How To Choose And Rent Business Property In Johannesburg
Location and your business premises play a very important role in whether your business is a success or not. This is why you should put a lot of thought and research into it before deciding whether or not a location is the perfect space for you to rent. Business Property that is up for rental is advertised in various newspapers as well as online. Sifting through all the options can be quite a daunting task.
Johannesburg is considered by many to be the business centre of South Africa. When looking to rent any property in Johannesburg, whether it is industrial, residential, office or retail space, the area is very important. This is because of the current crime rate in the city. Researching the safety of the area is a vital part of your planning. If you do not want to be in the city of Johannesburg but close enough to do business, you could rent business property in Pretoria or Midrand.
What To Do Before Choosing A Business Property For Rent
Before you even start looking in the classifieds for business properties for rent and for sale, you have to evaluate your business needs first. This means deciding on budget you have to work with including the amount that you are willing to spend on a deposit, monthly rental fee and shop fitting. Once you have worked out your budget you should consider what exactly you need from the property. This would include the size, fittings, parking and location.
Once you know exactly what you what you can start looking in classifieds and on the internet. It would also be a good idea to enlist the help of estate agents as they would hear about available properties that you would not know about.
The Legal Issues Around Renting Business Property
There are many legal issues around renting any property, commercial or residential. For this reason, it is always a good idea to see your lawyer if there is anything you do not understand or are unsure about. It is very important to make sure you fully understand the lease before you sign it. This would prevent any misunderstanding between yourself and the lessor.
When you do go through the lease make sure it contains certain details like exactly what modifications (regarding fitting, painting, shelving, branding, etc.) you can make to the property. The lease should also specify who will be responsible for the maintenance management of the property. It should also state the rental amount you will pay each month for a fixed period of time. I personally would not recommend signing a lease agreement for a period of longer than one year initially as if the location of property does not live up to your expectations you can move on and not be trapped in a lease.
Should I Rent Business Properties Or Buy Them?
Many business owners ask the question, “Should I rent or buy the business premises?” This is a very valid question and the answer is that both options have both pros and cons. If you decide to rent business property in Gauteng you’re start-up capital would be much less than if you decided to buy the property. However, if you buy the property your business acquires a fixed asset whereas if you rent the property you simply incur an expense every month.
In the end, it is really dependent on you and your business needs whether you should buy or rent business property. If you do decide to rent the space and follow the above guidelines, then you’ve taken your first steps in ensuring the success of your business.
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