Wednesday, April 17, 2013

5 Important questions to ask your property management company before leasing a retail space.

You may have heard the three most important factors when starting a business is location, location, location. Yes, location is vital to your business success but equally important is the relationship you maintain with your property management landlord.  

Just as every property is distinctly different, so are the companies that manage them. You are going to be in an ongoing relationship with the property management company and it is essential that the lines of communication be and remain open.   
Store Front
Rhonda Lusco, property manager of Sharp Realty, suggests meeting with your management team while still in the searching phase for available commercial space to lease.

Have your written questions ready ahead of time and be clear on what your expectations are, not only for the answer but how they are answered. For example, does the management team seem to be flexible and easy to deal with or are they fixed on “these are our rules no exceptions”.  Know what is important to you before the meeting. 

Below are a few questions you may what to consider.

1. What the expectations of the leasing agency is regards to rent payment, utilities, garage or snow removal each month?

2. Can you put displays in the front of your store? Is so, are there any restrictions?

3. Who is for responsible signage, and how is it handled?

4. Is the management company promoting foot traffic the business complex and how?
Commercial space for lease -Sharp Realty
5. What are the procedures when renewing the lease or if expansion is needed?
Being prepared and having your answers before you lease will save a lot of time, money and discontent.  Most of all establish a good relationship with the property manager that is built on open communication.

Sharp Realty has served the served the commercial Real Estate community for over 20 years. Contact Sharp Realty to discuss our commercial space needs.

Sharp Realty
400 Union Hill Drive, Suite 300 Birmingham, Al 35209