Guide To Finding Commercial Property For Lease
Finding commercial property for rent in the city can be a daunting process. In today's tight real estate market, stories abound of real estate hunters seeing scores of units before finding a suitable one, only to be outbid by a prospective tenant with a check in hand. It is also common to hear anecdotes about unbelievable deals on centrally-placed commercial property found simply by word-of-mouth. How does one find their way through this maze of choice and options?
There is no end to what real estate hunters can do to find a commercial space in a city, especially large metropolitan ones like New York or L.A. Here are a few tips to help you navigate the property market in a big city and to find the perfect commercial property for lease:
Property Management Services or Agents
One of the most common methods of finding a place in a big city is by consulting a real estate management service. If you know which neighbourhood you want to lease property in, you might want to consider a local property management firm and consult their listings. Since most property owners register themselves with property management services, consulting them ensures that you will find a space that is well maintained and in great condition.
Word-of-Mouth
A substantial number of people find commercial property for lease by word-of-mouth, mostly from friends, relatives, and co-workers. If you're looking for property to lease, make sure everyone you know, knows that you're looking.
Classified Ads
The third most common method used by recent movers is a classic; the classified ad. Many newspapers now post their classifieds online, so make sure to consult both local papers and online message boards as these are extensively used to advertise available property.
Use a Referral Service
Referral services are a growing resource that savvy hunters, especially those who are comfortable looking for property online should not neglect. For a monthly fee these services will provide you with a list of no-fee rental options as soon as they become available.
You can also speed up the process by doing your research. If you find a property you want to rent, go prepared! Check your credit history and bring along a current credit agency report. It is always a good idea to carry a letter of reference as well. Hopefully, these tips and tricks will help you find the space you are looking for. If ever your find yourself stuck, don’t hesitate to consult a commercial real estate management firm.
