By Prasanth Gopinath on Jan 25, 2023 6:58:06 PM
Why do most companies prefer leasing commercial property? Cost being the most significant factor, drives the decision of leasing a commercial property. But leasing is more strategically convenient than buying a property. For instance, leasing eliminates the liability of maintaining a property, as the onus of ensuring maintenance regularity remains the property owner’s onus.
It proves to be a massive relief for the tenants, as they can then direct resources saved towards the business.
But finding the best commercial lease could be a bit challenging. Since leasing involves a considerable investment, you need expert help to find the best lease. If you are looking to lease a commercial property in Pune, here’s a blog that talks about some tips.
4 Tips to Find the Best Commercial Lease for Your Corporate Setup in Pune
While some are obvious tips and factors to consider, some aren’t as apparent. Let’s look at five such crucial factors you must consider before you sign your lease contract.
The Property’s Location – From Your Business Perspective
This is the most obvious of all factors to consider before you lease a commercial property in Pune. Thus, at the outset, you must examine the property’s location, specifically from the perspective of your business. The location should potentially benefit your business on the strategic and commercial front.
For instance, if you are a B2C retail enterprise, it will be prudent to lease a property in a project situated in the city’s prime location. On the other hand, B2B businesses can look for properties near business hubs from where most of their potential business stems or connecting highways via which your prospects and clients can reach you conveniently.
It is worth investing in a property with a slightly higher lease amount if it has genuine business expansion promise in the long run. The returns from such properties can outweigh the extra money you spend on operating at such a prime location.
The Property’s Condition – If it is an Old Property.
Old properties are tested and proven regarding their business generation potential. But they might come with maintenance concerns or liabilities that could shift your focus from your routine business. This can have an implying effect on your customers.
Hiring a property inspector can help here. They will inspect the entire property and help you decide whether to lease a space in the building or not.
Additionally, assess the property’s amenities and facilities. You don’t want to create discomfort for your prospects and clients, do you? Thus, ensure that the lifts are in working condition, there’s enough parking space reserved for you, the property has enough ventilation and natural light, the space has a corporate-level layout, the location offers excellent internet connectivity, and the property has the necessary safety precautions.
Terms and Conditions of the Lease Agreement – Inclusions and Exclusions
This is a complex part to deal with. Ideally, the lease agreement should be transparent and have all its terms, conditions, and clauses clearly laid out. Ambiguity, if any, should be immediately discussed with the property owner. Assuming things may make you repent later and affect your business.
A safer alternative to it is hiring a real estate lawyer and having the lease agreement and property documents validated and authenticated by them. An experienced lawyer can identify dicey clauses or terms and conditions and discuss them with the owner. Additionally, they can help you frame your terms, conditions, and clauses to protect your rights as a tenant. The idea is to ensure transparency, protect your rights and maintain a written record of everything to avoid any trouble later on.
Some common clauses to look for include fit-out period, lock-in structure, Force Majeure, equipment, facilities, use of common areas and maintenance charges, security deposit, signage area and parking area.
Calculate Business RoI Based on Real Time Projections
This might not concern corporate consulting firms or IT companies. But for corporate entities dealing with B2C products and services, it is worth comprehending the returns that the property holds for them.
The property’s owner or sales team will present projections about the RoI of their property. Insist on having proper, authentic, and rational reports based on real-time facts and figures supported by true evidence. Ensure that the source of information is authentic so that you don’t end up leasing a property about which you heard fairy tales but proved to be a nightmarish investment!
Looking to Lease Commercial Spaces in Pune? Invest in KWT!
Choose to lease a commercial property in PCMC near Pune at Kohinoor World Towers. KWT is an upcoming commercial landmark situated between Chinchwad and Pimpri on the Old Mumbai Pune Highway. The property’s proximity to various industrial and IT hubs in PCMC near Pune makes it an excellent lease choice. Additionally, the various amenities, facilities, and multi-sized offices that KWT offers perfectly resonate with the business needs of startups, SMEs as well as established global enterprises.
For more details, call +91 20 6764 1818.