Category Archives: Office Rental

How Landlords Keep Office Building Garages Clean

Office Building GarageEver wonder what Landlords need to do to keep office building garages clean? Your office building parking garage is a potential breeding ground for bacteria, mold, and fungus. These contaminants will not only affect your employees’ health but also their productivity! Landlords  take steps to clean the garage, but what do they do? We’ll share some best practices in this article.

Pressure Washers

A pressure washer is a great way to clean the garage. It will remove all of the dirt, dust, and debris from the surface. There are 4 kinds of gun pressure washers that are the most common. They include electric, gas-powered, cold water, and hot water pressure washers.

The best one to use for cleaning those hard-to-get spots in a garage is the electric pressure washer. It is more affordable than the other types of pressure washers and it is easy to use. You just need to plug it into an outlet and you are ready to go. The electric pressure washer produces a high level of pressurized water that will quickly clean the surface.

There are also truck mounted pressure washing systems that are eco friendly. Some even bring in their own water and vacuum up 98% of it at the end of cleaning, to be recycled for future use. Of course, a gun pressure washer will still be needed for the hard-to-get places that a truck can’t get to.

Grime Seals

Grime seal is a great product for cleaning the garage floor. It will make it look new again and protect against further staining or damage to the surface. This type of floor coating can be applied both indoors and outside. You just have to apply one coat with a roller, allow time for drying, then apply another coat in the opposite direction with a brush. The grime seals are available in several different colors so you can choose what color looks best on your garage floor depending on whether it is near an entrance or not.

Floor Coating

Floor coating is another product that will protect the garage floor against damage. It is made of a petroleum-based material which means it has great adhesive power to adhere to concrete surfaces. Floor coatings are available in several different colors, textures, and finishes so you can choose what works best for your needs depending on whether there is an entrance or not. This type of coating also does not peel up like regular paint when exposed to weather conditions over time because it adheres very well between layers.

Garage Door Cleaning

The garage door is often one of the dirtiest parts of the garage. It can get dirty from all of the dust and debris that accumulates on it over time. To clean it, you will need a ladder, bucket, hose, and soft-bristled brush. The best way to clean it is to start at the top and work your way down. Be sure to rinse off the brush frequently so that the dirt does not accumulate on it. This will make it difficult to clean later on.

Floor Mats

Floor mats are great for keeping the garage clean. They will trap all of the dirt and debris that falls to the ground as cars come in and out of it through the garage door. The best way to use floor mats is at each entrance into the garage so that people can wipe their feet before entering. This will keep any excess dirt or pollutants outside, where they cannot damage your floors indoors. It also creates a barrier between dirty shoes coming inside versus just having them touch regular flooring surfaces directly without anything to protect them first.

Brush and Dust Mop

A brush and dust mop is a great way to clean the garage floor after pressure washing it. You can use them together or separately depending on what works best for your needs. If there are areas that need more attention than others, you may just want to focus on those with the dust mop first before moving on to other surfaces. The bristles of the brush will get into any grooves in between tiles so that all loose debris is removed from them too. Then when you switch over to using a dry dust mop, this will pick up anything left behind like dirt particles and small rocks in crevices where they could scratch certain spots if not properly cleaned out beforehand.

A clean office building parking garage will not only will keep employees happy and healthy, but also impact the impression clients have when they come to visit. When you are negotiating a lease, make sure and inquire about the garage cleaning schedule.

If you are looking for an office building to lease office space, we can help with our network of 1,000 local reps. Just let us know and we will put you in touch. No obligation and no cost.

How To Perform A Comparative Lease Analysis

lease agreementPicture this: your office space is currently located in an area with a poor business environment, so you want to rent a new office space to enable you to run business operations efficiently and effectively.

You engage a tenant rep to look out for your needs. A few days later, they return and show a list of spaces based on your requirements. They also provide a comparison of the properties on the list, advising on which is a better match for you based on cost-effectiveness and your needs.

What the tenant rep will provide you is both lease analysis and comparative lease analysis. First, they carry out a lease analysis to come up with options that match your needs. Then, they compare these options to tell you which is more cost-effective.

What Is Comparative Lease Analysis?

Comparative lease analysis is comparing two or more lease options to see which has better advantage in terms of cost.

Imagine this: two friends, Mr. A and Mr. B, rent office spaces for themselves at different rates. Mr. A’s is priced at $150,000 a year, while Mr. B’s is at $180,000 per year. Two years later, Mr. A has already spent $450,000, while Mr. B, $410,000. On the surface, Mr. A’s rent is cheaper. But, here’s the catch: he pays for maintenance and repair, as well as all outside structures of his rental space. On the other hand, Mr. B’s landlord handles everything concerning maintenance and repair, and doesn’t require his tenant to pay for any structure while occupying the property.

You can see that if Mr. A had carried out a comparative cost and lease analysis, he would’ve made a more informed rental decision and wouldn’t have spent as much as he does. This type of scenario is why lease analysis is essential.

It’s much more efficient to semi-automate the calculation when you have a number of options to consider, which you can do in Excel by learning more advanced formulas in a training course like Acuity Training.

