March 10, 2025
Whether you’re launching a new venture, expanding your operations, or relocating to a better-suited space, securing the right commercial property is a crucial decision.
The process of renting a commercial premises differs significantly from renting a home, with various factors to consider. To help you make an informed choice, we’ve outlined the key steps to finding the perfect premises for your business.
Define your business needs
Before you start viewing properties, take the time to clearly define what your business requires from its premises. Consider the following questions:
- Size: How much space do you need now, and how much will you require in the future?
- Location: Do you need a central location with high footfall, or will a more cost-effective out-of-town location suffice?
- Facilities: Does the property need specific features, such as parking, storage, or meeting rooms?
- Accessibility: Will staff, customers, and suppliers find it easy to reach your premises?
By having a clear idea of your requirements, you can avoid wasting time on unsuitable properties and focus on spaces that genuinely support your business operations.
Work with a commercial property expert
Commercial property transactions are more complex than residential ones, so partnering with an experienced agent like Jacobs Steel can be invaluable. We can:
- Help you find properties that match your needs and budget
- Guide you through the negotiation process
- Explain lease terms and conditions
- Offer insights into market trends and rental values
A reputable agent will also have access to off-market opportunities that may not be publicly listed, giving you a competitive edge.
Understand the lease terms
Unlike residential leases, commercial leases are often longer and more detailed. Before signing, make sure you fully understand:
- Lease length and break clauses: How long is the lease, and can you exit early if needed?
- Rent reviews: Will the rent increase over time, and how is this determined?
- Service charges and maintenance responsibilities: Are you responsible for repairs, or is this covered by the landlord? Find out more about commercial property maintenance obligations.
- Use restrictions: Can you operate your business freely, or are there limitations on how the space can be used?
Legal advice is highly recommended at this stage to ensure you’re fully aware of your rights and obligations.
Assess the condition of the property
Once you’ve found a potential premises, conduct a thorough inspection. Look for:
- Structural issues, such as damp, cracks, or outdated wiring
- Necessary modifications, such as fitting out office spaces or installing additional facilities
- Compliance with safety regulations, including fire safety and accessibility requirements
If the property needs work, discuss with the landlord whether they will carry out repairs or if the responsibility falls to you.
Consider future growth
Your business may be growing faster than you anticipate, so it’s essential to plan ahead. Ask yourself:
- Will this space still meet your needs in five years?
- Is there room to expand within the building?
- Can you negotiate flexible lease terms that allow for relocation if needed?
Choosing a property that accommodates future growth can save you the hassle and costs of moving again too soon.
Budget beyond the rent
The cost of renting commercial premises goes beyond the monthly rent. Be sure to factor in:
- Business rates
- Utility bills
- Insurance
- Service charges
- Fit-out costs
Understanding the full financial commitment will help you budget effectively and avoid unexpected expenses.
Secure the right space for success
Finding the right commercial property is about more than just location and size – it’s about ensuring the premises support your business goals. By carefully considering your needs, working with a knowledgeable agent, and reviewing lease terms thoroughly, you can secure a space that helps your business thrive.
Wondering if you should rent or buy commercial space? Read our guide.