When it comes to a retail area for lease in Gurgaon, it can be a challenging and daunting task. A wrong move can result in catastrophic consequences for your business. It is quite natural that competition for the best location is always high, so you should be prepared to make some arrangements that aren’t deal spoilers. The process of the retail space might be frustrating but a solid plan with complete objectives and must-haves will surely secure your future.
Invest Wisely
Due to immense competition in the retail area, the business might have some uncertain events that you cannot cope with in the future. This ranges from fake listings to doctored photographs to making false promises. It becomes important to identify the best and true deals near you for a shop for lease in Gurgaon.
As renting a retail space will incur a high operational cost for your business, it is advised to take time in research for obtaining the best rent space. Also, consider the following factors while looking for a shop for rent:
Amenities- This plays a major role for a shop. Your shop should be located in a convenient place that includes other shops, parking, security guards, lifts, escalators, etc.
Location- The most important aspect of high foot traffic. Your shop will be on everyone’s wish list if it is located in a prime location. This main reason that renting spaces in popular shopping locations will increase the cost of the lease.
Term of Lease- Taking out a long lease of more than a year may put you in a better position to negotiate about time and lease amount.
Rental Conditions- The less you have to spend on interiors the more money you will save. If the rental shop has been used by someone and you have used counters and accessories, you have the advantage to remodel them according to your requirements. Get ready to pay more for the retail area for lease in Gurgaon that has been renovated from the owner’s end.
Competition- Plays a major role. If there are similar businesses that are running in the same area, you might not be able to accommodate them in that area. The reason is simple; the existing shopkeepers have a loyal customer base. Usually, people do not switch from their existing shopkeepers if they are getting good services from their end.
Different types of Leases
There is no such thing as one size fits all leases. Different landlords will offer various lease offers. The key difference between leases is the costs that each party is responsible for.
Here are some of the lease offers you can get from your landlord’s end.
Single Net Lease – Tenant is required to pay the property tax and utility bills. The landlord is not liable for other costs like insurance etc.
Double Net lease – Property taxes, utilities, and insurance are the tenant’s responsibility. The landlord is liable for maintenance.
Modified Net Lease – Expenditure is equally divided between the tenant and the landlord.
Triple Net Lease – The most common type of lease. It states that you will be accountable for the primary expenses but the landlord will be responsible for the structural repairs.
For negotiating the lease pricing, a broker might work as the best person to secure the lowest price. Also, in exchange for the commission, a dealer will do all the paperwork and formalities from their end. The golden thumb rule is not to act desperate.
Show your dealer and the landlord that you have other options and you can leave the deal in between, anytime. Being too enthusiastic will be a signal that there is no need to negotiate and the landlord can consider your keenness as desperation.