Factors of a Comparative Lease Analysis

While the overall cost of occupying a property is the major reason a comparative lease analysis is carried out, other factors could also influence the price of leased properties. A few of these factors include:

  • Luxury Level

How luxurious the property is will play out in determining its price. So, carrying out a comparative lease analysis, you can’t compare a property that has gold fittings with another that has gold-coated fittings. Their classes are different.

  • Location

It’d be wrong to compare higher quality properties areas with lower-class ones. Yes, they may have the same layout, the same size, and the same level of luxury, but the perceived value of the location will always be the main determining factor as to the price of the property. So, consider the location when analyzing a lease for office space.

  • Age

A brand-new property can’t be the same as another property that’s 23 years old in the same location. The newer property will turn out to be more expensive than the older one. Therefore, the duration of a property is another influencing factor for lease analysis.

  • Income Generation Capacity

If you’re looking for a property for business purposes, you’d have to know how viable the location is for your kind of business. Understanding how much your lease will generate in positive net income is a must.

Steps And Approaches When Performing Lease Analysis

While a comparative lease analysis compares two or more lease options, a lease analysis is the individual analysis of properties—it’s the step taken before comparative analysis.

A lease analysis is a process of using several tools and procedures to gather and organize economic and financial data that educate you on what type of lease would be of more advantage for you (the lessee) and acceptable to the lessor (renter or the party that receives payment from you).

Here’s are a few of the items to consider in a lease analysis:

  • Look Out For Basic Details

Details like the physical address, the renter’s name, and contact information can be used to perform lease analysis. The state and date the lease was signed, the date indicating the beginning and end of your stay for that particular lease fee, options for lease renewal, and policies that guide rent increments can also help when you’re comparing lease options.

  • Be Sure Of The Extra Fees

Knowing what you have to pay for aside from the rental fee can serve as a tool for lease analysis. Fees like upfront security deposits or parking fees should be clearly understood. As should any cost pass-throughs. You don’t want to be in a situation where fees you didn’t care about will be demanded of you and eventually cause unnecessary hitches between you and the landlord of the property.

  • Repairs And Maintenance

In the long run, you may end up spending a lot on repairs and maintenance. So, be familiar with the requirements when comparing lease options. The lease will tell you aspects of the repair and maintenance the Landlord will handle. If the proposition isn’t fair enough for you, consider other lease options.

  • Look Out For The House Rules

Make sureto read the rules and regualtions in the lease agreements. Some office space rules can be far-reaching, outlandish, and even discriminatory. Some of these rules could be maximum occupancy, parking and storage, property alterations, quiet hours, and insurance requirements, among others. Understanding these rules will keep you out of unwanted troubles and help you analyze your lease options.

  • Quit Notice

The lease should explain the grounds on which you can be served a quit notice, as well as the duration of the notice. Otherwise, analyze your lease budget and consider other lease options.

  • Involve An Attorney

Sometimes, the letter A doesn’t mean the letter A, and you may be misled by the landlord to believe otherwise as stated in the lease. That being so, get an attorney to read through the lease document and explain everything to you. You should understand the legal implications of the lease you’re signing.

Conclusion

Both lease analysis and comparative lease analysis are crucial steps in the process of renting an office space and improving productivity. We have mentioned a few items here, but a professional tenant rep can help with a fuller list of items to consider. A tenant rep will not cost you anything. They will save money and ensure you avoid costly mistakes. As in residential real estate, they will represent you, but be compensated by sharing a commission with the Landlord’s’ agent or be paid directly by the Landlord. Contact us today if we can help you find a great tenant rep.

4 Questions To Ask Before Signing An Office Space Lease

If you’re operating a business and planning to have a physical location, an office space lease will be one of the things that will put a dent in your overall budget. In fact, committing to any office space for your business presents more complexities than simply renting a house. For one, most leases will oblige you to rent the space for three to five years, which can be intimidating. It is always best to take advantage of the services of a qualified tenant representative, like the ones we have at OfficeFinder.

There are a number of important factors to consider before signing an office space lease, including not only the location but also having an understanding the intricacies of the contract. It would also be best if you’re equipped with the right questions before signing a deal with the landlord. Once again, here is where the services of a good tenant rep will be beneficial.

To help you out, here are 4 questions you need to ask a potential landlord before signing a commercial lease agreement: 

1. Is the lease assignable?

If you’re not sure if your business can still operate within the years stipulated in the lease agreement, it’s essential to ask your potential landlord if they have the right to terminate your lease in case of an assignment. A lease assignment is when you have someone take over the office space in the case that you want to sell your business. 

Assigning a lease is important for the tenant since it’s a way for them to get out of the lease agreement. Hence, a tenant won’t technically violate the lease agreement. Keep in mind that a landlord also has the right to approve and renegotiate new terms with the assignee. The landlord may also decline any assignee if they find them financially incapable. A key clause to include in the lease is that the Landlord will not unreasonably grant approval.

By knowing if the lease is assignable, you’ll rest assured that there’s a way to get out of the lease agreement if ever your business fails to grow without burning a hole in your pocket. 

