Bernstein & Feldman, P.A.

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Renting commercial space

Business owners in Maryland may opt to rent the business spaces they need instead of purchasing the commercial properties for a variety of reasons. However, before they sign a lease for a new business space, there are some factors they should consider.

When examining new business sites, people should verify that a prospective space will be able to handle the needs of their company. This may entail taking the time to write down what exactly qualifies as a want or need for their business and what would be unacceptable.

People should also have realistic expectations about how much it will cost in total to rent a particular space. Business owners should factor in all of the costs associated with the site, including a security deposit, monthly rent, business taxes, maintenance, insurance and more.

The location of a potential new site is also important; however, whether or not it's in an upscale area should not be the only factor considered. The distances to or from the site and distributors, suppliers, customers and business partners may significantly affect whether it is a wise choice.

The size of the commercial property should be able to accommodate the business at present and in the future. People should determine how much space their businesses will need before they begin looking at spaces and also make sure that a potential site is expandable and able to accommodate a growing enterprise.

Additional deciding factors include lease terms; accessibility, including wheelchair access and parking; the physical appearance of the site and security. All of these factors should be thoroughly reviewed before business owners commit to renting new commercial spaces.

An attorney specializing in real estate law may assist business owners with the legalities of purchasing or leasing a commercial property. A lawyer might address zoning boards for rezoning issues or draft lease or sale agreements.

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