Both renters and landlords have something in common when it comes to commercial properties. For each of them, furniture rental can play a key aspect for each of their business prospects. Furniture rental is a good way to set up a business in rented or leased space. Those who are trying to lease a space may also consider renting furniture to stage the space or rent a furnished space for a potential tenant.
Renters and landlords
Reaching a mutually beneficial leasing agreement takes some measure of compromise on each side of the table. Landlords will want to find a high quality tenant and give the tenant a reason to stay. A turnover of about 3 to 5 years is common so keeping a good tenant feeling at home is of critical importance. Renters will need to impress a landlord with their reliability and stability as well as their business acumen in order to secure the best properties and locations.
Being the Landlord
When looking for that perfect tenant, the focus for the property becomes how to present it in the best possible light. The location and amenities are of course the main features that will be important for a tenant. However, the space alone doesnt always make the sale. Sometimes, even with prime commercial properties, furniture rental can really add to the space.
Not every renter has an interior designers eye or their sense of space. A landlord may need to show, rather than tell, how great their commercial property is and how perfect it will be for the renters needs. This can be achieved with creative and effective furniture rental.
Staging isnt just for residential real estate. Commercial rentals can also benefit from staging. A few strategic pieces can define a space and its uses. A staged room tells its own story while blueprints, a set of measurements or an empty room often needs explanation.
A landlord should take time to stage before showing a commercial property. They might want to choose a few pieces, like a reception desk or a conference table, to create the structure for the space. Landlord also may want to consider the clientele that will be attracted to a space. A law office or financial planner will not have the same needs as say, an architect or a retailer. Landlords should think about the size and location of a property, in addition to the type of renter that is most likely to see it as a desirable space.
As a landlord, its not necessary to completely furnish an entire suite, but it may be beneficial to give the prospective tenant an idea of how the space can best be used. However, for the right renter and the right lease terms, some landlords have included an allowance for rental furniture for a specified length of time. This could be just what a start-up business or a relocated office needs to get off the ground.
Being the tenant
Furniture rental can also be a big help when locating commercial property. The capital to make large scale purchases might not be available when first acquiring commercial office space. The business might be a start-up or a newly opened office without the large budget for the funding to buy a large quantity of new furniture. Renting furniture is a smart way to get off the ground in style.
Renting furniture also shows the landlord that the renters have good business acumen. It demonstrates that the business is smart enough to know how to keep some funds in reserve until the business sustains a certain profitability.
When it comes to commercial properties, furniture rental just makes sense. For both landlords and tenants, there are some smart reasons to rent instead of buy.