Month: August 2021

How to rent empty industrial and warehouse space?

As you start with a new business and expand for the operation, there can be a need for a larger space than needed to manufacture or store the products or more people to discuss on a certain project. Warehouses, manufacturing buildings, multi-use spaces can be used for larger activities. These spaces are mainly used for the storage of products, storage fulfilments, and further distribution.

Here are some following tips on how to go about looking for more industrial space, including how you can make the best use of the space and the basic needs of the empty industrial commercial lease.

Determine the commercial space and the needs

The nature of the business is dependent on the type of property that fits well your business needs. The industrial property generally goes under one of the three different sets

–         Warehouse spaces

–         Industrial spaces

–         Flex a space or an empty property

There are many types of industrial space and each type of industrial space serves a different purpose. The main purpose of the warehouse is used for the store and distribution of products. The distribution center would come under a warehouse that is used for the distribution of the products, but if your business is not distribution-based then you can use it for big projects and discussions. Using a warehouse may require proper packaging and product labeling to prepare for distribution or further business.

Related Topic: How can empty conference rooms be used for renting?

A manufacturing space other than product distribution can be used for other activities like can be used for huge discussions and meetings, different sources like presentations, client meetings, documentation, etc.

A flex space or a mixed-use property is a combination of warehouse spaces and manufacturing space that can be used for handling the manufacturing and other needs all in one place.

The right commercial industrial space

The online property databases can make it easy for commercial and warehouse searches for the comfort of the home and office space. Once you have researched what type of property would fit in well for your business and you can use the database to compare the properties searched to meet the specific criteria.

When you start your research you decide on:

–         The monthly budget

–         The space you need

–         Where you are looking for a location for example empty offices, loading docks, ceiling height, etc.

Once you have researched online to identify the needs of a specific want to get a sense of the market, make use to connect on the commercial real estate professional space. Commissions are equally been paid by the landlord and the owner in the commercial lease market so that it doesn’t cost you much and it is affordable for you as a tenant.

Related Topic: How can empty shops be used for renting? 

Visit the commercial space

After all the research, make an appointment to see the empty commercial space in-person to see the space. Space may look perfect in pictures online but you will have to walk through each property which you will be able to access whether it meets your needs. You should put your demand about the space to the real estate agent, you may be able to make recommendations on the properties according to the client.

When you keep yourself organized, the expert will keep your potential on the research on the commercial space. One way to create a spreadsheet with the detail on each space you have.  Use the following category to compare the elements for the properties to include:

–         Compare lease price

–         Additional cost and expense

–         Time of the lease term

–         Property meets your needs

If you find an empty commercial space that doesn’t match your needs, you can ask your real estate agent about researching the space. There can be a point wherein there won’t be an option but it is worth asking to find a place but it would be quite right.

You can ask certain questions to the agent like:

–         Whether it has enough energy lighting but can save a lot of money

–         What preventions have been taken in the space

–         Is there any parking available

–         Is there enough clearance

–         Can the space be fitted well according to your needs

If you have found a perfect space according to your need, keep searching for the space. But the important question would be don’t you want to book the perfect space once you get it? The answer to that would be “No”

Why? Because there are two to three commercial properties that would work, it is not a compulsion to the idea to like the first space. With this idea, you can consider which one is best for you and the business. If you have a few properties to consider, you will have an upper hand when it comes to negotiating the terms because you won’t have to be desperate to close the deal.

Expert recommends you searching the three properties that meet your needs. And with that, you should consider making the offers and comparing the lease terms.

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How can empty conference room be used for renting?

Your office employees might find it difficult to conduct meetings when they are urgently in need of one. But when we walk around the office you might notice the less amount of rooms available in the office or the conference rooms might be too small for the meetings to be held. So in the end the problem isn’t the conference rooms but the poor space and the size of it. In addition to this, poor spacing and negative experience to the employees can also contribute to a lot of wasted money.

Related Topic: How can empty shops be used for renting?

To understand how to calculate budget to look out for spaces for conference rooms and meetings, the office has to calculate the cost of just one empty conference space where important meetings can be held for example, meetings with the clients etc. There are many empty office spaces which are filled with desks, and which can be used for renting and meeting. For owners, empty office space can be a blessing in blessing. This allows one to introduce employees to new workplace concepts with better concentration. Here are 5 creative ways empty office space can be used for renting which can be used for usable and purposeful work areas.

Create multipurpose area

The easy way to turn an empty space into a purposeful one is to understand the different possibilities of the usage of the empty office space. With many potential options available, creating a multi-purpose area is a catchball.

Make the empty office space a huge demand for different uses for example, conducting conference meetings, projects, guest speaking rooms, client meetings etc. For enclosed space create a huge lounge with a couch and some extra chairs. You can also perform presentations or can be in a meeting area.

The empty space is just not valuable to you. If you build awareness of it, employees can make best use of it for your business. Other unused spaces can give a variety of spaces.

Decide on long term and short term renting

The average lease on office space in India for renting is for a pretty long time. Shared office spaces can be one of the most intelligent options for co-working spaces if you need a few more desks for the foreseeable future. These both options offer flexibility and seats at a cheap standard rate.

Related Topic: How empty classrooms can be used for renting? 

Stay online

When you are travelling outside and you see banners stating to lease an empty office space with a phone number. But the conference space is near to your place you leave it wont hurt for you to give it a call and know more about the empty conference space there?

Calling the number in the sign is usually a waste of time. During the whole journey you are awkward while you are signing the empty office lease.

