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Many successful companies - both large and small - choose to lease their commercial real estate instead of buy. There are many advantages to being a tenant: It reduces upfront costs, lowers ongoing expenditures and gives you and your business much-needed flexibility.
The brick and mortar storefront for selling products and services can range in size from a small boutique to a large department store. As you search for commercial space for your business, it’s important to know about some of the expenses you may need to budget for so you can have a successful renting experience. Here is a list of possible leasing expenses we think you should know about.
Rent
Obviously, you know you’ll need to pay rent, but be sure to ask about how long your rent amount is locked in for, and what the schedule is for any possible rent increases. This will allow you to budget accordingly.
NNN expenses
These are triple-net leases where the tenant is responsible for the base rent, along with property taxes, building insurance and the upkeep of common areas such as lobbies, parking lots and restrooms.
Utilities
Most leases do not include the cost of utilities, such as water, heating, air conditioning and electricity. The leasing company may be able to provide ballpark amounts for these expenses, or you might be able to ask another tenant in the building. The range of expenses could be different depending on the size of the space you need.
Load factor
The rent amount of most commercial leases is calculated based on rentable square footage instead of usable square footage. Rentable square footage includes a portion of shared areas used by other tenants, and is calculated using a load factor.
Furniture
Most commercial spaces don’t come furnished, so be sure to leave space in your budget for furniture. In addition to desks and conference room tables, you may also need seating and decor for your reception and waiting areas, the stock room or meeting spaces.
Camden Management is here to help you find the commercial space that is right for you and your business. From office to retail space, we provide the support you need to run and grow your business. We have beautiful, desirable spaces in a wide variety of locations to serve your business needs, and we always help our tenants understand their leases and the expenses they may incur. If you are interested in expanding your business and would like to learn more about Camden Management, please contact us. We look forward to working with you and helping your business reach new heights!
Source of content: camdenmanagement.com/blog
It doesn’t matter where you live or how spacious your apartment is, the kitchen is never quite big enough for all of the tools and appliances you have on hand. By being creative and resourceful, you can fully utilize the space you have, and make your kitchen storage areas stretch further than you ever imagined. Here are eight tips for maximizing your apartment’s kitchen space.
Tip #1: Utilize your cabinet tops
If your cabinets don’t extend all the way to the ceiling, you can use the top of your cabinets to store items you don’t use often, like a cake stand, large stockpots, a pressure cooker or a roasting pan. If you have smaller items to store, consider purchasing decorative baskets for your cabinet tops. All of your extra kitchen items will be beautifully hidden in plain sight.
Tip #2: Use the inside of cabinet doors
The inside of your cabinet doors is a perfect place for an over-the-door organizer. Some store kitchen towels and potholders, and other types can hold utensils, spices, oils and cleaning supplies. Best of all, over-the-door organizers don’t require screws and nails for installation, which is ideal for a renter.
Tip #3: Use all the cabinet space available
Many cabinet shelves are adjustable, and if yours are too, you can add raised organizers to make the most of this space. This is ideal when you have multiple products of varying sizes on one shelf.
Tip #4: Make the most out of your under-the-sink cabinet
Most people use this area for cleaning products, but this cabinet is both wide and deep. It’s ideal for storing cookie sheets, muffin pans, pots and lids.
Tip #5: Use Command hooks
Available in different sizes, Command hooks are a great option for hanging mugs from the underside of your cabinets, storing lids and displaying decorative items. They can also be used to hang brooms, mops and light sweepers. Since Command hooks peel off, they don’t damage walls or cabinets.
Tip #6: Look outside your kitchen
If your kitchen is bursting at the seams, look around your apartment for other storage opportunities. Maybe you have an empty dresser drawer, extra space in a hutch or even some room under the bed. Utilizing other storage spaces in your apartment is a great way to keep items accessible but hidden from view.
Tip #7: Buy a kitchen cart
Kitchen carts are a versatile option for storing extra kitchen supplies and appliances in a convenient and decorative way. Some even come with wheels for easy relocation should you need the extra floor space.
Are you searching for a place to call home? Camden Management is committed to helping you find the perfect apartment for you. With many locations and amenities available, we’re confident you will appreciate the charm, beauty and convenience our apartment communities offer. Contact us today to learn more about Camden Management and get one step closer to finding your next home.
Source of content: camdenmanagement.com/blog
If you are a pet owner looking to rent an apartment with your furry family member, you may have a few extra hoops to jump through. Be sure you understand your apartment’s rules and restrictions so you can be a good tenant, good neighbor and responsible owner of a happy pet.
Here are a few tips to facilitating harmony between your pet and your apartment complex:
Tip #1: Know the rules
When you are researching apartment options, be sure to read their pet policy. Some might allow them, but there may be rules about the size, breed, number of pets, etc. Do your homework before you fall in love with an apartment that says “no” to your loyal companion.
Tip #2: Consider your pet’s temperament
Most cats are laid back, low-maintenance and independent, but a dog’s temperament can be a toss up. If you have a dog that barks constantly at people or other pets walking by, when the air conditioning kicks on or when the doorbell rings, it might be disruptive to your neighbors. If you really want a dog, look for a breed that is known to have a calm, pleasant disposition. A large, hyper dog that has energy to burn may not be the right choice for apartment living.
