Before you get ready to pick your perfect office building in Overland Park, think about brushing up on your leasing-lingo. Most leases are slightly different, so knowing how to negotiate a lease could help your business save money and get exactly what you are looking for. Here are some suggestions for what to be aware of when figuring out a lease:
- Improvements made by the tenant. You might want to make some improvements or changes to your new office space. Be sure to be aware of what your lease says about this. Form leases usually state that a tenant must have the landlord’s consent to make any alterations, so if you are thinking about making any improvements, you might want to make sure that your lease includes a clause that allows you to do so with your landlord’s consent and that the consent will not be delayed or withheld unreasonably. You should also be on the lookout for any clauses that say that a space must be returned in its original condition at the end of the lease.
- Common area maintenance and operating costs. Be aware of any operating costs that your landlord is holding you responsible for. If they are separate charges, you might try to negotiate a cap on the amount or a fixed fee.
- Option to renew. If you are thinking about renewing, see if you can negotiate to renew your rent at a set predetermined price instead of based on “fair market” price at the time.
- Right of first offer and right of first refusal. Right of first offer means that your landlord is obligated to present any space in the building that becomes available to your business before offering it to third parties. Right of first refusal means that your landlord has to offer you first any deals he or she is might make with third parties for a space, giving you the opportunity to preempt the third party and match that deal.
Knowing the ins and outs of a lease could save your business money in the long run and ensure that you are getting exactly what you want from your office space lease in Overland Park.
If you would like inquire about lease negotiations for Overland Park office space through Southcreek, give us a call at 913-685-4100!