For many companies, the outright purchase of a new facility isn’t nearly as cost-effective as renting space. However, there are potential downfalls to renting business space. Whether you operate an office-based business providing professional services or a retail company, parking for both your staff and your clients or customers can easily become a problem when renting a unit in a shared facility.
Despite the many potential perks of leasing in a pre-existing commercial space, the lack of control over parking and the fact that you must share it with other tenants can often lead to unpredictable issues that could actually hurt your business. Ensuring that your landlord upholds their obligation to provide parking as promised in your lease may be important to success in your new space.
Those currently negotiating a new lease or about to renew an existing one should push for favorable terms for parking lot space allocation. Those with an existing business may have to ask their landlord to enforce their parking lot rights or hold their rent in escrow if their landlord fails to provide them with adequate parking.
Parking problems can create difficulty for any company
We live in an area governed by convenience. Individuals who want to patronize your business may change their minds if circumstances inconvenience them. A lack of nearby parking could send your customers or clients over to a competitor. Employees can also become upset with the lack of adequate parking, particularly those who have to close the shop at night, for whom a lack of nearby parking could be a serious safety issue.
Potential parking lot problems could include one tenant having far more traffic than planned or provided for, damage to the parking lot making certain sections inaccessible, or construction in or near the parking lot prohibiting people from accessing parking spaces or your facilities.
It’s important to protect the parking space closest to your business and have your landlord earmark them for your business in the lease. In the event that the landlord does not allocate specific sections of the parking lot to individual tenants but only a portion of the total lot, it’s important to monitor the use of the parking lot to ensure that the spaces allocated to your business are routinely available to your staff and customers.
Your landlord should protect your rights to parking
Whether there’s construction nearby or another tenant has unusually high levels of traffic, your landlord has an obligation to provide facilities as outlined in the lease that you executed.
If your landlord won’t take action to protect your right to parking access, you may have to hold rent in escrow until the situation receives adequate attention. Taking legal action to enforce the terms of your lease may also become necessary, but given the risks that parking problems pose to your company, not taking action could prove to be a serious mistake.