Building spaces, single storefronts or even a huge basement area for the market can be broadly covered under the commercial property that is for the lease purpose. Many of the offices and supermarkets are built on commercial properties.
These properties can be leased for individual work purposes, company workspaces or corporate workspaces as well. Such places can be resold, leased or given on holdings for commercial real estate leases.
Types of Commercial Real Estate Leases
Most of the builders in the cities and metropolitan, construct a building in such a way that it may be given for the lease for many purposes from personal to commercial. Commercial real estate for leases is broadly categorized under four categories according to the working styles:
1. Gross Lease – In this type of lease the individual concerned is liable to pay only the base amount of renting the property. Additional expenses incurred in the form of maintenance, real estate taxes, insurance, etc are all paid by the landlord.
2. Net Lease – The amount payable by the party concerned also includes a specific portion of the additional expenses along with the base rental fee. Insurance, taxes on property, and maintenance are shared between the landlord and the tenants.
3. The Triple Net Lease – In this form of lease, the tenant is liable to pay all the expenses related to the property along with the base rent amount. The triple Net Lease is exactly opposite to the Gross lease as the tenants are also responsible for pay-off maintenance, taxes, and insurance.
4. Double Net Lease – This form of lease makes the tenant liable to pay all forms of expenses which include base rent amount, insurance, and property taxes. However, the maintenance amount is to be paid by the landlord concerned.
Some people lease property and give it to others for the same purpose at a higher rent so that they can earn a better profit margin. Keeping a student or a working individual as a paying guest is another form of lease. Some people even buy such places so that they can either resell or give them to other people as commercial property leases.
How to Determine Which Type of Lease you Need
As there are many types of commercial real estate mentioned above, choosing which one will be suitable for you can be tough work. You may not have enough time to roam around the whole area in search of proper space for yourself. Confused and worried you might visit a broker or a real estate property dealer?
Every real estate property dealer or broker that you might visit will tell you about the kind of real estate you would want. However, most of them will try to manipulate you to get the one they are dealing with to gain some profit from it and may even take extra charges.
There are some websites and apps that may help you in getting the desired workspace. You can even directly contact a building owner or a builder for a space required. But that may not be a very trustworthy process.
So, before taking commercial real estate for leases, you must ask yourself a few questions.
- Why do you need to lease space?
- Is it for commercial or personal use?
- What do you want for a space, a front store space? An office space?
- How much space will be good enough for your purpose?
- Will that space be affordable to you?
- How long are you going to use that space?
- Which area or locality that space is located in?
- Who owns that space?
- Does that space have a good or bad history associated with it?
Well, as you keep moving towards the answers to all these questions, you will have better clarity. With a better picture in your head, it would be easier for you to find commercial real estate leases.
With a clear vision comes a better decision.
What to do after deciding the type of lease you need?
Now that you have all your answers to the questions above, what are you supposed to do next? Are you ready to move to a new place? Can you trust the dealer or the broker that tells you about the space? Can you trust the website or apps enough to move in the space?
The answer comes to you naturally – you need to check these places by yourself and make sure these spaces are well-facilitated.
Here is what you should check for:
You may check for the proper natural lighting as well as electrical connections there. Also, confirm the electricity supply for that area.
- Make sure that the space has easy accessibility to the water facilities.
- Find out if that space is within the short range of a hospital or a medical store.
- Checking for fire alarms, emergency exits and well-insulated electricity wires is a must. Old wiring can create disasters like short circuits.
- Try to find if transportation facilities are convenient from that workspace.
Know about the locality along with your neighbourhood properly before moving into that commercial real estate for leases
Conclusion:
Does all of this seem too worrying for you? Are you still confused about real estate? We understand that commercial property is hard to find, but this is why Ambrosia Galaxy is here for you. With the assistance of Ambrosia Galaxy, you can now rent properties by activating the different forms of the lease [identified above] according to your preferences.
The premium real estate company provides proper guidance and helps you in finding your dream space so that you can build it into the space of your desires. For more information on commercial real estate leases, you can visit the official website of Ambrosia Galaxy.