Steps To Follow When Renting A Commercial Property In Newport

The very nature of Newport has made it a place where business thrives. A plethora of roads and railway networks, easy accessibility, and state-of-the-art facilities have made the place a lucrative destination for investors. You may even qualify for a grant of up to £500 that is available to pre start-ups and to businesses that are aged one year or less.

If you are thinking of renting a place for your business at Newport it is a great decision. The place would automatically bring you a host of benefits. However, you have to be mindful about a few things. Keep reading to find out what.

Take a closer look at your lease: Spend as much time as you have to in understanding your lease. The time and effort thus spent will go a long way. This will save you many complexities that may arise later on. A lease contains many small details. For instance, if you need to give a notice to your landlord. If so, how many days before moving out should that be. Failure to follow these small things may cost you money that you might have saved otherwise.

Negotiate: Try to negotiate a lower rent with the landlord. This might be easier when the economy is going through a tough time and difficult when there is an economic boom. However, there is no harm in trying. Moreover, if you are renewing the lease, you stand a better chance at negotiating a lower rent. This is because, your landlord may be more inclined to respect the trust between the two of you and would want to avoid the hassle of looking for a new tenant.

A lease contract for three years or more usually has a clause about rent review. In simple words, this means the rent will increase after those three years. Try to push it at least to five years.

What about the added expenditure: Sometimes paying for insurance, electricity, gas, and the likes are put on the tenant’s list of responsibilities. Your lease document should state it. Take a good look to find out what applies to you.

Assess the condition of the property: Even before you move your office to the new place, make sure you have a detailed assessment of the property written and signed. This will protect you from any unjustified fines when you move out. It is better to choose a place that does not need any major repairs. In case you damage some parts of the property, it is better to repair it before moving out. Settling for a sum of money instead of doing the repairs yourself might cost you more.

Finding the ideal commercial property in Newport is not hard. All you need is proper research and attention to the details. The process is made simpler by websites with property listings. All you need to do is get online and shortlist from all the available properties listed.

Begin your search at the NetMovers.

About the author:
Sam Jones writes for Netmovers Commercial & Residential Departments. You can find him on Google Plus here.