Not only for space owners, but for the tenants the space can be useful for them. There are many online sites wherein you can find empty conference spaces easily. Online platforms can give you information in detail about the empty space and can give different options according to your needs.

Make an affordable offer on affordable office space

If you find an office space but you aren’t sure it is the one, then don’t waste your time by making an offer for it. Doing this would include in the non-binding process. But even after making an offer, you can withdraw it anytime without any penalty for low risk that can be rewarding.

When you make more offers on the available empty space, it is more likely that you will get that empty space even if it wasn’t your first choice. In commercial real estate it is likely that the most sure deal can fall out from the hand.

Be patient as the lease signing approaches

Unlike for residential leases, commercial leases can take more time than required and to deal with it, it can take more time and patience for it. Every commercial lease has a unique agreement but there are different types of commercial leases that are available in the market in the process of this.

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How can empty shops be used for renting?

Space owners after owning a space should start getting creative and start thinking out of the box when the retail space remains vacant most of the time. Not only some empty spaces strain the property owner but it also starts creating an eye store in the community. As an easy way to remedy both the problems and to lease out the space out on a short-term basis. 

Many businesses lend themselves to this kind of temporary occupancy. Many shops give prop-up two to three months in advance spaces too. But some of the accounts are not the only ones who need temporary retail space.

Related Topic: How empty classrooms can be ued for renting

Marketers use pop-ups to sell their wares

Some marketers who have new products use completely new business, which will also be used for lease, specifically short term spaces to test the products or new businesses concept to determine it well. If any of the products or businesses are susceptible to some localized influences, then the market may lease down spaces in multiple markets to make sure it is covered in the entire demographics.

The empty shop’s space market has become popular with both landlords and tenants that have multiple sites online catering to landlords who want to list the properties as well as the tenants who are searching for the right opportunities. One such popular site wherein you can list your space would be www.myrsa.in to book property spaces.

Related Topic: What activities can be done in a short term renting space? 

The length of leases and other consideration 

The lease for such spaces usually stays for six weeks to one year, with so many non-seasonal retailers willing to sign in the month-to-month leases there could result in long-term tenancy.

This concept works the best where there is little or no space in the modification required. Generally, just by adding desks and chairs or some kind of display to fix it is all that is required. These simple additions and changes are easily implemented than torn down. Extreme modifications are not a stumbling block because tenants don’t want an easy move-in move-out phase, and the landlords want to become little and have no refit between the tenants.

The pros and cons for landlords

While there is a long-term lease commitment, there is a pop-up operation that is not wholly unattractive for landlords. That might be because the prospect of bringing some rent is better than having no rent at all. The aesthetic value that is there in the pop-up operation can add a location that would not be overlooked. It can also be used to help consumer confidence and show the retail space as being desirable. The short space to these leases can also give huge benefits to landlords by offering immediate mortgage assistance while leaving the potential prospects open for long-term leasers once in the market become favorable.

When to search for an empty shop space

There is no ideal time or season to search for an empty shop space if you are in a need to grow your business and you don’t have much space for it then you can search for more such spaces. For example, holiday decoration stores and gourmet goods, and gift basket providers need space for in the upcoming holiday season and that is usually in the summer season. For more information on empty spaces and more, you can visit www.myrsa.in

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How empty classrooms can be used for renting

Whether you are into a small business that is based out in a retail office or space, it is quite possible you are spending money on that particular space rather than making money on every square foot.

There are many ways empty classrooms can be used for small businesses. There are many strategies one can put to use in the right way to help earn extra revenue for the business. All it takes is imagination, brainstorming, and the right marketing.

To put it into place, here are few things to consider to bring in that extra revenue with the space for business.

Related Topic: What activities can be done in short term renting space? 

Lease out extra desks/ classroom space

Just like you, many small business owners are starting a small business on a low budget. They may start by working at the kitchen table to do their daily business or by sitting in a fancy Starbucks café. But with great concentration and growth, there has to be a small space of their own to do their business with themselves or with their small team.

It is very uncommon to find a space like an empty classroom to do their business who would find success to rent or buy so that they can grow into. Classrooms at this time can be used for businesses, meetings, important business discussions, etc. At the start, it can look a little unusual but with such spaces, small businesses can get the opportunity to grow their team and their business at the same time. The perfect space may be utilized for the business sometime in the future.

Set up the extra space in the classroom space as a rental or lease an empty desk in the back office. You can even make arrangements to have renters and make the best use of the classroom equipment’s like a board to explain a few things, tables to sit, etc. You can even arrange office during weekends or in the evenings when you and the staff aren’t present in the space.

Related Topic: Long term renting benefits 

Training classes and seminars

Does your house have enough space to hold seminars or training coaching places? Or does it have a classroom set up with a marker board and projector screen display? You can design workshops, seminars, or even training in the empty classroom. You can handle seminars on how to better handle finances, a home decorating workshop, and training clients can come to learn how better to use your product.

Another idea if your space is suitable and desirable as a training center is to rent it out for other businesses for training and seminars. Using an extra space for utilization could bring a considerable amount of revenue to your business.

Rent the equipment’s present in the classroom

Do you have special equipment or stationery that can be used for business? If you have a piece of special woodworking equipment, it can be best used for other businesses.

The equipment present in an empty classroom can be useful for others. There is another catering company starting that specializes in wedding cupcakes. There can be the use of the equipment once a week or every day by another specific person. You can rent out the equipment during off-hours as well. You can help other small business owners to succeed and help them bring additional revenue.  This goes for any other type of business or individual who needs access to special equipment that you may have.

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