment. The cash outlay is a lot less than an outright purchase. Let’s look at an example.
If you buy a 1,200 square foot commercial property on the outskirts of Philly, you’ll need to pay anywhere between $250,000 and $300,000. In a downtown area, it may cost you $500,000. This is just the cost for the building. You will also likely need to pay to improve the store, add equipment, and more. Renting the same area may cost you about $2,500 per month on the outskirts and $8,000 downtown, which is substantially less cash.

You typically don’t have to worry about common area maintenance as a tenant. You simply pay your rent and run your business. If you own the building, you need to worry about everything from exterior maintenance to roof repairs to cleaning to sidewalk maintenance to snow removal to property insurance to lawn care and more.

FINANCIAL RISK & FLEXIBILITY

When you first open a business or a store, you’re already taking a chance to get your business off the ground. You’ve probably put your savings into the business, which is a risk on its own. If you buy a property, you’re adding substantially more risk by starting another business (real estate), especially if you’ve never bought commercial real estate before.

Renting a store provides you with a great deal of flexibility, which you won’t have if you own it. Consider these –

  • Is the location right for your business? If not, you can easily choose to leave at the end of your lease.
  • Is the space too small or too big for your business? If not, you can easily choose to move to a space that is bigger or smaller without any trouble at the end of your lease.

With a rented store, you can learn from some of your initial mistakes and drive your business towards greater success. 

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BEFORE SIGNING A LEASE

Research is the key to signing the right business lease. Specifically, look at the building owner, landlord, zoning laws, environmental expectations and nuisance laws.

Know how much you have to pay, what exactly you’re covering and how much your rent will increase each year. Some leases include extra payments (e.g., utilities, insurance or maintenance), while others fold all of your expenses into one monthly lump sum.

Establish details on how your lease will be transferred if your business closes or you move. Two examples are assignment of the lease, which allows another business owner to fully take it over, and subletting.

IN CONCLUSION

 

Signing a lease is an important step for any new business owner. Whether you’re opening a store, moving into an office space or renting out facilities for production, at some point, you’re probably going to have to reserve a space for your business. The world of commercial real estate can be complicated, and it can sometimes take years to find the space you’re looking for.

Once you’ve found that space, signing the contract could feel like an annoying final step before you can get moved in and focused on running your business. But like most legal agreements, a business lease is an important document that requires some research.

Steps for research include vetting the landlord, determining the building owner, researching zoning laws and getting a general feel for the area. Before you sign a lease, make sure you get an idea of the payment structure, your own personal risk exposure, the transfer structure, the landlord’s desired holdover rate and any nuisance clauses in your lease. These are some important things to look out for, but keep in mind that typical commercial lease practices vary by state.

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