Whether you’re a small business owner or a retailer with multiple locations, you should keep a few things in mind before signing a lease agreement or contract to ensure maximum success for your venture.
1. Location
Location is one of the most important factors when leasing retail space in Houston. Look for a space that is easily accessible to your target market, with good parking and visibility. If foot traffic is important, check the walkability.
2. Rent
The rent for retail space in Houston varies depending on the area, type, and size of the space. Before signing a lease agreement, understand the rent and any additional fees, such as maintenance costs, taxes, and utilities… Often referred to as NNN-Triple net.
3. Zoning Laws
While Houston doesn’t have much zoning, there are some areas and localities that do. These rules dictate what types of businesses can operate in certain areas. Make sure you research the zoning laws in the area you’re considering and confirm that your business fits within those guidelines.
4. Lease Terms
The lease terms for retail spaces in Houston can vary. Before signing a lease agreement, ensure you read and understand all the terms and conditions, including the lease length, renewal options, and any space restrictions.
5. Buildout
If opening a new retail store, you may need to modify the space to fit your needs. Ensure you understand the buildout process and any associated costs before signing a lease agreement.
6. Competition
Take a look at the competition in the area you’re considering. Are there similar businesses nearby? Is there enough demand to support your business? These are important factors to consider before signing a lease.
7. Accessibility
Accessibility is important for all types of businesses, but especially for retailers. Look for a space that is easily accessible by car or public transportation and has ample parking for your customers.
8. Security
Look for a retail space with adequate security measures, such as security cameras, alarm systems, and good lighting. This will help protect your business and keep your employees and customers safe.
9. Maintenance
Before signing a lease agreement, ensure you understand who is responsible for maintaining the space, including the HVAC, plumbing, and electrical systems. It’s also important to know who to contact in case of emergencies.
10. Negotiation
Don’t be afraid to negotiate the terms of your lease agreement. If you’re not happy with certain terms, such as the rent or length of the lease, talk to the landlord to see if there’s any room for negotiation.
Leasing a retail space in Houston can be daunting, but with the right information and preparation, it can also be successful. By keeping these 10 things in mind, you can make an informed decision that’s best for your business. Remember to do your research, negotiate when necessary, and enlist the help of a qualified real estate agent if needed.
Are you ready to lease a retail space?
