When people start a business, they often have a short supply of inventory. As their operations grow, their inventory expands.
This growth is often an exciting time for growing companies. However, it also poses a problem. The demand for your product may require you to supply more than you can store.
Fortunately, there’s a solution to this problem. Instead of expanding your building, you can rent warehouse space to store your products. Alternatively, you can use it as a base for shipping and distributing goods.
Warehouse space can solve many problems for a business. But, you may not know how to rent this commercial space for your company.
If so, don’t worry! You can learn how to rent the best industrial space in the guide below.
Consider Your Commercial Space Needs
Generally, there are three types of industrial properties. These include warehouse space, manufacturing space, and flex space.
Companies use manufacturing space for creating their products. Flex spaces allow a combination of warehouse and manufacturing processes on their premises.
Before you rent a space, determine which of these categories best meets your needs. Then, consider the type of lease you want.
Types of Leases to Rent Warehouse Space
Commercial leases are often more complex than their residential equivalents. Usually, this complexity comes from tailoring the lease to a business’s needs. Commercial leases come in two categories:
- gross leases
- net leases
Gross leases charge higher monthly rent that covers all necessary costs. These costs include taxes, insurance, maintenance, utilities, etc. Many people prefer this lease since it lets them focus on their business.
Alternatively, a business may choose a net lease. Net leases require tenants to pay a base rent price each month. In addition, they also pay pro-rata shares of other expenses.
How much a business pays depends on how much of the building they occupy. Sometimes, this option helps a company save money on their rent.
Finding the Best Warehouse Location
The next step in finding the best warehouse is finding the best location. Where would it make sense for your business to store its inventory?
Many businesses prefer to keep their warehouses in areas that are a roughly equal distance to each location. You may not need this feature if you use your warehouse for distribution.
Also, consider the security around your warehouse location. Criminals sometimes target warehouses as prime theft opportunities.
Finally, consider what features your warehouse includes. Older warehouses often include outdated technology that slows down your operation.
In contrast, new warehouse buildings often have updated technology. For example, you may rent warehouse space with smart warehousing technology. These systems could streamline your operation and make it more efficient.
Find the Warehouse Space You Need
Keeping this information in mind can help you rent warehouse space you can afford. You can use these tips to find the best lease for your needs.
Additionally, you can also find a warehouse with the ideal location for your company. This way, you can get goods to your locations or customers in a timely fashion.
So, start your warehouse search today! Before long, you’ll be able to rent the facility you need.
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