Choosing to rent or lease warehouse space can be a very beneficial move for new or small businesses. When you rent warehouse space, you will save money and free up valuable office space in your facility. The extra space you have in your office or building will give your company greater potential for growth and flexibility.
The first thing you need to do when researching a warehouse facility for lease is identify the aspects of a storage facility that you require. Think about the items you will be storing in the warehouse and whether you need electricity, temperature control or running water. Will you need to conduct business from the warehouse? Some warehouse space for rent can only be used for storage. If you need to have employees working in the warehouse, you’ll want to make sure the space has restrooms, proper ventilation and a break room. Lighting warehouse Some warehouses also have office space that you can use, as well as showers and couches for longer stays.
If you only have a small amount of items to be stored, your warehouse may have a monthly rental fee, usually calculated by the amount of square footage you use. If you anticipate needing to rent the warehouse space for longer, you may be able to sign a 6-month or 1-year lease. Ask the warehouse manager if they offer any customizable renting plans that can be tailored to fit your storage needs.
Also ask the warehouse landlord about the safety of the building. Make sure the warehouse is up to code and whether any updates or construction is planned. You may also wish to check with other tenants of the warehouse to see how they feel their storage needs are being met, and about the quality of the storage services the warehouse landlord provides.
If you foresee doing a lot of shipping/receiving, you’ll want to choose a warehouse with easy access to a major interstate, thoroughfare or perhaps a seaport. Make sure your warehouse space is located close to the delivery dock for easy loading and unloading.
If you have purchased your own warehouse equipment, make sure it is insured. The warehouse landlord’s insurance will not cover losses to any of your inventory, so make sure you purchase your own separate insurance. You may also want to purchase liability insurance in case any of your employees is injured while working in the warehouse. If an accident occurs in or around the warehouse, you may be found just as responsible as the warehouse landlord.
Be certain you fully understand your warehouse lease before you sign it. Ask questions of the landlord and make sure there aren’t any hidden fees and expenses. You may want to have your attorney look over the warehouse agreement so you can have a better understanding of your rights as a warehouse tenant.