5 Tips When Leasing Your Next Office
Finding a new office is one of the greatest feelings you may have as a company owner. In addition, knowing how to acquire a fair lease agreement will save you from unexpected costs and help you to stay away from avoidable extra charges. Landlords are entrepreneurs, and will always place their own interests above yours. You must be aware of this and negotiate well in order to get a fair lease agreement. The following steps will help you:
1. Establish a Clear
Vision Before you go out to start looking for an office, make time to understand your financial constraints. This will guide you when choosing the location and size of the office. Do not rely on your own estimations; a meeting with leaders from different departments of your company to discuss office needs will help you to budget effectively.
2. Allow for Time
Commercial leases have several requirements, which are way more complicated than those completed during the residential rent contracts. Be ready to spend months searching for an ideal office space and finalizing the lease agreement. The entire process can last anywhere between 12 and 18 months. When you start a commercial lease process early enough, your tenant representative gets adequate time to analyze your new office location to help you to make the final decision.
3. Begin the Search
Read about the current trends within your area of business and conduct online search for similar spaces within your target location. As you view the buildings, be sure to also check landlords and property management companies. You may then visit the commercial buildings you select to see the designs and other details within the physical location. One important task to perform during the visit is to find out if any of your competitors operates there.
4. Calculate Your Costs
Now that you have met with the leadership team and have gained some insight into the costs of moving into your new location, it is time to calculate the costs. As you do the calculations, ensure you include all the details from the lease agreement. This will help you seek clarification for any terms or charges that you do not understand.
5. Involve the Experts
This simplifies all the tasks you complete during a lease negotiation, and has the highest chances of giving you a fair lease. Tenant representatives like Jeff Tabor Group know the market and have a better understanding of current trends. You also won’t bear the costs of involving them in the lease negation, as landlords pay the tenant representatives. Working with these experts relieves you of the pressure of completing the complex lease process while also saving you time and money.
Moving into a new office can cost you a great deal of time and money if you do not approach the process wisely. However, these challenges are easily solved through access to valuable information and advice from knowledgeable persons. Correct your past office lease mistakes and follow the right procedures to find your future office space.
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