When you are in the initial phases of finding a new office space for your business, it is important to give yourself options. Once you have written proposals to a number of landlords, take some time to compare their responses to gather some objective data on how the different spaces meet your needs and fit in your budget. Here are a few more points of comparison, as suggested in the article, Proposal Responses:
- Lease Length. It is important to consider how long you would like to lease a space and what kind of clauses in the lease landlords are suggesting. If you are a growing business, you will want to look for options that allow you to begin with a short lease term with options to renew or possibly expand into surrounding space.
- Operating Expense Histories. You can glean some useful information about a potential space by asking for a three year history of their operating expenses. Unless there have been obvious issues such as increases in energy costs, insurance issues, or maintenance contract negotiations, a well-well run and stable business should have pretty consistent operating expenses from year to year.
Take some time to evaluate your responses objectively before you move forward in choosing a space!