Commercial real estate in Maryland is more complex than residential, so you don’t want to go into it blindly. Looking for an office space for your business can be a very exciting process, but also one that requires careful attention. Excitement can cause you to overlook some very important details of your lease. Here are three mistakes to avoid when leasing office space in Maryland.
One of the biggest mistakes people make when leasing their first office space is not doing the proper research on the current real estate market. If you don’t consider all of your options, how do you know that you’re making the best decision?
You can choose to do research on your own or hire an agent to do the research for you if you aren’t at all familiar with commercial real estate. The real estate market is constantly changing as properties come and go, so stay on top of current listings until you find the way that best fits your needs.
Once you’ve narrowed down your options to a few favorite office spaces, you have to analyze which one is best for your business. Often times, people fail to communicate efficiently with the landlord, which can lead to misunderstandings and extra costs that you were unaware of. The best option is to communicate with the landlord face to face.
Messages and words can get misconstrued via email and other forms of digital communication. Create a list of questions to ask the landlord before and after viewing your potential office space so that you can get all the necessary property information before making a final decision.
As mentioned before, the commercial real estate industry can be complex. When looking for the perfect office space in Maryland, don’t hesitate to ask for assistance. Commercial real estate agents are there to help you find the perfect property with in-depth knowledge of the industry. An agent will ensure that no detail is overlooked.
Leases can be very long and extensive, so an agent can help you go through each part so you understand exactly what it is you’re signing for. They will assist you in negotiating lease details and reading the fine print to ensure that there are no hidden costs within the lease before signing.
Want to find an ideal location for your growing Maryland company? At Newspace Commercial, we fully represent the tenant looking to find the perfect commercial space.
Born from AJ Properties, an Anne Arundel County based commercial real estate firm, Newspace Commercial is designed to focus solely on Tenant Representation services, ensuring that you find your perfect business space, avoid mistakes, and negotiate the best deal.
For more information, visit our website www.newspacecommercial.com. To contact us, give us a call at (410)-218-1372!