Finding a retail space for lease and hire for a certain event can be a challenge. Making the wrong move can be catastrophic for the company. You will come across the competition for the best location so you will need to make some concessions for the elements that are not the deal-breakers. The process that comes with finding a commercial space to rent won’t be as frustrating if you have a solid plan that includes your must-haves and objectives.
Due to the overwhelming competition, the commercial building to lease can end up being filled with bad characters. This can be from those who are posting fake listings to those who make all sorts of fake promises. It is important to identify the best way to find a commercial space. This will be one of the biggest business operational costs so it is essential to take plenty of time to plan for the obtaining of the best commercial renting space in Melbourne.
Getting a professional
A good way to find the right commercial property to lease in Melbourne is by hiring a professional to help you search. Commercial properties can be quite complex rather than residential homes so you will need to speak with a broker to discuss what financing is avail if you need it and the different lender requirements before going ahead and searching for a property. Your local broker can work with your accountant also to get that part of it done as you may need to pay taxes etc.
Going at it alone
You can most certainly go without the broker and do the searching and paperwork etc on your own. As there are high stakes involved though you may need to enlist the services of a commercial broker.
There are some tips avail on where to find commercial properties if you choose to go it alone:
- Use the online free commercial broker sites to find shops to rent
- You can google retail space for rent within your local area to explore the different options even in the case of formal space hires.
- Exercise with caution on this approach even if the listings are not listed with the reputable commercial agency
- Sign up to subscriptions sites that will give you important information and the demographics of the area. Check it first as some will require ongoing payments
- Ask people you know about commercial properties within their area. Your network will already know of some places that are well suited for what you want.
- There are plenty of real estate websites and the real estate section of your local newspaper is a good source also.
If you do decide on getting a professional to help you then you need to consider their fee within your budget. Most can give you a quote beforehand but the normal range is between 7 and 10% of the total lease cost.
There are many advantages of using a broker:
- They have more contacts so they are connected with more properties and agencies.
- May have better-negotiating skills, therefore, they might be able to get you a more secure price.
- They can access commercial property subscription sites that are not available to the general public.
If you choose to go with a professional, ensure you do your research and know your plan and exactly what you want before contacting them.