 2. Do you have any policies for moving in or out?

Inversely, if your analytics are showing promise for your business for years to come, then time is of the essence––you want to establish a physical location immediately. In this case, ask the landlord about the policies for moving in. How soon can you move in? Is there any free rent available? What are the payment options? 

Additionally, you may also want to know the moving-out process. For one, you don’t want to break the agreements contained in a lease agreement as it comes with grave consequences. To paint a picture, here are some common penalties you may face if you break a lease agreement: 

Pay large fees: Technically, landlords are running a business. As with every business owner, they don’t want to give up any financial opportunity. By breaking a lease, you may ruin the landlord’s flow of income, which is why breaking a lease comes with a fine. Sometimes, the fine may be around one or two months’ worth of rent.

Face legal consequences: If your landlord is litigious and you want to break the lease agreement, then there’s a huge chance that you may end up with a lawsuit. However, a lease termination has a rare chance of going into court, as it can be quickly settled by paying a fee, but it’s still a possibility.

Hurt your credit score: Credit scores are the ones that’ll determine your creditworthiness, which means that lenders will use this score to gauge if you’re financially capable of paying any debts. If you terminate a lease before the contract, then your landlord may send your debt to a collection agency, ruining your creditworthiness.

 3. Can alterations be made? 

Since businesses operate differently, you may want to make a few changes to the space so you can make the perfect working environment for your workers. But since you’re leasing the space, you’ll need permission to change something, even the carpet and paint color, which is especially true for a shorter-term lease. Hence, ask your landlord if they’ll accept any alteration to the office space.

 4. What’s included in the rate? 

The rental rate may not just be the payment of the space. In fact, some building owners may have some inclusions in the rental rate like taxes, insurance, utility and cleaning costs, know as a  fully service lease. Still, some landlords may require you to pay for those services yourself, know a a NNN lease. And others a combination of the two.

Moreover, if the space comes with an HVAC, ask whether the rate already includes any possible repairs and replacement, or will you be the one covering the cost for those. Knowing what’s included in the rental rate will allow you to set aside some money for any possible repairs. Additionally, you’ll be able to set aside a monthly budget for any recurring fees, like electricity and water. 

Also, find out if there are annual cost pass-throughs of amounts over a base year. These are usually in fully serviced leases where the Landlord pays the base year expenses of the leased office space and tenantss pay a pro-rata share of increases over the base year.

Final words

Before committing to any office space, you must ask the questions above and learn some tips and tricks to negotiating as any mistakes may end up costing you. For instance, if you expect that you can simply change the space but the owner didn’t agree to this, you may end up returning the office space to its original condition, which is surely an expensive endeavor on your part. 

So make sure that you’ve meticulously understood the agreement as well as any upfront costs before signing a commercial lease agreement.

And, if you’d like some free assistance, make sure and take advantage of the services of a good tenant representative. We can help with that. Contact us today for a no-obligation discussion on how we can help.

4 Professionals You Need on Your Side When Leasing Office Space

Leasing Office SpaceLeasing office space requires a lot of work. It is not easy. There are many things that need to be considered before choosing the best location for your business. Most businesses lease their space and need to deal with a commercial lease. While it is essential to select the best location that will benefit you and your business in the long term, there is a lot more to do than just finding the right space. A good location is an advantage especially in creating a sophisticated brand image for your business. Your business also needs to have a place where both employees and clients are happy.

The process of acquiring an office space can be lengthy. You need to make sure to allow enough time to complete the process. Understanding the leasing process and timing and who are the people that can help you with it is very important for a timely completion to the process. You need to make sure to get the lease agreement negotiated properly to make sure you don’t have unintended consequences pop up in the future. With the right team, you can get a great space at a fair price, with terms that meet your needs and no future suprises. Here is a list of the professionals who can help you when leasing office space.

1. Commercial Real Estate Broker

Yes, we are commercial real estate brokers who specialize in tenant representation. Yes, we are biased by decades of experience. The basics: Commercial real estate is a property that is purposely used only for business or investment purposes. These properties are generally owned by investors who collect the rent from operating businesses in the property. Commercial real estate brokers are people or the middleman between sellers and buyers. They help their clients with selling, leasing, or purchasing commercial real estate.

Not all commercial real estate brokers do the same thing. A commercial real estate tenent rep broker can work independently, unlike commercial real estate listing agents. A tenant rep works solely for you. The listing agent works solely for the landlord. But how can a tenant rep help you with the office space lease? Aside from the fact that they can help you save time, money, and effort, they can also provide numerous advantages. One of the most significant advantages of having a commercial real estate broker is their knowledge of the market, the players and the ability to analyze lease terms.

Acquiring an office space without the help of a tenant rep is like going into court without an attorney. Something you don’t want to do. In addition, not only do tenant reps work soley for the tenant, the tenant does not have to pay them directly. In most cases their fee is paid by the landlord’s listing agent. The commission is already built into the price of the space. If you don’t take advantage of using a tenant rep, the listing agent will not only take advantage of your inexperience, but also pocket the entire fee.

