How Do you Select the Commercial Property or Warehouse To Rent in Johannesburg West?
A real estate agent listing a commercial property in Johannesburg West should undertake a detailed property inspection before they give any indication of price or rent to a landlord or property owner. In only this way can they really know what the property is all about; that is what positive and negative aspects the property can create as an investment of Small Office Warehouse For Rent Near Me .
Every property is different and for that simple reason it pays to have some form of checklist to run through when as an agent you are listing the commercial property in Johannesburg West . The focus of the inspection will change depending on whether the property is to be for sale or for lease but here are some of the key issues that you would want to know about in listing of the commercial property for rent.
Interesting Facts About Warehouse and Commercial Property To Rent in Johannesburg West :
Getting hold of a commercial property is tough. This cannot be compared with getting a residential property for lease. There are many factors which can turn the most lucrative deal against you. Also there exist a lot of factors that can affect the business opportunities as well profitability if such a property is not chosen without thinking about the pros and cons.
To choose a proper place we need to look for the right place where we can have our business running smoothly. In such cases many people rely on their own instinct and go ahead with their own strategy and plan to get a lease. They may succeed or they may fail. But if you are looking to get a commercial property for lease, you must always find a broker who knows the tricks of the trade. Getting a broker will help you in selecting the right properties in the area of your choice.
The general areas that may or may not be mentioned specifically in the agreement need to be addressed properly and you should come to a decision regarding the up keeping of the common areas. However, even if not mentioned, you are responsible for maintenance and utility of the area you have taken on lease. The tenure of lease may be fixed by both the parties and can range from anything from 2 years and more. If you want to leave the place before normal deadline, you must be ready to pay out the remaining period by giving a termination fee.
The Benefits of Owning Commercial Real Estate
Commercial real estate as an investment can provide great returns, but it can also cause some serious headaches if you do not do your homework and go into the deal with your eyes wide open. Commercial property can include residential multiplexes and apartment complexes as well as more traditional business and warehouse buildings. Whether you are buying commercial real estate for profit or simply to house your own company, before you buy you should do all you can to avoid the following common pitfalls.
Have a Thorough Title Search Performed
Before making any real estate purchase, whether it is residential or commercial it is essential to get a complete title search to identify any liens or other problems with the title. The title of a property is basically the history of the deed changing hands and whether or not there are any unresolved claims to the deed by previous lenders or contractors.
Plan for Market Fluctuations
There are no guarantees in the real estate world. The value of both residential and commercial properties is subject to ups and downs based on economic conditions and on changes in nearby development.
You have to be prepared for fluctuating tenancy rates if you use your real estate as an investment property, or for possible changes in customer base and the values of properties around yours.
All of these factors influence the worth of your real estate as well as your ability to make your mortgage payments. Make sure you choose a property that you can easily afford even during months (or years!) when the economy is not in your favor.
Where is Small Office Warehouse For Rent Near Me in Johannesburg West?
A warehouse is a commercial building used for storage of goods while warehousing is the process of proper storage and handling of goods and cargo using scientific methods in the warehouse and making them available conveniently when needed. In today's scenario, warehousing is considered as one of the most important aspect of trade.
Need for warehousing
- Some commodities are produced in a particular season only. To ensure their off-season availability, warehousing is needed.
- Some products are produced throughout the year but their demand is seasonal. Warehousing is important in such cases.
- For the companies which opt for large scale production and bulk supply, warehouse is an unavoidable factor.
- Warehousing help companies ensure quick supply of goods in demand.
- Production of goods and their movement of goods are important for the companies for continuous production of goods.
- Warehousing is also important for price stabilization. For necessary goods, the Government stores them in the warehouses and control its supply in the market as per the price fluctuations.
- Another important need of warehousing is for bulk breaking. Consider a trade agent who imports goods from a country for a large number of buyers in his own country. He first takes the goods to his warehouse and break it into small parts for supply to the buyers.
- When it comes to cost saving, warehousing helps the traders with cross docking. All the goods are consolidated in the warehouse and then stuffed into containers as per their destination. This is especially beneficial for small traders who export low quantity of goods.
Characteristics of an ideal warehouse
- It should be conveniently located near highways, railway stations, air ports, sea ports etc. for loading and unloading of goods.
- Mechanical appliances should be there to lift, load and unload goods.
- It should be spacious enough.
- Food storage warehouses should have enough facilities to prevent food from perishing.
- Proper arrangement to save goods from sunlight, dust, rain, moisture and pests should be available.
- Sufficient parking space should be there to facilitate quick and easy loading and unloading of goods.
- Security arrangements should be strict and round the clock.
- Modern and tested firefighting equipment should be installed in the premises.
Commercial Property: Is There Any Land Options?
Trying to understand commercial property lease terms can seem like navigating a mine field - there is plenty of new terminology and industry jargon to comprehend. When it comes to negotiating, some landlords may try to pass off a lease document as "a standard lease" that all tenants must sign. In many instances, unknowledgeable tenants could end up agreeing to terms that are less than favourable - which are in fact not standard policy. Be wary of the following clauses:
- Early Termination - this clause often allows landlords to terminate the lease early and reasons for the early termination may or may not be given. Resist the inclusion of such clauses in your negotiations.
- Default - be wary of onerous clauses that allow a landlord to evict a tenant if the rent has not been paid within a week of the due date. While it may seem standard, it is more typical for leases to stipulate written notice be given to tenants at least 14 days before any consequences are enacted. Negotiate for required written notice in the case of default.
- Redevelopment - try to avoid redevelopment clauses that allow a landlord to terminate the lease in order to redevelop or renovate the premises.
- Indemnity - be aware of indemnity clauses that indemnify the landlord against claims for loss or accidental damage by the landlord. Be sure to check your insurance policy to see if an indemnity clause on your commercial property could violate your policy.
- Handover dates - the handover date is the date the premises are turned over to the tenant to begin the installation of fit-outs, before the fixed commencement date of the lease. Avoid leases that allow a landlord to alter the handover date without compensation - as you could find yourself incurring substantial costs if you are delayed or caught unprepared for fit-out construction.
- Make good - a make good clause generally requires the tenant to leave the premises in good condition upon departure. This usually includes the removal of any fit-outs that were installed by the tenant during the term. If your premises come installed with fit-outs, negotiate to alter the "make good" clause to a general expectation to leave the premises in good condition and repair.
There are plenty of other clauses and terms that can be negotiated - from who is responsible for whose legal fees as well as any upkeep, repair and maintenance costs. Many businesses will find that they have much more success negotiating lease terms to help reduce their costs rather than trying to get a landlord to come down on price. A tenant broker service can help with the lease "legalese" - they'll help you get a better understanding of what your options are.