Documents Needed for an Office Space for Lease in Overland Park, KS
Signing a commercial lease also involves providing a few other documents for a landlord, so it is important to make sure your business these different documents and can get them to the landlord so as not to hold up the leasing process. While different leases and landlords might require different specific documents, here are five documents you can generally expect to be asked for when looking to rent office space in Overland Park, as outlined in the article “Documents Required to Sign an Office Lease”:
#1 A Business Plan
Particularly if you are a startup company, a landlord is going to want some assurance that you will be a stable and reliable tenant. The first step in proving this is to provide them with a business plan, which should include an overview of what your company does, your goals both for the short and long term, and a general description of how you plan to use the office space. A good business plan will assure the landlord that you are thinking of the big picture and have really considered what leasing the space will entail.
#2 Bank Statements
In addition to your business plan, the landlord will want some financial records proving that your business has a good financial history, which is an indicator of your ability to pay rent. These documents should include things like profit and loss statements or balance sheets.
#3 Tax Returns
Providing your tax returns for the previous two years will help establish that your business is above board and is another indicator of your reliability.
#4 Professional Resume and References
A professional resume or some references from clients, previous landlords or accountants also further confirms the character of your business. A landlord might request both the resume and a few different references, so be ready with names to give them.
#5 Personal Guarantee
This is less than ideal for a business owner, but sometimes landlords require one. When you negotiate your lease, try to also address this issue. You might not be able to eliminate the need for it entirely, but you can try to ask for a limited personal guarantee, which might require you as a business owner to only pay rent for a certain period of time if your business breaks the lease. You can also see if you can have the guarantee waived after a certain point in the lease term. However, the landlord will most likely want some guarantee as an extra form of protection.
If you are in the process of looking for office space for lease in Overland Park, KS, make sure that you can access all of these documents. Your landlord might require more documents, such as an insurance policy, but this is a good place to start in establishing your good character as a potential tenant.
If your business is looking for commercial office space for rent in Overland Park, KS, give us a call at 913-685-4100 to find out more about our available Kansas office space for rent, or even set up a tour of an office space for rent in Overland Park!