2. Accountant

Accounting is a crucial part of any business. One must understand the role of an accountant when leasing an office space. Commercial accountants, specifically, are people who are responsible for the efficient running of the commercial elements of an organization’s finances. They help companies with budget analysis, audit reporting, portfolios, and other accounting related to the business. These people can help you understand further how commercial real estate works and what you can do to maximize your profits.

It is crucial that you understand the tax issues, budgets, and planning in your business. That is what accountants can help with especially when choosing the best office space for your business. Most significantly, accountants provide you the information you need in the contract negotiation process to avoid making financial errors.

3. Attorney

Commercial lease review is one of the most nerve-wracking parts of the office leasing process. Even with multiple experiences in a commercial lease, specifications still change depending on the landlord. Every landlord has different lease. Furthermore, complicated terms are also on the line especially in commercial leases. While a tenant rep can review a lease and make business recommendations, getting help from an attorney to review the legal aspects of a commercial lease is important to make sure your rights are protected.

An experienced real estate attorney can easily navigate and review a commercial lease’s legal and financial specifications. They can make the details easier for you to understand. any legal issues about the lease.

4. Architect

Whatever location you choose, an architect / space planner is someone who can help define how to best use the space. Not only can they prepare a space plan, but they can help you identify other factors that can affect the project budget, project schedule, and the general feasibility of the location.

Contacting an architect early in the process is a good idea. Even before you have chosen a location. they can be your guide and added protection in the decision-making process. An architect knows about any construction codes and zoning regulations your business must comply with. An architect partnered with a designer will also help you with modification or renovations on the office if needed.

Other Office Leasing Considerations

In addition to the help you get from professionals, there are still many things you need to consider. These considerations are significant for your business and your employees in deciding on a final location. A list of other factors you should consider when choosing a new office space include:

  • Location and accessibility
  • Price
  • Growth constraints
  • Technology and infrastructure
  • Layout and design
  • Contingency plan

Leasing office space will always be a challenging thing to do. Obtaining enough knowledge, guidance, and understanding will help smooth the way. That is where we come in. Did I mention that what we do is help businesses acquire office space? We have been doing it since 1995 and have developed the finest online network of local tenant reps. We have over 600 of them throughout the US and Canada. If you are looking to make a move, we’d love to talk with you. No obligation to contact us. Hope you do.

4 Ways To Create A More Productive Work Space

After hiring a couple of employees and renting an office, it seems that you’ve done your part, but that’s not entirely true. Although you’ve done what’s necessary, it doesn’t hurt to go the extra mile by helping your employees settle in on their jobs and create a productive work space. After all, once they adapt to the business, their productivity will soar.

More productivity means more work done, and more work done means more money for the company. 

The best part is that you don’t necessarily have to guide them each step of the way. Creating favorable working conditions would be more than enough to help them become more comfortable, and that’s what this guide is all about. Below are four ways to breed productive employees through improving their workspace: 

1. Incorporate Natural Sceneries

You may have heard from somewhere or someone before that greeneries and natural light can improve your mood, and yes, it’s true. Humans have a desire to connect to nature, which is why a study has found that even just a minute with nature can lead to a feeling of relaxation, which may increase productivity. 

While it’s true that nature itself can lead to relaxation, there are other ways to make the workspace much closer to nature, and that’s by getting air filters that eliminate pollution. Of course, you can buy some plants and place them in your employees’ desks, but if you find a custom filter that pretty much does the job, there’s no need to bother with buying greeneries.

2. Provide Proper Equipment 

Surely it must be evident that one of the best ways to improve productivity is by providing the proper equipment. Employees may feel disheartened knowing that the business they’re working for cannot provide them with the necessary tools for the job, resulting in less productivity. 

The pieces of equipment you’ll need to prepare to differ according to what business you run. For most office jobs, employees must have their own desks and gadgets such as computers or laptops. Other than working equipment, you also have to consider buying equipment that brings comfort such as ergonomic chairs. 

3. Mind the Temperature 

Electrolytes, a compound that serves as energy for the body, deplete much faster in hot conditions. On the other hand, excessive coldness can lead to discomfort and even vulnerability to diseases. In other words, the temperature must be perfect. You can either use air conditioners during hot climates or heaters during the cold weather. 

4. Introduce Colors to the Office 

Is there a feeling of relaxation when you see the color blue all around you? Do you feel a sense of excitement when you’re surrounded by red walls? That’s probably because colors can affect a person’s mood, just like nature. 

For that reason, it’s a good idea to paint your office walls with a color that improves productivity, but which color? You may have already guessed it, but red is an excellent color since it keeps the heart pumping, which might be necessary to employees if they somehow feel bored during work hours. Blue is also a great alternative as it exudes a calming atmosphere, which can help your employees focus on their tasks.

Wrapping Up 

No matter how high the pay is or how nice you are to your employees, you can’t guarantee that they’ll become much more productive. What they need is a good productive work place, one that suits their needs and provides them with comfort. While it’s not an easy task, this guide should make it less complicated. However, remember that great things aren’t free, so don’t be afraid to invest in your business and your workforce. 

