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Entries Tagged as 'Office Relocation'

Make A Plan For Growth In Your Office Space

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Finding the right office space can be a daunting task, even when you know exactly what you'd like.  You want to be sure you pick the right location because you're entering into a rental agreement.  This can be intimidating for most business owners, and can even cause you to put off making a great deal just because of the number of uncertainties you face.  

Getting the help of a professional, a tenant representative, who knows the right questions to ask is vital to making a good decision for your office space rental.  In fact, an office space professional has probably thought of key factors you haven't thought of.  One of those is making sure you have enough space to grow.

Where do you expect your business to be in two years?  How about in five or ten years?  If you have an accurate idea of where you're going, and how quickly you'll grow, you'll know how to plan for the space you'll need.  At OfficeFinder, we offer you an invaluable service.  You'll work with a Space Planner who is well-trained in this area and can help you predict your rate of growth with accuracy.  You'll have a great idea of the type of property you should be looking for and how much space you'll need to hold your growing business.

Once you find a location for your business, wouldn't it be nice to be able to stay there a while?  Of course, you want your business to prosper, but your space should allow for that, don't you think? We do, and that's part of our commitment to our clients.  We'd love the opportunity to talk to you about the needs for your new or existing business.  Finding office space is what we're great at. We'll make sure you find the perfect location so you can concentrate on what you do best, which is running a growing business.

For more information on Office Finder and how we can go to work for your business, contact us today.

Office Space Planning Checklist

By: James Osgood

Office Leasing Tips , Office Relocation , Tenant Representation

Looking For Office Space? Outsource Your Search!

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One of the most stressful parts of starting your own business is finding the perfect place for your office.  You spend hours searching only to find that one location has what you need, but it's too expensive.  Another location has a great price, but it's missing many of the things you consider necessities to run a professional and efficient business.  If you're looking for office space, it makes sense to hand over your search to a qualified professional who can find you the building or office you need at a price you can afford.

Outsourcing is a trend that's catching on among many businesses all over the country.  It simply makes more sense to outsource many office duties (like website construction and transcription) because you'll end up saving money and being more productive.  The same is true for finding office space.  Your time is precious, and it's better-spent on taking care of the other details that go into running a successful business.  

When you outsource your office space search to OfficeFinder, you'll find a degree of professionalism you weren't expecting.  We have a vast network of experts who know how to find the property you need. They average over 12 years of experience. Using our services will give you the time you need to devote to things like hiring a qualified staff and making sure you have the right office equipment to keep your business strong.  

You're an expert in your field.  You're great at what you do.  Why not let us help you by offering the services of the professionals in our field to help your business find the right space? We are experts inour field! We'll work with you to get you the results you need.  

It will cost you nothing to try out our service and find out how it will work for you.

Contact us today to let us show you how we can help you find the office space you want for your business.

By: James Osgood

Office Leasing Tips , Office Relocation , Office Rental , Office Space , OfficeFinder Members , Tenant Representation

Successful Negotiation Tactics for Your Office Space Lease: part 2

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When you lease commercial office space, the process included negotiating with the property owner to establish what will be contained in your lease.  Having a basic knowledge of the pitfalls to avoid and the opportunities to save money will make the task much less arduous for you.

While landlords are reticent to lower rental rates, stating that the property is valued high and has a high level of prestige and lender requirements must be met, there are other costs embedded in the lease that are open for negotiations. Include a well-qualified tenant representative in all phases of negotiations. In fact, the tenant rep may be the person who located the perfect property for you.

Once you’ve worked your way through the office space location process and located the office space that best fits our needs, your tenant rep will send the landlord a letter of intent. This is a non-binding statement that tells the landlord what space you want to rent and how much you want to pay. While other elements are included in this letter, they are all open to negotiation.  This letter may end up being revised several times after going back and forth with the landlord to reach an acceptable agreement.

Office Lease Term: The length of time you wish to lease the office space can be anywhere from one year to a decade or more. The basic lease probably states a specific office lease term, perhaps five years, but you can required that period be changed to suit your needs. If you are planning to do a lot of improvement to the property, you may want a long lease, whereas if you are a growing company, you may want a much shorter lease to allow you to readily move into larger office spaces if needed in a few years. Be sure the terms regarding lease renewal are also clearly stated.

