Now is a good time to look for commercial real estate in Kansas City for small businesses. Whether you are looking to upgrade, relocate, or simply expand, here are some Dos and Don’ts for how to approach this search for office space for rent in Kansas City from a careful, analytical perspective, as suggested in the article “How to Lease Commercial Real Estate: Part I”:
As you’re looking for a lease and trying to save money for your business, there are some things you should avoid. Don’t…
- Stop looking after you have found one good space. You should find at least two or three places that you could see yourself leasing. Having options will give you both negotiating leverage and a safety net in case your dream office falls through.
- Sign anything until you fully know and understand every detail of your lease. Play close attention to things like maintenance and repair costs, as well as insurance and taxes. You do not want to find any costly surprises after you sign your lease.
- Get attached to any one space before negotiations. It is tempting to stretch your budget to get your ideal space, but this could be an expensive sacrifice in the long run. Wait until after you’ve negotiated terms that your business can live with.
Here are some things your business should keep in mind as you look for a space. Do…
- Ask yourself whether your customers and clients will love this space. While you want a place that you and your employees will be comfortable in, ultimately this is about making a smart business decision with your customers/clients in mind.
- Get a pro forma copy of the lease from the landlord ASAP. Because commercial leases are each so different, you want to see this sooner rather than later so you can start to get a picture of what you are dealing with.
- Make a comparables analysis to compare the different potential spaces – you can do this electronically in a spreadsheet. Make sure you include the square footage, price per unit, expenses (such as CAM fees), lease term, and any other pros and cons that are important to you. This will help you make an objective decision if you reach a point where you are deciding between multiple properties.
Make sure as you are comparing sizes costs that you are comparing apples to apples (i.e. usable square footage vs. rentable square footage). This also might require a visit to the property to clarify.
When you are making this kind of decision for your business, you want to make it as fact-based as possible. Keep detailed notes on different properties and let your business sense rule your decision-making.
If you’re interested in office space for lease in Kansas City give one of our commercial real estate agents a call at 913-685-4100 to learn more about our commercial property management in Overland Park, KS.