Certified OfficeFinder SpecialistAnd if you are looking for office space wher you can creat a productive work space, we can help with our network of local tenant reps. Contact us today to find out more. Our services are free to you! No obligation either.

6 Things To Qualify You to Lease Office Space

6 Things To Qualify You For Renting Out Office SpaceFor some, it would seem that property owners lease office space to just anyone. Not so.  Even if the office space has been vacant for more than a year, most landlords follow a qualification system.  

Ordinarily, this process involves assessing credit statements, background verifications, tax returns, or examining references. Even so, your financial reports aren’t the only valuable documents property owners go over before deciding to lease your office space. How landlords perceive you is also critical. 

In case a property owner feels you’re an unstable tenant, you’ll most likely lose the contract. So, to gear you up on your next meeting with a landlord, here are six things that a 2020 case study by Uxbridge business park found that you may need to do to qualify for renting an office space. 

1. Furnish a Solid Business Plan

Do you have a brand-new company? Furnishing a solid business plan to the property owner is fundamental to demonstrating your business knowledge to the landlord. You can also give a background on the company budget, expected sales, competition, etc.  

It is better to include details such as when you forecast your company to be productive and break even. As a future tenant, your target is for the property owner to believe in your company the same way they will trust your tenancy.   

2. Submit Thoroughly Completed Form

In case the landlord provides you the lease application form, submit it after filling out all the data completely. It may sound straightforward, but often some company owners neglect to complete it. If you want to avoid leaving a wrong impression, submit a thoroughly completed  form to guarantee your application is on top of the file.  

3. Enlist a Credible Tenant Advisor

Enlisting the services of a reputable tenant representative (like the ones we have at OfficeFinder) and/or a lawyer can prove to property owners you’re serious about renting an office space. Having professional representatives to help you deal with landlords will ensure you’ll be able to talk about every crucial detail in your contract and avoid costly mistakes.

What’s more, they can help you shorten the negotiations with the property owner and avoid lengthy proceedings. Also, tenant advisors are familiar with the real estate market since they do this day in and day out.

4. Provide Statements of Assets & Liabilities

For property owners to see your company as a qualified tenant, provide your bank statement showing your assets and liabilities. This statement will show the landlord if your company has adequate assets or cash to pay off your lease after factoring in your debts. 

Furthermore, property owners want to see if your assets and cash can cover your entire lease in case of a business failure. Handing over an impressive statement of assets and liabilities will ensure your deal will end positively.  

5. Display Stable Credit History

It’s common for companies to experience late payments on loans or credit card statements. In case this happens to you, this is the time to change and clean your habits. For property owners see you as a steady tenant, you need to demonstrate you’re financially stable. And as proof, this will require exhibiting strong credit and financials.  

If you’re planning to apply for any loans, begin with the application already so you can show sufficient cash flow to cover your lease. You can also provide these other standard requirements: balance sheets, tax returns, cash flow documents, and other notices from your bank indicating your financials.

6. Be Ready to Relocate Soon

Finally, if the space you’re eyeing is in a popular and hot office location, see to it you can relocate immediately. Most often, landlords lease prominent locations fast. In case you chance upon an area you feel is right for you, focus on securing the place to prevent another company from renting it.    

When there are one or more groups wanting to secure a specific office space, landlords typically favour the able, ready, and eager to move party quickly. Remember, property owners avoid wasting time on clients who are not aware of their requirements.  It’s best to know your office space needs, electrical requirements, and zoning needs so you’ll have an idea if the location is a good fit for your company.  

Final Thoughts

As an entrepreneur, one of the significant decisions you have to make is whether to purchase a property or rent an office space for your business. If you’re starting your firm and working on a limited budget, it might be in your best financial interest to lease office space.  

Please note that it’s essential for potential clients to know you have an office they can physically visit. Showing customers you possess an office space is a huge step in establishing your company. Moreover, demonstrating to property owners, you’re ready to rent will help you get that office space faster.  

If you need help finding office space to lease, whether conventional or flexible space, we can help. Contact us today for a no-obligation discussion on how one of our tenant representatives can help.

5 Tips For When Negotiating for an Office Space Rental

5 Tips For When Negotiating an office space rentalOffice Space Rental is one of the significant expenditures of a rising company. It makes sense then that negotiating for an acceptable lease is a challenging yet necessary process one has to take. Take note that there are several approaches you can adopt to obtain the best deal without undermining your finances or slowing down your business.  

Regardless if you hired a tenant broker, do your research on the space you want to rent. Are there other companies eyeing the property? How long has the place been empty? These are aspects that can significantly impact your negotiation process. 

And since there’s no such thing as a standard lease, you will find below five tips when negotiating the office space rental you want.  

1. Settle Length of Lease Period (Term)

Property owners or landlords are usually amenable to grant long-term leases. In a way, this condition can be beneficial; however, it’s normal for the company to adjust. When this change happens, you’ll find yourself stuck in a lease with either a sizeable or small space for your business.  

As a tenant, aim to negotiate a short-term contract with extension options. For instance, seek a two-year deal with a two-year extension option instead of a four-year agreement.  

