Renting office space is a big decision whether you are a new business or startup or an established existing business. You don’t want to choose just any office. You need to make sure that the office space you lease meets your current and future needs. You don’t want to just settle on anything. In most cases you will end up signing a 3-5 year lease so it’s important that you pick the right one from the get go. Below are some things to look for as you tour properties. Make Sure It Meets Your TimingYou need to make sure it meets your timing. If you have to be moved in within 30-60 days then you should focus only on offices that are 2nd generation…meaning they have been built out and occupied before. Only consider properties that need minimal improvements (think carpet, paint, and maybe adding or removing a wall or two) A space that is in shell condition (brand new, never been built out) will take 4-6 months to make ready depending on the size, permitting process in your city, build out, etc. Don’t waste time looking at spaces that have an uncertain move in date if you are in a time crunch. Consider Locations Near EmployeesIf you absolutely have to be in a specific area (e.g. Downtown Austin) then do that, however if you don’t pick an office that is close to the majority of employees. Employees have enough to juggle already (e.g. family, personal, etc.) don’t make their commute times a struggle. Easy to FindIf you have a lot of visitors make sure the office is easy to find. A hard to find office may be a little less expensive however it’s not worth it. Give your visitors a pleasant experience from the beginning. Options to GrowIf you are a growing company it’s important that your office be able to accommodate your current and future needs. Moving sucks. The bigger your company gets the harder it is to move. If a building does not have options to grow into then consider other buildings. Nearby AmenitiesYour employees will appreciate an office that is close to restaurants, dry cleaners, medical offices, etc. They have lives to run to and it’s hard to get things done when there is nothing nearby. Lease Term You Can Live WithIf you are a startup that is in growth mode then only focus on properties that can accommodate a short term lease 1-3 years. You won’t have the leverage to negotiate many concessions however if flexibility is important than it’s worth giving up other concessions. If you are more established than it may make more sense to do a longer lease which will give you more leverage in negotiations for lease concessions (e.g larger tenant improvement allowance). Lease Agreement That Makes SenseMake sure you understand what the landlord is responsible for and what you (tenant) is responsible for. Make sure you know exactly the dollar amount that you must pay each month and what all is included. Don’t just take the landlords word for it. Get is all in writing and ensure that everything is clearly spelled out. Have your attorney review before signing. via Tumblr What Should I Look For When Renting Office Space?
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from Twitter https://twitter.com/AustinTenantAdv via Blogger Roman Reigns thanks for following me on Twitter! https://t.co/HjLPQFb9Yo Renting office space will be one of the largest expenses you have so it’s important that you know what can be negotiated. You can figure it out on your own however that will take a lot of time away from your business, and market conditions change all the time. What was once negotiable 3-5 years ago may not be now. Trying to figure it out on your own is time consuming. It’s best to just hire a commercial agent to help you find the office & negotiate the lease. Someone whose full time job it is to study and learn the market and negotiate multiple office leases every year. Besides their service doesn’t cost you anything. To give you an idea what office lease deal points can be negotiated with landlords we have listed a few below. If you have any questions or would like help renting Austin office space feel free to give us a call. Things That Are Negotiable When Renting Office Space
These are just a few items that can be negotiated in an office lease. The impact that these have will differ based on the type of business and your current and future business needs. It’s important to understand the impact that each one of the negotiable items above will have on your business NOW and in the future. No matter how great your business is now or how great you think it will be in the future you should always assume worst case scenarios when negotiating office leases. If you have any questions about what can be negotiated in an office space lease feel free to give us a call to discuss at 512-861-0525 Related Images:[See image gallery at www.austintenantadvisors.com]via Tumblr What Is Negotiable When Renting Office Space Renting office space will be one of the largest expenses you have so it’s important that you know what can be negotiated. You can figure it out on your own however that will take a lot of time away from your business, and market conditions change all the time. What was once negotiable 3-5 years ago may not be now. Trying to figure it out on your own is time consuming. It’s best to just hire a commercial agent to help you find the office & negotiate the lease. Someone whose full time job it is to study and learn the market and negotiate multiple office leases every year. Besides their service doesn’t cost you anything. To give you an idea what office lease deal points can be negotiated with landlords we have listed a few below. If you have any questions or would like help renting Austin office space feel free to give us a call. Things That Are Negotiable When Renting Office Space
These are just a few items that can be negotiated in an office lease. The impact that these have will differ based on the type of business and your current and future business needs. It’s important to understand the impact that each one of the negotiable items above will have on your business NOW and in the future. No matter how great your business is now or how great you think it will be in the future you should always assume worst case scenarios when negotiating office leases. If you have any questions about what can be negotiated in an office space lease feel free to give us a call to discuss at 512-861-0525 via Blogger What Is Negotiable When Renting Office Space
from Twitter https://twitter.com/AustinTenantAdv via Blogger John Tomblin thanks for following me on Twitter! https://t.co/QRoqDXlunG
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AuthorThe experienced commercial realtors at Austin Tenant Advisors specialize in representing the best interests of buyers and tenants in the Search, Selection, Negotiation, and Occupancy of Office, Retail, Industrial & Warehouse Space for lease, rent, or sale in and around Travis, Williamson, Hays, Bastrop, & Burnet Counties, which are the 5 largest counties in Central Texas. We serve the surrounding cities such as Pflugerville, Round Rock, Georgetown, Leander, Cedar Park, Lakeway, Bee Cave, Sunset Valley, Dripping Springs, Buda, Kyle, San Marcos, Burnet, Marble Falls, and more. Archives
November 2020
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