The internet has allowed many people to pursue their life’s passion by becoming solo or entrepreneurs. Following the Great Recession, many Americans were suddenly left without jobs following nationwide layoffs. Some workers had held the same position for decades.
However, creativity and resilience is often born out of difficult times. As such, countless Americans used the Recession as an opportunity to reinvent themselves by changing fields or pursuing entrepreneurial ventures, many of which became very successful.
It’s common for home-based online businesses to quickly grow beyond the confines of one’s home, be it the garage, office, living room, kitchen, etc. Like many up and coming entrepreneurs, you may soon — or already have — found yourself in a similar situation. Therefore, you may want to consider renting commercial real estate space.
Renting commercial real estate includes renting a warehouse, leasing retail space, or leasing office space, or a combination of the three.
There are several advantages to renting commercial real estate, such has having additional space. This allows you to be better organized and remain clutter free, which in turn will greatly expedite your day to day business operations.
For example, leasing a warehouse not only gives you access to a larger amount of space, but depending on the kind of warehouse you rent and your lease terms, you may also have access to experienced warehouse staff. This not only ensures your inventory is properly managed, but also that deliveries are made on time. This proves especially useful during the chaotic holiday season.
When leasing or renting commercial real estate, you’ll be required to sign a commercial lease. Commercial leases are similar to residential leases in that they are legally binding contracts. A commercial lease outlines the specific terms and conditions of the period of time you’ll be occupying the property.
It’s important that these terms are thoroughly understood by both parties before they’re agreed upon. If you have questions or concerns regarding the lease, it’s best to address these with the landlord or property management company or a lawyer.