So, the search for a garage for rent has begun. What are you looking for? Is there a procedure to follow to make sure you are covering all the information you need to cover. Is it different looking for a garage for rent as opposed to an apartment for rent, or an office to lease? What questions should you be asking the leasing agent?
So many questions, so little time, so much apprehension . . . luckily for you, this article is going to provide clarity and much-needed answers about garage lease properties.
What do you need the garage for? Is this going to be a repair garage where you work on vehicles or appliances? What are the specific needs for your work? Power outlets most definitely, but is the garage wired for heavy use? Do you need drains on the floor? Does the garage have adequate lighting for your use? Is it adequately insulated and soundproofed? If you are working with heavy machinery, and the garage is part of a business park, you’ll need that soundproofing. Do you need a roll-up door? Make a list of specific needs common for the type of work you’ll be doing, and make sure garages you look at can meet those needs.
The next item on the checklist is common for all real estate transactions: location! Is the garage easily accessible? Is it near major commercial areas? Residential? Industrial? Is there easy access to freeways and major arterials? Are there many industrial properties for lease in that area? If so that might signal a problem.
What does comparable real estate (garage) rent for? In other words, is the shop space for rent price fair for the area the garage is in? This requires a price search, but you can do it online in a matter of an hour or so. And is there any chance that rental price will go up drastically in the near future, or is it locked in? Small businesses cannot handle drastic increases in rent. More than one business has folded because they didn’t lock in the rental price for a specific amount of time, you want to make sure you do that.
How flexible is the garage construction, and how reasonable is the renting party? Put another way, if your small business grows, is the garage you are renting capable of handling that growth, or will you have to move again in the very near future?
How enjoyable are your neighbors? If you are in a small business park, working next door to another business, are you in a creative and enjoyable environment? You’ll most likely be working there every single day; it would be a shame to sign a lease and then work next door to a less-than-enjoyable neighbor.
Finally, have that rental agreement looked over by a lawyer. This is too important of a decision on your part. Your business’s life depends on it. Do your due diligence!
If you are in the Fort Worth, Texas area, check out the newest business park in the Alliance Area, Box Office Warehouse Suites, the first and only business park in that area made entirely from shipping containers.
It’s a revolutionary idea which just might change your way of thinking as you begin your search for a garage for rent.