Tip #3: The first floor will be your friend
If you have a dog, living in a townhouse or on the first floor will save you the hassle of elevators and steps when taking him out, especially when there is a potty emergency.
Tip #4: Keep your pet up-to-date on shots
For the safety of the people and pets around you, make sure your pet is current on all vaccinations and parasite preventions.
Tip #5: Give your pet plenty of exercise
Most dogs need and enjoy fresh air and exercise. Look for an apartment complex that has walking trails or an open space where your dog can run freely or socialize with other dogs. Daily walks are good for both of you!
Tip #6: Clean up after your pet
It goes without saying that it’s important to pick up after your pet. No one likes to step in (or have their dog step in and track) your pet’s droppings all over the community. Always take a bag with you, or purchase a waste bag dispenser that attaches conveniently to your leash.
Tip #7: Establish rules and routines
Part of creating a happy, balanced atmosphere for your pet is by establishing rules and routines in your apartment. It’s important to be consistent. Your pet will be confused if he is allowed on the couch or bed one day but not the next. If you have a dog that chews, offer lots of chew toy options so they don’t go for your furniture legs or baseboards.
Tip #8: Get renter’s insurance
Most apartment complexes require renter’s insurance but make sure you have enough to cover any damage your pet makes. Even the most obedient pets can have slips in judgment. Cover yourself so you don’t get stuck with a serious repair bill.
Camden Management is committed to helping you live in your apartment successfully with pets. There are many pet friendly apartments in Kentucky and Ohio and we know how important these furry family members are. Contact us today to Learn more!
Source of content: camdenmanagement.com/blog
If you’ve just launched a business or are ready to move your business out of your home office or garage, you will have to decide whether you want to buy or lease commercial real estate for your office space.
When you lease a commercial space for your business, you are renting it from its owner. Leases are available for a set term, at which point you can renegotiate if you wish to continue operating your business from that location.
Here are a few reasons why leasing commercial space would be a good choice for your business:
More Flexibility
When you buy commercial real estate, you have to make a significant down payment, usually between 10 percent to 40 percent of the property’s value. You are also responsible for the closing costs and appraisal fees. Renting gives you more flexibility because you don’t have to tie up as much cash as you would if you were buying.
No Major Repairs Or Upkeep
Significant maintenance problems and upkeep will be the responsibility of the property owner. So if the furnace needs replaced or the roof is leaking, you won’t be footing the bill.
Fixed Expense
Your rent will be the same each month so you can plan your budget accordingly. You also won’t need to worry about the incidental expenses that come up when you are the property owner.
Tax Breaks
As a renter, you can deduct your whole lease payment, property insurance, property taxes, maintenance and ongoing costs such as utilities from your taxes.
Expanded Location Opportunities
By renting, you can have access to prime, sought-after commercial real estate locations that may not be available for purchase. It’s usually easier to qualify for a lease than a commercial real estate loan, so you have more options of operating your business out of a highly desired office location.
Flexibility
When your lease is up, you will have the option to renew if you’d like to rent the commercial property for another term. This gives you the flexibility to change locations if you need or want to. You are not locked into a mortgage, committing you to a specific location and leaving you vulnerable to real estate market fluctuations.
At Camden Management, Inc. we are committed to the success of our clients and we know that happens when you have a practical, functional space to work out of that promotes productivity and teamwork.
Contact our team today to learn more about why leasing is such a great option!
Source of content: camdenmanagement.com/blog
Whether you’re starting a new business or looking to grow, the right commercial property is a key component of your success. You want to make sure you have plenty of space and are in a location that suits your business’s needs. Searching for the right property takes time, which can be stressful if you’re trying to stick to a deadline, but knowing what to look for can help you find the perfect commercial space you need to thrive. Here are a few tips for narrowing down your search.
Zoning
Before you start scouting locations, it’s important to know local zoning laws in potential neighborhoods. That’s because they regulate what kind of activities are allowed in certain areas. You don’t want to be stuck with a lease on a building you can’t use. Depending on your business, it also helps you narrow down potential locations as well.
Location
Location is key when it comes to business. Things like accessibility, nearby competitors, parking and neighborhood safety are all important things to consider when looking at properties. Before you consider signing a lease, research the neighborhood to make sure it offers foot traffic for example, if that’s important to your business.
Price
You want to make sure you’re getting a good price on your rent, and you want to stay within your budget. Check with your local Small Business Development Center to help find funding to make sure you can handle your rent.
Use a Property Management Company
Looking for the right property on your own can be a lengthy process. If you’re trying to stick to a timeline for opening your business, working with a property management company helps. They can speed up the process by showing you available listings with your goals in mind. That way you find the right property and stay on schedule.
Go Over the Lease
Commercial leases can come with a lot more specifics than residential leases. Depending on what kind of business you have, you want to make sure there’s no restrictions that can limit or hinder your operations and day-to-day functions. Luckily, leases can be tailored to meet specific needs and functions. While there may be specific clauses about operating hours, on-site equipment and clientele, you can likely negotiate on upgrades and on-site maintenance.
Find Your Next Business Space with Help from Camden
If you’re in the market for a new retail or office space for your business, Camden Management can help. Our relationship-based management style means we work hard to understand your goals and. So contact us today to find out how Camden Management can help.
Source of content: https://camdenmanagement.com/5-things-to-look-for-in-your-next-commercial-property/