Beginning Lease Date: Sometimes commercial office space requires major construction or tenant improvements before you move in and begin doing business from that location. Be sure that you don’t have to begin paying rent until you occupy the space.

Rental Incentives: Some commercial office spaces offer rental incentives such as one or more months rent free upon signing a lease of a specific duration. Even if no rental incentives are advertised in the office space listing, you may be able to negotiate some incentive by simply asking the landlord. If the building is completely occupied except the space you are considering leasing, then it is less likely that the landlord will give this concession, but if the building needs occupants, the landlord may be very flexible about offering incentives to establish you business in that location.

Offie Space Tenant Improvements: Another concession sometimes offered by a landlord to new tenants is an allowance to make changes to the office space layout. Your tenant rep will be a big help in negotiating changes to the office space. Perhaps you want interior upgrades, parking lot improvements, or other changes, you want to include these requests in your letter of intent and discuss them at length with the landlord. You may find that the landlord will pay for all improvements in order to get a long term lease established. The landlord might give you an allowance and ask that you bear part of the expense; this makes negotiating this area particularly sensitive because you want to get the improvements at little or no cost to you. If there are no improvements needed, use this fact to help negotiate a period of free rent instead.

Exclusivity Clause: Some types of businesses find it important to avoid having a competing business in the same area as their operation. You may negotiate with the landlord to guarantee that a business of the same type as yours will not be allowed to rent in the same building. If the landlord owns a large area of building near your office, you may even be able to establish that no competing business will be allowed to rent from the landlord in a specific radius. This often applies to businesses that sell specific services or provide retail products.

These are just a few ideas on areas in which negotiations are possible, but there can be a wide range that vary from market to market. Obtaining the services of a qualified Tenant Represenative, as OfficeFinder Members are, will ensure that you can take advantage of all possible negotiation opportunities. Remember, Tenant reps do this every day, while you do it a the most every few years. There is no cost to you to have one represent you. It is already built into the cost of the space whether you take advantage of it or not. Use our short form to request assistance to find a qualified tenant rep you can work with.

By: James Osgood

Office Leasing Tips , Office Relocation , Office Rental , Office Space Negotiations , Tenant Representation

Moving Out of the Home Office: The Pros and Cons

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Working in a home office space can be challenging. As your business grows, you quickly run out of room in the home and will want to move into one of the options for professional office space.

First, let’s consider the pros and cons of choosing to move out of your home office:

Pros:

  • You will have a space in which to work that is quiet and professional in appearance.
  • You can still work any hours your schedule permits.
  • The cost of non-traditional office space is very affordable
  • You can more easily keep your documentation separate from personal work you do at home
  • The cost of an office space may provide certain tax incentives that you can check out with your accountant.
  • You can meet clients in a professional business setting rather than in your home or a coffee shop.
  • There are no worries about children sneaking in to use your computer or other hardware and potentially damaging important business 
  • You may attract clients from those people walking by your office who see your logo or signage.
  • You have increased professionalism and can more easily advertise and brand your business.
  • You will almost certainly have a more organized office space and can choose a larger space if you desire or need it.
  • As your business grows, it will be much easier to add employees to a commercial office space rather than having employees in your own home.
  • You will have more and better parking for clients.
  • There will be no distractions from your work, allowing you to be more productive.
  • You will have better networking ability as you meet new potential clients in the area of your office space.
  • Working at home can be lonely since there are no non-family social contacts. Moving into a commercial office space allows you contact with others, making your outlook more positive overall.

Cons:

  • You do have to commute to your new office space rather than walk into another room in your home, even when the weather is very hot, really cold, rainy or snowy.
  •  It is difficult to share transportation with the other family members when working away from home, so you need your own designated vehicle.
  • You may need to invest in additional computer equipment and other hardware so that you have technology in your office space as well as at home for non-business use.
  • No matter what type of office space you choose, there is some overhead involved, no matter how small
  • Cleaning and upkeep of your space will be your responsibility, whether you do this yourself or hire someone else to do it.
  • You will need to sign a lease or other type of binding agreement to obtain the office space, committing you to have your business reside in the selected office space for a specific time.