2. Manage Rent Hikes

When it comes to office spaces, it’s unusual to find fixed rent with long-term contracts. Typically, property owners expect yearly increases based on rate hikes found in the Consumer Price Index (CPI). 

If the landlord requires rent hikes, see if you can arrange for a fixed CPI rent increase. For example, your monthly rent is $7,000 a month. Your second year will increase to $7,200 per month, then $7,400 a month on your third year.  

3. Explore Hiring a Tenant Broker

Yes, it’s common to come across stubborn landlords with unreasonable requests. If you’re in this tight situation, you may want to look for alternative office space to rent.  

A credible tenant broker, aka tenant representative, can help your company search for available spaces or industrial developments like the Gloucester business park. These professionals can give you a background and help you understand the dynamics of the market. Moreover, they can help you discover office spaces that satisfy your standards, set up viewings, and go with you to see these properties.  

Tenant brokers likewise help their clients draft offer letters and deal with property owners so you can obtain a sensible lease for your company. 

4. Discuss Office Space Improvements and Repairs

Meanwhile, please note that some contracts will include clauses that state tenants must reinstate premises to their primary condition. 

See if you can modify the provision to say that you will return the office space in the same state at the start of your contract as a tenant. This condition excludes devastation by fire that isn’t the responsibility of the tenant and usual wear and tear.  

Furthermore, if the property requires upgrading or enhancements, who is responsible for these repairs? Suppose you want fresh carpets, new paint colours, or re-arrange the layout of the office area. Take note that many leases state that tenants can only modify the property with the property owner’s consent.  

Request for a provision that allows you to render alterations with the landlord’s permission and that consent will not be unduly conditioned, hampered, or delayed.   

5. Be on the Lookout with These Provisions

Lastly, be on the lookout for these one-sided clauses that strongly favours property owners:

  • The property owner restricts potential assignment or subletting 
  • The property owner expects the tenant to settle tax escalations stemming from the property sale 
  • The property owner has the right to rescind the contract at the landlord’s convenience 
  • The property owner rents the space ‘as is’ to waive compliance with the Americans with Disabilities Act or any environmental laws.   
  • The property owner demands a personal guarantee of the principal shareholders of the business 
  • The property owner transfers to the tenant additional operating expenses such as repairs, insurance fees, and building taxes.

Final Thoughts

Keep in mind when negotiating an office space rental, it’s best you carry a definite understanding of what you’re willing to consider and what you can propose. It is also best to have a tenant representative working on your behalf. Always document everything in writing when clarifying lease details that you don’t understand. While this will make the process longer, it will provide you legal protection in cases some of your negotiated terms get excluded in your contract. 

It’s essential to study your lease carefully. The contract can possibly contain numerous details you’ll not understand. When faced with this kind of scenario, highlight each unclear point, and discuss it with your tenant broker or the property owner.  

Certified OfficeFinder SpecialistOur tenant representatives at OfficeFinder do this day in and day out for their clients. Contact us so we can connect you with one in your area. There is no cost for their services and no obligation to request info.

 

What To Know When Renting Office Space Following The Pandemic

What To Know When Renting Office Space Following The PandemicMaking decisions about renting office space is more challenging because of the impact of coronavirus or COVID-19 pandemic. Many people are asking how the current health situation affects office leasing and businesses at large. Is work-from-home the latest trend? Or will the new normal open more opportunities for commercial property owners? 

In this article, you’ll learn the essential things about renting office space following the pandemic.  

Health And Safety Protocols Compliance 

In the ‘new normal,’ property owners are mandated by governments to comply with all health and safety protocols set in place to protect the public. Future tenants are also advised to do the same.  

In order to find tenants, office operators are taking this seriously. As an example, our friends who have Offices in Manbre Wharf, have fully implemented health and safety protocols to ensure that tenants are safeguarded from the threats of COVID-19. Everywhere else in the world is having to do the same. 

So, what are the general health and safety protocols when it comes to renting offices? 

Here are the details of the scope of health and safety protocols involving renting office space and other commercial establishments that you should know before renting office space: 

  • Risk Assessment: Assessment of environmental, health, and safety risks, which tackles the responsibility of landlords and property owners when creating rental policies and agreements. 
  • Management And Reporting Of Cases: It tackles the responsibility of landlords and property owners to report any case of COVID-19 during the period of lease to concerning health and government authorities. 
  • Implementation Of Guidelines: Once health and safety guidelines are fully explained to tenants, landlords and property owners should do all means to monitor full compliance. On the other hand, tenants, particularly office or business owners, must make their employees aware of the policy.  

Social Distancing In Offices 

Before the strike of COVID-19, many office layouts and designs have open plans, which aimed to promote good collaboration, better communication, teamwork, and cost-savings. However, the current pandemic forces everyone to maintain physical distancing or what is called “social distancing” to keep people safe from one another. 

The US Centers for Disease Control and Prevention (CDC) suggests that people practice social distancing by maintaining at least a six feet distance between individuals. Because coronavirus is highly contagious, employee desks must be spaced wide apart, and possibly each employee should have an individual cubicle to avoid getting infected.  

