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Popular Terms for Warehouses Leasing
Leasing warehouse space is critical for corporate businesses that have a lot of goods to store and just don’t have the space on their own property. They pay monthly to maintain the space, which should include security, ventilation, and temperature controls. Businesses need extra space for storage of anything from furniture to cars to electronics. Tenants pay a monthly rent based on a number of factors, such as total number of square feet. To lease a warehouse, you’ll need to consult with a real estate agent skilled in renting warehouse space for furniture or other use. Refer to these top terms when researching warehouse leasing options.
Commercial real estate – Different from residential real estate, this type focuses on land-based property that generates revenue and is used for business storage purposes.
Surplus charges – Extra fees on top of the base rent, such as additional taxes, load fees, and Common Area Maintenance (CAM) fees.
CAM fees – There are two types of these extra fees: variable CAM fees, which can change over time, and fixed fees, which do not change. These costs help the owner of the commercial property defray direct expenses for common areas, such as hallways, lobbies, and parking lots.
Option to renew – This is a clause within a lease agreement that allows the tenant the option to renew the lease at the end of the contract. You may have the option to renew at a predetermined fixed price, rather than be at the mercy of the current fair market price.
Use clause – A clause within the lease that specifies how the space can and cannot be used by the tenant. This is to protect the landlords’ property, but be sure to review the fine print so that such clauses don’t impede on your company’s operation.
Warehouse leasing is commonly done all over the world. Many professionals lease or rent a warehouse space or property in order to use it for business purposes. Then there are others who simply rent a facility like this for storage reasons. As you may know, there are many commercial warehouses for lease in the United States alone. Some of which are used by furniture companies that require ample storage space. This way when customers visit a furniture store and make a purchase, the merchandise may actually be shipped to their home or business from a storage facility. This is common in many trades of businesses.
There are different things people have to consider when leasing a warehouse space. First of all, is the property or facility only going to be used to house goods or merchandise? If it is, then proper ventilation may not be important. However, ambient temperature is often important. The square feet or available space in a warehouse is also typically important to the one renting it. For instance, if the facility is used to house imported and exported goods, then it will likely need to be a specific size. The same is true if the property is used as an office. If people are going to be working inside the facility, it is very important that they are temperate inside.
Other issues that are often addressed with commercial and industrial warehouse units for lease are location, temperature control, security, and the contract that applies to the rental. It may also be important for trucks to be able to access the facility for deliveries.