Last year, I realized that a few of our employees did not have the best intentions when they came to work. It seemed like their goal was to slack off and avoid work, and it was really frustrating. I realized that I had to do something in order to make things right, so I started working with them to train them. I also installed a camera system and explained the consequences of their actions. Within about six months, we were able to completely overhaul things, and it made a huge difference. This blog is all about keeping employees productive and on track, so that you can keep your company viable.
Many businessmen and women choose to rent office space to work out of. This is the best way to get an office at an affordable rate, since most people can't afford to purchase the office space and own it outright. However, what most people don't realize is that leasing commercial real estate is more complex than leasing residential. Here are some things you need to know.
1. The Length Will Be longer and More Rigid
When you sign the contract on your commercial lease, you need to be ready to fulfill the contract. In many cases, a residential lease is about a year, and if at some point you need to get out of the lease, you can either pay a small termination fee, or try to sell the contract to someone else. This is not how commercial leases work.
First, the length of the lease is generally longer than just a year requirement. Usually, you will lease the property for something closer to 2-5 years. During that time, you are bound by the contract. Assume that you decide to terminate the lease a year before it is over. You are legally responsible for every month of rent, so you could be sued for thousands of dollars simply because you didn't fulfill the contract.
This is why it is important that, before you sign the contract, you know that you will stay the full amount of time and that you plan to make payments the entire time.
2. Changes Made To The Property May Become Part Of The Property
Assume that once you get a rental space you decide to paint it, change the light fixtures, and so forth. You need to read through the contract before doing this, because in some cases, when you make these changes, they become part of the property and you will not be reimbursed when you leave. In some cases you can take down the changes and keep them, but in other situations you will have to leave them, and there will be no way to get your money back. For many individuals this is not a problem, because they needed the space to fit their needs while they used it, but it is important that you understand this so you can plan and budget ahead of time.
By understanding these things, you can be prepared to lease commercial real estate in a way that works for you. For more information, contact a company that leases office space, like Inspire Business Center.