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Entries Tagged as 'Office Rental'

Getting A Great Deal On Your Office Space For Rent

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If your business is new or growing, you need to save money everywhere you can. There are many expenses associated with starting or growing a business and they're not all planned expenses. Wouldn't it be nice to have an even bigger cushion of funds than you planned on originally?  That's entirely possible when you work with a professional to find your office space for rent.

One of the biggest mistakes business owners make is in choosing the first location for their business.  Maybe it's because they're so excited and eager to get things up and running that they don't take the time to choose carefully.  Or, perhaps it's just lack of experience that results in a need to upgrade to a new property sooner than they thought they would.  For many, however, it's not knowing what the rental market is like for businesses like theirs.  That's why working with a professional office tenant representative is really importnant.

If you're not familiar with the office rental market in your area, it's easy to pay too much for a space that's nowhere near big enough for you. There are also tons of other costly mistakes you can make.  Even though paying too much is a common mistake, that doesn't mean it has to be one that you make.  When you work with OfficeFinder, you'll find our professional services to be second to none in our industry.  We've helped countless, businesses just like yours, find the perfect property that's the right size and the right price.  

If there's one thing we've learned in this business, it's that it's important to have someone you trust on your side.  You need to have an advocate working for you, who has your best interests at heart.  That is what a tenent representative does for you and all at no cost to you.

We'd love to talk to you about your business.  Where do you see yourself in a year?  How about five years?  Why not contact us today, and find out how we could help you find a great deal on the perfect location?

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By: James Osgood

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

5 Tips to Choose the Right Office Space

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Choosing the right office space, whether for rent or purchase, for your business will have a big impact on how well your business runs. The Better Business Bureau has made 5 specific recommendations to help business owners choose a space that is right for them.

Determine Your Needs

This may sound obvious, but any business owner needs to think about the entire opperation, not just the front office. Look at the space in terms of how your customers will see it and how your employees will use it.

  • Will you grow over the course of the lease? 
  • Will you need conference rooms, lunch rooms or break rooms?
  • Do you need a reception area?
  • What about storage?
  • Will you have office machines such as large copiers that need space?
  • Where will staff sit?

In general provide at least 175 square feet for each employee. Offices will be larger than this so determine who gets offices and who doesn't.

Location, Location Location

This is a very old adage that the most important aspect of an office is it's location. This is particularly true if the business requires foot traffic. Think about who your customers are and narrow down the choices.

  • Will they need parking?
  • Will they use public transportation?
  • How hard is the office to find?
  • Is there a lot of traffic in the area?
  • Will there be construction on the roads in the area in the first year?
  • Is the neighborhood safe?

It is vital to understand how easy it will be for prospects and customers to get to your business. If it is too hard they may decide to do business elswhere.

Assess The Building

It is important to look at the building as a whole. Many commercial buildings will advertise upgrades, but won't talk about repairs.

  • Ask about what changes may need to be made to the office space itself.
  • Are you allowed to put up walls for new offices as needed?
  • Have there been any recent problems with storm damge or vandalism?
  • Are there any upgrades or renovations planned during the lease?

Noise from renovations can disturb employees and customers so it is important to understand what will happen and when.

Get Professional Help

Utilizing a real estate professional who specializes in office space, an office tenant representative, will reduce the amount of work substantially. A professional will be familiar with a variety of styles of office space around the area. When know what you are looking for and can communicate these needs clearly they will be able to show you properties that meet your needs.

Review The Lease

The final step is to review the lease very carefully before signing anything. Make sure you understand what you are responsible for and what the landlord is responsible for. It is a good idea to have a lawyer review the document.

Following these 5 suggestions will help ensure the office space chosen is right for the business. For more information on choosing the right office space for you contact us.

