Running a business in Indiana can be rewarding, but we know that managing expenses is no walk in the park. One of the biggest costs you’ll face? Your commercial lease agreement. But don’t fret! As your go-to commercial realtor in Indiana, I’m here to guide you on how to save money when signing that next lease.
1. Know the Market Rates
You’re in luck! Indiana’s commercial real estate market has seen solid growth, especially in cities like Indianapolis, Carmel, and Fishers. According to the Indiana Business Research Center, office space in Indiana is competitive, with rental prices averaging $16 to $20 per square foot in prime areas. Knowing the going rate helps you avoid overpaying. You wouldn’t buy a car without doing some research, right? The same applies to your lease!
2. Negotiate for Longer Terms
Leasing for a longer period (say, 5 or 7 years) can actually save you money in the long run. Landlords love stable tenants, so they may offer lower monthly rates or extra perks to lock you in. Plus, you won’t be stuck renegotiating every few years.
3. Look for Hidden Costs
Keep an eye on those additional fees. It’s not just the base rent you need to consider; triple nets (NNN), maintenance, and property taxes could sneak up on you. A savvy agent like me will help you understand and negotiate these costs, ensuring your lease is truly cost-effective.
4. Ask About Tenant Improvements
Landlords often offer improvements to make the space more suitable for your business. Whether it’s fresh paint, new flooring, or upgrading electrical systems, don’t hesitate to ask for these upgrades as part of your lease negotiations.
5. Hire a Commercial Realtor
Did I mention how important it is to have the right agent on your side? I’m licensed in Indiana and specialize in helping businesses like yours secure the best commercial leases in the state. My knowledge of the market means I can negotiate terms that save you money and set you up for long-term success.
If you’re ready to find the perfect commercial space at the right price, I’ve got you covered. Let’s chat about how I can help you save money and make smart lease decisions. Reach out today!
Need help?
Contact me now, and let’s start saving you money on your commercial lease agreement!