Renting Additional Office Spaces 

It is now impossible to fit employees in offices as pre-COVID-19 having the same number of people in the same square footage. Business owners either need to set alternating work schedules for their employees by creating an Agile Workplace or lease additional office space, which means additional overhead cost. 

Here are some benefits of renting additional office spaces following the pandemic: 

  • Be able to resume peak business operations to attain higher productivity and revenue as compared to last year. 
  • Help businesses recover from low production and sales because of temporary closure or sluggish business operations during the peak of COVID-19.  
  • During the new normal, renting extra office spaces is a better option than compromising the health of your employees and facing legal consequences due to negligence. 

Corporate Culture Adjustments 

Workplace culture greatly transcends in your office. Corporate culture is highly reflected by the office layout and structure because collaboration, open communication, and promoting productivity are readily seen through open plans. However, there must be some adjustments following the pandemic, which means less worker density, fewer meetings, and less social get-togethers.  

When renting a new office space, you may need to also make some adjustments to your previously planned corporate culture. Here are the challenges you might face when adjusting to corporate culture when renting office space following the pandemic crisis: 

  • Recruitment: It will be a challenge to attract new talents, but the virtual world can decrease the burden of hiring new employees. Final face-to-face interviews are still possible in office buildings following the health protocols, such as installing hard, transparent plastic dividers between the interviewers and the job applicants. 
  • Office Design: Designing and modifying existing workspaces can be difficult. Supporting the established culture and following the new health and safety protocols poses a challenge to everyone. For this reason, your architect and interior designer should work together to come up with the best solution designed for your business needs. 
  • Co-Working: While co-working has been a trend and major contributory factor to the office market recovery, the new health protocols that accompany COVID-19 may have an adverse effect on co-working businesses. Co-working companies may diminish following the pandemic, so venturing into this work setting is not advised. 

Conclusion 

Renting office spaces nowadays can be more challenging than ever. All future tenants must comply with existing health protocols, like ensuring social distancing and wearing of personal protective equipment, like face masks. Business owners would likely need to rent additional office spaces and make the necessary corporate culture adjustments to be productive and realize business goals. Let us know if we can help you find new office space. Contact us today!

How To Find Offices To Rent In Your Area

How To Find Offices To Rent In Your AreaDeciding on offices to rent is an important part of running a business because the legitimacy and professionalism of the brand can depend on the appearance and functionality of the office. It’ll be challenging for businesses to haul in clients and employees if their offices look unkempt or don’t have any amenities.

If you’re having a hard time finding offices to rent and can’t get the help of a tenant rep in out of the way locations like office space Oxford and need to do it yourself, this article can help. As long as you know what factors to consider, you should be able to find offices to rent that suit your budget and helps your business succeed.

Here’s how you can find offices to rent in your area:

1. Know How Much Space You Need

Contrary to popular belief, appearance shouldn’t be one of your first considerations when finding an office. For you to be fruitful in your search, you need to start by determining how much space you need.

One good rule of thumb to follow is to ensure that you have about 150 square feet for every employee. This space is sufficient for your employees to move around and utilize several pieces of equipment at work. Use our office space calculator to help determine how much space you need.

2. Determine Your Budget

Finding the perfect office for your business doesn’t mean you’ll need to spend your entire business budget on it. If you want your business to thrive for years, it’s essential that you determine and stick to a budget when finding an office to rent. 

Make sure to consider the following when determining your budget:

  • Determine the average price per square foot
  • Add common area maintenance fees
  • Don’t forget to include utilities
  • Any NNN charges such as taxes, inusrance and maintenance

3. Consider The Location Of Your Employees

Your employees play a vital role in the success of your business. Without them, it’ll be challenging for you to oversee different areas of your business and ensure that your business continues to thrive in the long run. 

When finding offices to rent in your area, don’t forget to consider the location of your employees. Ideally, you should rent an office that is convenient for your employees to travel to or is located near their residences. Doing so allows your business to retain and maximize the best talents. 

4. Ask Recommendations From Trusted Sources About Agents

You can always work with agents, aka tenant reps, to help you find offices to rent in your area. There are many agents offering their services today. Do you know whom to choose? Fortunately, asking for recommendations from friends who have done this and relying on trusted resources, like OfficeFinder, can help. 

Hiring agents will make it easier for you to find offices to rent in your area as these individuals have years of experience in the local real estate market, which means that they can suggest properties you never knew existed. They can also recommend the best locations convenient for your employees and customers. 

5. Pay Attention To The Landlord

The landlord you choose to work with can significantly affect your life as an entrepreneur and the productivity of your employees in the long run. You’ll likely experience stress when your landlord requires you to pay hundreds of dollars just to fix one broken light bulb in your office. 

The attitude of the landlord can influence the value you can get from your rent, which is why you should exert time and effort to know more about the landlord you’re eyeing to work with. You can do this by talking to some tenants of the building. The information you can get from these individuals will help you assess whether the landlord is professional and fair to their tenants or not. 

6. Do Your Best To Negotiate

Money is important in every business, especially when you’re still starting. It’ll be challenging for the business to thrive and succeed if you eventually ran out of finances after a few years of operating. 

