Many small and medium-sized business owners look for rental warehouses. However, most of them do not have enough capital to rent the best warehouse they need. That is when they can borrow a Business Loan to optimize their warehouse rental strategy. Doing preliminary research helps save time and money and prevents any disappointment by choosing a space that does not work for them.
Businesses use warehouse spaces for various purposes like production or storage. Since each industrial property has unique pros and cons, one must understand its intended use and ensure it meets all requirements. Below listed are a few ways a Business Loan can help optimize the warehouse rental strategy according to the MSME’s requirements.
Rent a Warehouse with Sufficient Storage Space
Business owners looking for a warehouse facility to rent must measure its area and ensure it has sufficient storage space to protect the goods. Since most landlords charge the rent according to the available square feet area, they must do their calculations appropriately and pay for the actual space they occupy.
Besides, they must also consider the ceiling height and ensure sufficient vertical space, especially if they need to stack boxes, pallets, or items. If there is some unnecessary stacking space, paying rent for a warehouse with a high ceiling is of no use. Consider these factors while choosing a warehouse space and apply for Business Loans for timely rent payments.
Check the Electrical Capacity
Prospective tenants must check the warehouse building’s electrical supply to ensure it meets their power requirements. If the owners want to use heavy electric equipment or vehicles inside the warehouse, they must ensure enough power supply to charge them for day-to-day operations.
Hiring an electrical engineer for proper inspection and evaluation is a wise step before leasing the warehouse property. Cover all these costs with an MSME loan and ensure renting a warehouse with sufficient power supply.
Give Attention to Zoning
Municipality divides land into different zones to ensure urban development. These zones define the types of properties and businesses allowed in a particular area, be it commercial or residential. Before applying for MSME Loan For New Business to rent a warehouse space, give attention to the prospective property’s location and the zone in which it lies.
Check the Parking Space
Business owners need parking spaces for various purposes, including pickups, deliveries, overnight parking, etc. Since these are long-term costs that require regular maintenance, a Business Loan can help cover the expenses if it comes under the tenant’s liability. Moreover, one would need extra capital if they want a parking lot big enough to accommodate the business needs. If a business relies on a trailer or a tractor, the parking space should be wide enough to contain these vehicles.
HVAC (Heating, Ventilation and Air Conditioning)
Before signing the lease agreement, it’s essential to check who is responsible for installing, repairing, and maintaining the HVAC system and rent accordingly. If the rental warehouse does not have a full building HVAC and the tenant’s business requires it, installing it would be an expensive investment that business owners can easily fund with small Business Loans. Even if the property already has an HVAC system, an MSME loan can provide capital to repair or maintain it properly.
- Ensure Security
Security is one of the most crucial factors to consider when optimizing a warehouse rental strategy, especially if the business owners need to store valuable items. They might lose considerable amounts if someone breaks into the warehouse and steals the goods. Business finance loans can assist them in installing a fence around the warehouse or activating an advanced security system. It is a vital step to prevent intruders from gaining entry into the warehouse.
Since renting a warehouse is a multi-year investment, taking out a Business Loan to optimize the space is a good idea to keep it safe and operational.
About the Author
Amaira Sharma is finance expert and former business growth strategist who has more than 8+ years experience in the industry, now she helps others to get better financial stability and standards. She loves to write useful tips on personal finance and businesses.