Owning a business is not easy, especially if you have a business in a big city such as New York. One of the most important things for businesses is location. Manhattan is one of the NYC boroughs that has a big population, a lot of tourists and it is a financial center. So, you need to rent a business place, and you probably need some commercial lease tips.
On what to pay attention to and how to choose the best location for your business? As you already know, Manhattan is not cheap – it is one of the most expensive places in the USA. Also, it is not easy to find a place to rent. The real estate market is strong and very competitive. When you find a place you like, you should immediately take it. Everything is fast in Manhattan. Living in Manhattan and working there has its pros and cons, of course. Like in any other city in the world.
Commercial lease tips – Manhattan edition
If you are moving a business from state to state, you need to research the job market, competition, and the real estate market. Negotiating a commercial lease in Manhattan can be a time-consuming, overwhelming, and stressful process. The City offers so many things, but you need to work hard to accomplish everything you want. So, before signing any lease, consider these useful and simple tips.
Timing is everything so give yourself about 6-7 months to secure a lease for your business. It sounds like a long period, but time will fly fast. While you are securing it, you need to:
- Find a new space, and remember a good location is the key to a successful business.
- Negotiate a better deal (better price and terms). It is one of the commercial lease tips you should try always, not only in Manhattan.
- Get all required building permits.
- Renovate offices.
- Modify business office services (internet, phone, etc).
- Get furniture and equipment for a new office.
- Obtain insurance.
- After everything is over, you can move in
Get an attorney and a broker
Broker fees for commercial leases are customarily paid by the landlord in Manhattan – it is important to know. So, you can a good broker and not spend any money on that. He/she will help you find a space and help you with negotiating. Also, ask your broker about additional commercial lease tips. Keep in mind that brokers are paid a percentage of the annual rent. A broker will do all the paperwork.
Also, you need an attorney to review the lease agreement in detail. Do it, just to be safe.
Think long term
Make a business plan in a long term. It is better for a business. Also, landlords in Manhattan usually favor long-term leases. In this case, they are willing to lower down the price, so your monthly rent may be more affordable.
What is included in the rent?
Rent won’t be cheap, so make sure what is included in the price and what are additional fees. Or maybe hidden fees. Rent usually includes a fee for cleaning, water, electricity, taxes, but it is not always the case. So, you need to ask.
Find a plan B
What to do when a lease expires or you don’t like that location anymore? Negotiate a commercial lease and find the best solution for both sides.
Moving your business to Manhattan
What is the easiest way to organize a commercial relocation to Manhattan? The answer is: by hiring a location moving company that is reliable and experience with these types of relocation. This way, you will move faster, and also, you won’t lose productivity when moving.
Research movers online and ask other business owners for recommendations. Also, reach new premises hassle-free and you don’t have to worry about business relocation that much. A company you will hire must have a license and insurance.
Contact a couple of different movers and then compare their services and prices before making the final call. Moving all the office furniture, equipment, supplies, is not an easy task. Find a perfect solution for you and choose the best moving company to help you out with this process.
Renting a storage unit for business needs
First of all, you should know that rent is not cheap at all in Manhattan. It is the most expensive borough in New York City. This is one of the reasons why many business owners want to rent a storage unit. It is a safe place for all items and your office will be clean and organized. Which brings up many advantages.
When you are working in a space that is decluttered, your productivity will be on top. Another reason for renting a storage unit is – storing goods. If you are selling products, you will need someplace to store all those things. simplifystorage.com is one of the websites you should explore in order to find the perfect storage for you.
Also, think about renting a storage unit when moving and renovating a business office. Where will you put all those items while your office is under renovation? If you are moving your business in the summer, and the goods are sensitive to high temperatures, you will need a climate-controlled storage unit.
After exploring commercial lease tips, you will be able to find a perfect place where you and your employees can work and be productive. Leasing commercial real estate in Manhattan will be very stressful, especially when you know that the competition is very strong. But if you are good at what you do and unique, it is worth it. After all, NYC is the center of everything.