For you to find offices to rent in your area, make sure to consider the price and do your best to negotiate. If you’ve seen an ad about an office lease that costs $4,000 a month, don’t immediately sign the contract. Set an appointment with the landlord and negotiate the rent down at least 5% below the listed price. You’ll be surprised how many landlords are willing to negotiate and accept lesser fees for their spaces. Especially now with the pandemic slowing business down.

Start Now 

There are countless offices available worldwide. Regardless of the nature of your business and the audience you want to engage in, you’ll be able to choose from several options. Find out more about the leasing process.

But for you to find the best office for your business, it’s best if you start your search early and use the services of a tenant rep, like the ones at OfficeFinder, if you can. Contact us today if you would like some assistance. There is no cost to our service or the services of our tenant reps.

Even Though Much of The World is Working Remotely, Here’s Why You Should Still Consider An Office

Remote Work PlaceIt is estimated that approximately 56% of the jobs in the US are compatible with remote work. Global Workplace Analytics project that 25-30% of the workforce will be working remotely, most of the week, by the end of 2021. The pandemic has created some new norms for working that are expected to last. The question is, will working remotely work for you and your company even after the panedmic subsides? There are a number of considerations that need to be taken into account in making the decsion on whether or not to maintain an office. What things should you consider?

Is your home environment suitable for working remotely?

While it’s great to save that extra travel time to and from work, is your home working environment conducive to productivity? Who is at home during the day? Where in your home do you work? We all love spending time with our family (well, maybe not all the time) but how much are you going to be interrupted at home?  As we know, it’s impossible to plan for all interruptions from Wi-Fi to plumbing issues to your elderly neighbor needing to borrow an egg for the cake they are baking. What you need to consider is, are you going to be more productive in an office, even if it is more convenient working from home. The pandemic has put an extra burden on working parents, especially those with more than one child. Many schools have reopened and yet most children have continued their learning online or virtually. This means that many parents have now had to balance their workload with playing teacher (creating a renewed respect for teachers that they rightfully deserve). Being physically in an office means that there are fewer opportunities for you to be interrupted, and, if you can increase your productivity, then you may be able to clock off early and better manage your responsibilities at home.

Are you starting a business?

The majority of businesses have been adversely affected by Covid-19, many closing down, but some new businesses have been innovative and thrived. If you are hoping to be one of those, then working from home may not be the best option. Are you going to be happy with people coming into your home, is it even going to be possible? Renting a new space is going to be less expensive than usual, given the oversupply of space. Most new businesses involve a lot of meetings, hiring staff, receiving goods from suppliers, and pitching to investors or clients. Consider a co-working space or renting office space monthly to cater to some of the dynamics that may come with starting a new business.

It can be quick and painless to register your new gig with many companies now providing this service. The pros at Fatstacksblog have screened the best companies for this, check out their review. Most new businesses involve a lot of meetings, hiring staff, receiving goods from suppliers, and pitching to investors or clients. Consider a co-working space or renting office space monthly to cater to some of the dynamics that may come with starting a new business.

Being social is important for physical and mental health

Much higher rates of anxiety and depression have been reported this year and many clinical psychologists have attributed this to isolation and the lack of human-to-human interaction not just in working remotely, but in our lives in general. Other negative effects of isolation have been lethargy and the so-called “zoom- fatigue” from too many online meetings. When you are considering working from home, it’s important to think about how much less you are going to socialize with others because of this. It is amazing what comes from water cooler conversations. Then think about all the meetings, coffee breaks, and small talk you have when you are in the office. All of these tiny interactions and adverse health effects add up. Taking this into consideration, healthier and happier workers are going to be more effective, confident, and creative in their job. It may be worth working in an office and being a better working version of yourself.

How Much Office Space?

If you decide to return to the office, working remotely is still an option. There is nothing that says this is an all or nothing decision. The big question is how much office space will you need and where do you need it? There are a number of options. Understanting the Agile Workplace concept is important. The concept is activity-based working space and making the work space flexible. It is an office hoteling reservation technique or set up in a workplace. It is a way of utilizing a work area more efficiently, utilizing non-assigned seating arrangement and desk-sharing to maximize and creating collaborative spaces. There are many companies that have taken this to heart even before the pandemic.

Many companies are now choosing to take advantage of using executive suites or coworking space as a means of providing flexible workspace for their employees. They do not all have to be located in the same place, but can be spread around for the conveniece of employees.

The whole world has had to embrace working remotely. It was a no-brainer, no-choice decision. Technology allows us to work from wherever we are. Once the pandemic subsides, it may not always the best option for everyone. For many, it may be their personal circumstances, such as being a parent, the number of children they may have, and if they are starting a new business. there are many considerations in deciding the level of working remotely that you choose. As we mentioned, there can be some negative mental health consequences from working remotely, too, For people considering working from home or thinking about going back to the office, assess your home environment to conclude if it is condusive to productivity and if it is going to allow you to be the healthiest and most productive version of yourself.

If you need help finding office space, whether conventional or flexible space, we can help. Contact us today for a no-obligation discussion on how we can help.