Tips for Making an Offer on Commercial Property

Are you planning on expanding your business or perhaps just moving to a bigger and better location? If yes, you will undoubtedly need to look at commercial space and ultimately make an offer on it. Do you have prior experience doing this? If you do not; have no fear, we are going to give you some helpful tips on how to negotiate a lease on a commercial real estate property. You may want to jot down some notes; school is now in session.

The first tip we have for you is to determine what your needs will be. You may want to create a checklist of those needs you deem to be essential. These needs include how much space you will need, how much parking space you will need, and will you need a lot of storage space. Perhaps the most essential need will be for a prime location near major highways and/or public transportation. There will be somethings you think you need but that you really can do without. Maybe once you have met your essential needs, you can also consider some of these. However, keep these on the back burner for budgetary reasons.

That brings us to our next tip; your budget. Every business typically has a budget; especially when it comes to a major expense such as moving. You will want to know what you can expect to spend on your new property. Also will you be renting it or buying it? Those are major factors in negotiating your commercial property deal. You also ought to compare the costs of the different properties you are looking at and how they stack up against each other. You are going to want to do some studying on this subject.

One crucial tip we have for you is to know what the laws and regulations are that govern where you will have this property. For example there are neighborhoods that permit commercial properties in largely residential areas. However, the majority of neighborhoods either feature one or the other. This is especially important to know if you are downsizing your office and looking to run your business out of your home. Even if you are looking for a commercial building; it is still important to know if any local ordinances will affect your business BEFORE you sign a lease or buy the property. It might also be wise to seek the advice of a local real estate attorney on this matter. Better safe than sorry.

One last tip we will leave you with is to know what you are doing. Do your homework before you even begin to look at making an offer on a commercial property. The tips we have provided here are just the tip of the iceberg. There are more where these have come from. You can go onto the Internet and do a search. You will find links to articles such as this one that ought to prove helpful. Additionally you may want to contact a realtor that specializes in commercial property. He or she can give you some excellent advice.

Elgin Office Space Leasing

Elgin, Illinois, situated 35 miles northwest of Chicago, is a city which offers options for business owners of various sizes. This is especially true for those who wish to lease office space there. Elgin is located in both Kane and Cook counties and has a population of approximately 110,000 individuals, a size which is quite beneficial for business owners who open their doors in Elgin.

New Housing in Elgin Means More Customers for Businesses

In the past few years, Elgin has seen a surge in new homes, townhomes and condos being built. With the large population base and more housing being created for individuals moving to town, this is a big pull for business owners and a reason why many businesses come to Elgin to lease and buy commercial office space.

Plentiful Transportation Options

Due partly to the fact that Elgin is one of the larger cities in Illinois, the transportation options are readily available. There are three Metra stations in Elgin, including National Street, Elgin and Big Timber Road, along with the Pace bus line which runs through the city at various stops. Amtrak may be planning a future stop in Elgin as well in 2015. For those traveling by car, Elgin is surrounded by various interstates, specifically I-90 and I-355, as well as a vast amount of local roads running through town.

Retail Stores, Restaurants and Entertainment Options in Elgin

There are many wonderful shopping options in Elgin. From well-known national retailers such as Payless Shoe Source and Family Dollar to more specialized local shops including Fat Cat Custom Guitars and Shockey Jewelers, Elgin offers much in the way of shopping. Dining establishments are also wide and varied when it comes to national chains and local restaurants. Some of your dining options in Elgin include Chooch’s Pizzeria, Crave Deli, Dunkin’ Donuts, Gasthaus and more.

For entertainment, Elgin offers the Elgin Symphony Orchestra, Elgin Public Museum and plenty of city parks and golf courses. Whether you crave indoor culture or outdoor activities, Elgin has quite a bit to offer its residents, business owners and business employees. There is also the Grand Victoria Casino in Elgin, for those who like to do a little bit of gaming and indulge in casino dining and entertainment.

Common Questions About Corporate Lodgings

Approximately 40% of travelers in the USA choose corporate housing for business-related reasons, making this industry boom in recent years. There are many choices as regards accommodation for longer trips and extended stays, and choosing the right accommodation makes all the difference between an enjoyable and productive trip and a stressful and frustrating one.

What options of corporate lodging can I find?

Standard rental apartments: These are generally rental properties that require 6-12 month lease commitments. They are usually unfurnished, and differ in location, price ranges and amenities. Renters must personally arrange for utilities cable, internet and other services and appliances and basic furniture must be arranged for by the tenant.

Hotels: Very popular for travelers on short-term trips. Guests have a single room and the furnishings will vary from one hotel to the next. Some rooms may have a small fridge, a sitting area and maybe a microwave, but usually not much else. Extended stay hotels often provide budget friendly suites with a kitchenette and a bathroom area in addition to the above.

Serviced and furnished rentals: Condos, apartments or residential homes let out on a month-by-month basis, making them an ideal corporate lodging arrangement for indefinite stays. They are typically located in upscale city locations with convenient access to workplaces and premium amenities. They come fully furnished, and linen, cookware, appliances, utilities and cleaning services are arranged for by the managing company.

How do I narrow down the best options for me?

There are many questions that will determine the kind of lodging that would be the best for you on your business trip. Some include length of stay, number of people coming for the trip, access to work, services and amenities required, etc.

Cost: hotel rooms are ideal for very definite and short-term trips; if you’ll be staying longer than a month, consider temporary stay apartments which are cheaper. You may consider rentals if staying for 6 months or longer, but remember that you’ll have to take care of things like furniture, deposits and utilities yourself. The monthly furnished rentals are the best for extended but temporary stays since you can renew them monthly depending on how your work is progressing.

Privacy: Temporary stay apartments are the best option as far as guaranteeing privacy and space, since they are essentially a home setting. Hotel rooms offer almost no privacy as the staff and owners may come and go during the day as they see fit.

How do I find corporate lodgings?

The best way to find the appropriate housing arrangement for your business trip is to seek professional accommodation service providers, who know the best and most suitable accommodations given your budget, requirements and work locations. You can get luxurious monthly furnished rentals strategically placed in secure locations near your workplace, malls, entertainment centers and public transportation and with all the amenities that you need.