Wednesday, September 17, 2014

4 Ways to lower the rental cost of your business premises

Being in the property business for many years, we have been requested numerous times to lower rental cost for specific premises. It is not always possible for various reasons and often such a request is denied.

We have some suggestions on what you can do if you need to lower the rental cost of your business premise.

(1) Request to subdivide your premises.
  • Discuss the possibility with your landlord.
  • This will immediately lower your rent and the landlord has a new tenant.

(2) Ensure that the marketing for your business is up to standard.
  • Many small businesses neglect this aspect and rely on the shopping centre to draw feet to their business. 
  • The higher your revenue and the more profit you make and the less you worry about the rent you are paying.  
  • The rent is then low compared to the profits that you are making.

(3) Negotiate a smaller area upfront with the landlord.
  • Especially if you are starting up your business.
  • This will minimize your expense from the start.

(4) Know exactly what your space requirements are. 
  • Do not take more than you require.  
  • Rent exactly what you need.

In the market to rent an office or shop?  Nethold Group has quality premises available in great locations at affordable prices.  Visit our website to find out more.

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