Did you know that office space is usually one of the largest expenses for a growing company? Think of what your company could do with some money you save by negotiating the best possible lease. Not all Kansas City office space for lease offers standard terms, but here is a little bit of information on leases that could help you become a little more knowledgeable:
- Terms of the lease. Long term-lessees typically have the advantage of potentially gaining concessions from their landlord. However, the needs of your company may change depending on growth and other factors, so a good middle road might be a shorter-term lease with renewal options.
- Permitted use of the space. Office leases usually include a part that states the allowed uses of the rental space. It is in the lessee’s best interests to make this clause broad in case you want to sublease or diversify your business.
- Rent increases. You will rarely find fixed rent in the case of a long-term lease, so be prepared to negotiate about your annual rent increases, usually based on percentage increases in the CPI (Consumer Price Index). If possible, you can try to arrange for the CPI increase not to start until two years and try to cap the amount of each annual increase, or discuss the possibility of a predetermined fixed increase.
- Subletting and assignment. Your business might want to negotiate a flexible subletting and assignment clause to account for potential reorganizations, mergers, or share ownership changes.
Learning the language of leasing is a good step in making sure that your business saves money when securing your new executive suites in Kansas City.
If you would like to ask questions you have about Overland Park office space for lease through Southcreek Office Park, give us a call at 913-685-4100!