Office Space Planning Checklist

Offlce Leasing Process

By: James Osgood

 

Office Leasing Tips , Office Relocation , Office Rental , Office Space , Office Space Design

New NAR Office Space Sector Report Optimistic

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According to the most recent quarterly report prepared by NAR:
"Major commercial real estate sectors continue to improve, albeit slowly, with gradual economic improvement and job creation driving absorption of space, according to the National Association of Realtors® quarterly commercial real estate forecast."

Key Points regarding the Office Space Sector:

National office space vacancy is expected to drop .4 percentage point during 2013.

Office rental rates are expected to increase by 2.6 percent in 2013 and 2.8 percent in 2014. That follows a 2 percent gain in 2012.
That is about $.50 / sf / yr based upon the current national average of $17.50 / sf.

Source

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By: James Osgood

Office Rental , Office Space Negotiations , Office Vacancy Rate

Office Rentals Lead To Success

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Working from home, or telecommuting, is growing in popularity. But having an actual office, or at a minimum a virtual office, is a path that can lead to greater success.

After all, is there a better place to meet clients? It is simply not professional, at least for most businesses, to have clients meet in the living room. And while coffee shops or similar places may be nice, they just don't match the professionalism of an office.

That means you just might need to consider an office rental.

  • An office offers a professional atmosphere, enabling workers to be extremely productive. At home, it is really hard to be productive or to make those sales calls when a child in the background is throwing a temper tantrum. And the office presents another benefit -- it allows your home to be your refuge.
  • Most people work better when they dress for success. It is much easier to dress professionally when going to the office, and too easy to dress "comfortably" when working out of the house.
  • It is a lot easier to walk down the hall and speak to a co-worker, than to call them up or send an email and wait for their reply. So an office can speed up the flow of information you need to be effective. 
  • Co-workers or office-sharers can keep you from the social isolation felt by so many at-home workers.

Fortunately, there are office options availble for almost every kind of need. If you need office space, please contact us.

By: James Osgood

 

Home Office , Office Rental , Office Space , Virtual Office Space

The Tenant Improvement Workletter: Keys to a Successful Office Space Build Out

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When leasing commercial office space to house your organization, it is rare to find a space that is exactly perfect for your needs. Often alterations, called office tenant improvements, need to be made to the facility. This requires negotiation between you, your office tenant representative you selected to help you get the best possible lease, and the landlord.

It is important that tenant improvements never be agreed upon using a handshake arrangement. The improvements involve costs and legalities, therefore a tenant improvement workletter is developed defining the agreement. The workletter is a legal document created for your protection and some very important concerns should be precisely covered in the agreement.

Questions and Issues Important for Inclusion in the Workletter

·         Is the landlord or the tenant responsible for doing the work to the office space?

·         Which party chooses the contractor and space planner and how exactly will these parties be selected?

·         Who pays for what expenses involved in altering the commercial office space being leased?

·         Is the space involved in the alternations usable or rentable square footage and how many square feet are involved?

·         What relationship does the rent commencement date have to the tenant improvements and construction?

·         What if there are delays caused by the tenant? What if delays are caused by the landlord?

Types of Workletters

Turn-Key: This type of workletter is established before lease signing and the landlord agrees to pay the improvement costs per approved plans. Usually the improvements are completed before the tenant occupies the office space.

Landlord Workletter: In this situation the renter is given an allowance by the landlord to make changes. If there are costs overruns, the tenant is responsible. Typically the lease is signed before this type of workletter is put into effect. The landlord maintains some control over the improvements ensuring they meet approved plans.

Tenant Workletter: This type of workletter may or may not provide an allowance from the landlord. Basically the tenant controls the improvements and accepts the cost risk. If an allowance is negotiated, the tenant is responsible for all costs over the allowance.

Selecting the Best Workletter for Your Office Space

It is important to go over the benefits and risks of each type of workletter with your Office Finder tenant rep before determining which types of workletter is best for your specific situation. It all depends on the work you need, how you want to manage the work, and what terms the landlord will agree to. Your office tenant rep will help you negotiate the best possible deal for your tenant improvement workletter as well as your office space lease. 

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By: James Osgood

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