Overland Park Office Space for Rent Leasing Tips

Lease negotiations can be an arduous process for small businesses leasing Overland Park office space for the first time.  Here are a few tips to keep in mind as your business looks into leases:

Watch Out for Assignment Clauses
Be wary of an assignment clause in a lease that states that a change in more than 50% of the stock ownership of the company is prohibited without the approval of the landlord, because this could result in the accident termination of a good lease.  If your company grows and gains more investors, you could inadvertently trigger this clause.

Try to Avoid Personal Lease Guarantees
Sometimes landlords want a personal guarantee from the founders of the business if the potential tenant is a corporation or other entity.  If possible, avoid this clause, because it could put both your personal and business assets at risk.

Negotiate the Best Possible Lease Relocation Clause
A relocation clause allows the landlord to move a tenant to another space within the building or complex if a larger tenant needs the space.  Your company probably will not be able to get this clause removed from the lease, but you could try to negotiate it as much in your favor as possible by requesting three contingencies.  First, ask for the same rent, office structure, views, quality of furnishings, etc. in the new space.  Second, make sure the clause says that the landlord is responsible for any moving or renovation costs associated with the relocation.  Third, insist on at least a month’s notice for relocation.

Being aware of these little parts of leases can help your business avoid any lease surprises down the line.

If you want to find out more about executive suites in Kansas City, give one of our commercial real estate brokers a call at 913-685-4100!

Share

Related Southcreek News