It is easy to see that there are many more pros to leasing a traditional or non-traditional commercial office space.  Once you have decided to take the big step and move out of your home office, you will want to seek the assistance of a professional qualified Office Finder Tenant Representative, sometimes called a Tenant Broker. You’ll have an expert on your side to help you locate the perfect office setting at an affordable cost. You will also have a knowledgeable liaison when negotiating the lease or rental agreement for your new office space so that you can get the most benefits with the least hassles. The assistance of an experienced Tenant Rep can save you a great deal of money over the period of your rental agreement by ensuring there are no hidden or unnecessary costs.

In the next segment on moving out of the home office, we will look at the options for office space so that you will know what type of office will best suit your needs at this point in your business growth. 

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By: James Osgood

Home Office , Office Relocation , Office Rental , Office Space

Negotiating the Best Commercial Office Lease: Relocation Clauses

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You’ve found a great commercial office space rental to house your business operations and, with a great tenant representative (like we have at OfficeFinder) and any other needed advisors such as legal and accounting counsel; you are deep into the process of negotiating the best possible office lease for the office space location you want and need. At this point in the negotiation process take care to identify any relocation clause in the office lease and analyze how it could potentially impact your organization’s operation and earning potential.

What exactly is an office space relocation clause? This provision is contained in some, but not all, commercial office space leases, and gives the landlord the right to require the tenant to relocate their office space within the same premises in order to provide space for another tenant’s needs. Upon learning about this clause, you are very likely to say, “How very unfair to me and my firm!” and most tenants would agree. Keep in mind that most provisions in any lease tend to protect and be in favor of the property owner. For this reason, working with an experienced commercial office space tenant representative is important to protect your interests.

In an ideal situation, the landlord will simply agree to completely remove any office relocation clause in the office lease provisions. Some landlords, however, simply will not completely remove this verbiage, and then very clear, legally binding provisions must be negotiated to protect financial losses and periods of inability to effectively conduct business on the part of the tenant. It can be especially difficult when the property owner attempts to insist on keeping the verbiage “at the sole option of the property owner”, allowing the office tenant no right to refuse the request to relocate without terminating the lease at substantial penalty.

A scenario in which the landlord’s flexibility provided by the office tenant relocation clause could be invoked is a building consisting of three floors of 4,000 square feet of useable office space each. The first floor is currently empty and Tenant #1 leases 3,000 square feet of the second floor; the third floor is occupied by Tenant #2, a smaller office requiring only 700 square feet. A new tenant offers to lease 8,000 square feet of commercial space, but only if the office space can consist of the entire first and second floors. Clearly there is space on the third floor for both Tenant #1 and Tenant #2. Due to the much larger rental income from the potential new tenant who desires 8,000 feet of space on two floors, the landlord would find it most advantageous to require Tenant #1 to move to the third floor, sharing that floor with Tenant #2 who will not have to relocate. Of course, Tenant #1 may be very unhappy to uproot and relocate. If the lease were negotiated to avoid financial impacts to Tenant #1, the move might only be an inconvenience instead of a total disaster.

Points to be included in the negotiations for the relocation clause of a commercial office space lease you are considering for your enterprise should include:

  • A reasonable notice period should be defined in the relocation clause to be used as a minimum guideline.
  • The landlord should bear all costs caused by the relocation, including but not limited to finish work, painting, and moving costs.
  • Office space tenant improvements completed in the original space at the cost of the renter should be redone in a comparable and agreed upon manner in the new location at the cost of the property owner.
  • Costs associated with relocating utilities and other services such as network wiring should be borne by the landlord.
  • Expenses incurred due to changing the business address, such as letterhead, business cards and signage, including those visible on the exterior of the building, interior doors and directories, and outdoor signs, should be paid by the landlord invoking the relocation clause.
  • The relocation should not stop the company from doing business in that the space in which the company will move should be completely ready before the date of the relocation.
  • If the space is less desirable for any reason, the tenant should have the right to terminate thie office lease, attempt renegotiation of the rental charges or receive some type of incentive for relocating.
  • There should be no verbiage stating that the landlord has the right to terminate the lease should the tenant not agree to relocate. It could be in your best interest to negotiate verbiage stating that you have the right to terminate without penalty should you choose not to relocate into the space offered.

Clearly, this area of a commercial office lease can be quite tricky to negotiate. Your real estate professional will help you work with the landlord to obtain a relocation clause that both parties can agree to, should such clause be required by the landlord.  

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Office Leasing Tips , Office Relocation , Office Rental , Office Space Negotiations