When you rent an office space, the size and shape are always going to be the first things you're going to scope out to suit your business. What happens, though, when you'd prefer doing some improvements in that rented office space after you move in? Called tenant improvement, you'll need to negotiate with your landlord in order to get the improvements you want. But will you really be able to do that when the cost of tenant improvements have skyrocketed?
Negotiating the Price with Your Landlord
If you're a startup business, paying for the entire improvement of the office is likely out of the question. That's where negotiating with your landlord comes in and whether he or she would be willing to pay at least half of the costs. Whether you get an affirmative answer or not may have to do with the length of your lease. Should you have plans to stay at least two years or more on your lease agreement, the landlord might agree to pay 50%. Otherwise, if the landlord thinks you'll be out of there within a year, the cost wouldn't be much of an investment.
Keeping the Tenant Improvement to What You Really Need
There's such a thing as asking too much out of your tenant improvements and expanding to the point where it's extraneous. Your landlord may balk at paying half for something that isn't absolutely necessary. As well, your own budget could suffer if you add things that won't be needed for the type of business you have. Even so, have a lawyer read over your lease so you know all your rights are covered.
The Exploding Costs of Tenant Improvement
We wrote on the matter of TI costs skyrocketing a while ago. Many people think costs should be lower. Inflation, however, has made construction prices rise due to the higher cost of materials. This plus rising minimum wages for the workers might make tenant improvement out of the question unless you're lucky enough to find a budget construction company.
Regardless, you also don't want inferior construction work done.
In today's economy, it's best to approach any office improvements judiciously and mainly look for an office space that can already accommodate your needs. And there's no better place to do that than OfficeFinder. We'll help you find an office to rent or purchase without the usual hassles.
Contact us so we can get you started finding an already improved office without any hassles.
By: James OsgoodLease Negotiations , Office Leasing Tips , Office Rental , Office Space