Before buying or renting any property – commercial or residential – due diligence is paramount.. Here are the 6 things you should take into account before renting a commercial space:
1. Amount of rent
Affordability of rent would be the most obvious thing to consider before renting any property. However, the more important aspect is to negotiate and seek clarity upon the percentage increase in the rent year-on-year.
2. Duration of lease
The duration will vary greatly according to several conditions. For example – if you’re a budding entrepreneur planning to open an office or a retail shop, then the safer bet would be to opt for a shorter-duration lease since the company’s performance and growth is unpredictable. However, if the brand is well-established, then there is no harm in going for a longer lease.
3. Ability to sub-lease
Say you’ve signed a 10-year lease. Three years down the line, your profits are soaring and the business is witnessing an unexpected level of growth. You need to expand, you need more space, and you probably need a better location. In this scenario, breaking the lease might prove financially detrimental. Sub-leasing can act as a saviour in this regard. Make sure you negotiate with your landlord on the option to sub-lease and the nitty-gritty surrounding it.
4. The location
The location of the commercial space might make or break the business. Hence, it’s essential to ask yourself the following questions – If the office or shop is far away from the city, is the brand value enough to lure employees or customers? If it’s in the centre of the city, what sort of competition is it staring at?
Does the property have ample parking space? Is there a well-maintained and hygienic restroom in the property? Are there food and beverage joints close by? Pick and choose the amenities most important to you – they will make the first impression on clients and define the work culture for employees.
6. Operation costs & maintenance
It’s vital to seek clarity on who’ll be taking care of the operating costs, maintenance, and other additional charges such as electricity, housekeeping, security, property insurance and tax, etc. Merely being able to afford the rent won’t suffice. If you do not account for these expenses, you might suffer a rude shock at the end of the month.
If you're looking for commercial spaces in Goa, explore Gera's Imperium Grand. Nestled in Patto Plaza, Panjim, it's in the heart of Goa's central business district. It has 8 floors of commercial space and is designed for 160 offices and 10 retail spaces with plenty of parking.
I’ve been a sports person, and also captained my throwball and volleyball teams. I understand the importance of extracurricular activities in our growing up years.
Trainings provide a child with the required discipline when working within teams as well as gives one the chance to follow what makes you happy. It also enables an overall development!
Dance has been my passion since I was a child and I have been thrilled to see both my little ones have this in their genes too.
This opportunity really came to my doorstep through Gera. My daughters Lavanya and Diya have had an enthralling experience being a part of not just one but three Academies (The Shiamak Davar Dan..
I cannot thank you enough for making our journey with Gera so so interesting and mind-blowing. I had never ever imagined my life taking a beautiful turn with me beginning to start my career as a music teacher that too with SMA (Shankar Mahadevan Academy) and all this has been possible only because of GERA and YOU my dear.
It is only because of your efforts and kind gesture that I could meet the man himself (Shankar Ji) and have a small recording session with him. That was like a dream come true.
I am super excited to start my journey with SMA and Gera as a teacher now.
Apart from that, Me and Prateek have always been grateful to you for making Shiamak happen for us and I ..
It was indeed a pleasure being a part of the Christmas celebrations at Astoria. Kudos to the Gera team for bringing in such a wonderful event with great carol singing participation from our own kids. It brought in the spirit of Christmas and the games, Santa, the gifts only added to it. Thanks for organising such a wonderful event which helped in community building...looking forward to many more such celebrations!..
The Christmas event organised at Astoria was a big success and a big step in bridging the gap between us and Gera. It was a memorable event as we are still in the beginning of our journey of life in our little home at Astoria. The kids have been the happiest of all and what more can we ask for when we see smiles on the faces of our little ones. Kudos to you and your team for making this event a huge success! Looking forward to many more in the years to come...
The Christmas party organised by Gera at Astoria this year was a great success with good participation from kids and parents. Our children Sia and Saish enjoyed the party to the fullest. Sia, in particular, had a gala time and reiterated her stand that Anita aunty's parties are THE BEST.... We as your customers take much pride in informing our friends that such goodwill gestures are one of the many differentiators Gera brings to us, which no other builder in Goa can boast of. Many thanks to you and your team for doing an excellent job in putting up this event. We look forward to the next one! A big thanks to the Gera Management for its efforts in community building...