Q:

How do you rent a retail space?

A:

Quick Answer

To rent a retail place, research the market and rental companies, and consult a real estate broker. When you find a place you want to rent, negotiate the terms of the lease, and have an attorney review the contract before signing.

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Full Answer

  1. Research the market

    Before renting a retail property, research the market in the area to make sure it is a suitable place for the business you're opening. Verify that the demographic of the location meets your retail company's target demographic, and explore the local competition. Then, consult with a real estate broker about the area and what places are available for rent.

  2. Investigate the rental company

    Once you find a property that looks ideal for your business, investigate the landlord or rental company. Check for any warning signs that the person or organization may not be reputable. The Better Business Bureau has reviews of businesses available online, including listings of some court records.

  3. Negotiate and sign a lease

    Before signing the lease, try negotiating the cost or any conditions of the contract with which you disagree. Some landlords or rental companies may lower the rental price for certain circumstances, such as a poor economy. If you're able, once the contract is finalized, have an attorney verify that it doesn't contain any surprises or misinterpreted information.

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