The Charlotte area has some amazing options for businesses seeking to lease commercial property. Yet, there are plenty of challenges to navigate as you look for the perfect location for your business.
A commercial property real estate agent will guide you through the process of finding and securing your new location, however you will be working as a partner with the agent, so you will need to work equally hard, if not harder to make the process move smoothly. Determining what you want from your property is important, but where your property is may be the most critical factor for the success of your business.
Location (Location, Location!)
If your business is a retail one, then location should be a strong factor in your decision-making process. Your time and effort should be focused on determining the best part of town and the types of customers you wish to draw. You want your building and store-front to be attractive to passers-by. Even if you are not a retail store, you should consider things like the size of and access to the parking lot, the proximity to other businesses, main roads, the airport or housing--things that your customers may appreciate, or may make it easier for them to find you, or make your business a favorite. Also, consider what else is happening in the neighborhood: Are the roads under construction? Do the surrounding buildings look like they have been kept up? Is the building itself in need of significant repairs. These are things that can have a serious affect on your business!
Put together a list of the things that are important to you as you set out to find the best property. Then, as you see more possible locations with your agent, be sure to add to the "wants" and "don't wants" list. The more you see, the more you realize there are very specific requirements for your property to make it work best for you and if you are able to communicate this to your agent, they will better be able to assist you in narrowing down the search and getting you into your new business location soon!
Property Manager
Charlotte, NC
www.kuester.com
Showing posts with label business owner. Show all posts
Showing posts with label business owner. Show all posts
Tuesday, September 15, 2009
Friday, March 13, 2009
To Lease or to Buy...The Best Decision for Business Owners
Dear Property Manager,
I am considering moving my business out of my home and into a commercial space. I am wondering if there is an advantage to buying the property instead of leasing. Is there a set of guidelines or a thought-process that will help me make this decision?
Any advice you can provide would be appreciated!
Mike K. Tega Cay, SC
Dear Mike:
To buy or to lease is a tough question for many business owners. And each individual situation is different--so the answer is... "it depends."
The first thing to consider is your finances. If you are able to purchase a commercial building--this could be a great option. You may also be able to lease out space that you are not using as a secondary income.
However, there are many headaches, frustrations, and extra work that can come from owning a commercial property. If you want or NEED to focus solely on your business, leasing may be the smartest way to go.
Below are the pros of leasing your business property:
1.) Flexibility. The biggest advantage is flexibility--when the lease is up, you can easily relocate to another office that better suits your needs.
2.) Less responsibility. If you are leasing, a property manager, or building owner will be responsible should maintenance need to be done--one less thing for you to worry about.
3.) Cash flow. If you aren't locked into a mortgage, you will have the option to take cash and allocate it to the projects and resources that you need to keep your business moving forward. Also, you won't need a down-payment, (typically 20-25% of the price of the down payment).
4.) Negotiable rates. The current market has plenty of properties available. You may be able to negotiate an excellent rate for your business, and lock it in for years to come.
5.) Easier tax paperwork. If your business is leasing office space, your income tax return will be simpler to file than that of a business owner.
Good luck with your decision and if you need any assistance in finding the right building--to buy OR to lease, please give Kuester a call at 704.973.9019.
Property Manager
Kuester Property Management
I am considering moving my business out of my home and into a commercial space. I am wondering if there is an advantage to buying the property instead of leasing. Is there a set of guidelines or a thought-process that will help me make this decision?
Any advice you can provide would be appreciated!
Mike K. Tega Cay, SC
Dear Mike:
To buy or to lease is a tough question for many business owners. And each individual situation is different--so the answer is... "it depends."
The first thing to consider is your finances. If you are able to purchase a commercial building--this could be a great option. You may also be able to lease out space that you are not using as a secondary income.
However, there are many headaches, frustrations, and extra work that can come from owning a commercial property. If you want or NEED to focus solely on your business, leasing may be the smartest way to go.
Below are the pros of leasing your business property:
1.) Flexibility. The biggest advantage is flexibility--when the lease is up, you can easily relocate to another office that better suits your needs.
2.) Less responsibility. If you are leasing, a property manager, or building owner will be responsible should maintenance need to be done--one less thing for you to worry about.
3.) Cash flow. If you aren't locked into a mortgage, you will have the option to take cash and allocate it to the projects and resources that you need to keep your business moving forward. Also, you won't need a down-payment, (typically 20-25% of the price of the down payment).
4.) Negotiable rates. The current market has plenty of properties available. You may be able to negotiate an excellent rate for your business, and lock it in for years to come.
5.) Easier tax paperwork. If your business is leasing office space, your income tax return will be simpler to file than that of a business owner.
Good luck with your decision and if you need any assistance in finding the right building--to buy OR to lease, please give Kuester a call at 704.973.9019.
Property Manager
Kuester Property Management
Subscribe to:
Posts (Atom)
