After finding potential spaces, submitting initial proposals, and receiving responses, the next step in leasing an office space is to compare the responses to proposals. Here are a few points of comparison you might want to consider as you move forward with your proposals, as suggested in the CityFeet article Proposal Responses:
- Rental Rate. You will want to calculate your rental costs based on both the rentable square feet in a space and usable square footage. To calculate rent based on usable square footage, subtract the load factor from rentable square feet.
- Improvements. If you are planning on making any improvements to a space, you will want to look at the cost to you versus what the landlord will finance. Sometimes owners will cover some or all tenant improvements, whereas others require you to pay for the changes yourself. Compare the improvements different spaces need along with offers of financial assistance from landlords in your responses to determine the most cost-efficient options.
Take your time to objectively evaluate different spaces based on essential points of comparison. You will want to collect this measurable data to help shape your decision before you get attached to any one space.