Office Space for Lease Overland Park, KS: Lease Problems to Look Out For
Since business owners typically only look for new Kansas office space for rent every three to five years, each rental process can feel like starting completely from scratch again. There are a variety of factors to consider, such as market conditions, finding a real estate agent to represent you and comparing all suitable properties in the area. Here are a few pitfalls to look out for when leasing commercial property in Overland Park, KS, as outlined in the article “10 Critical Issues When Leasing Or Buying Commercial Real Estate”:
#1 Choose Real Estate Agents Carefully
Finding a real estate agent or broker can be a difficult process to navigate, since sometimes brokers are representing both parties or only the landlord. If a broker is representing the landlord, their goal is going to be to to protect the interests of their employer. Beware also of companies who provide a different agent to represent each company, as this situation still can be a conflict of interests if they are hired by the property owner, despite the fact that they are different individuals. However, if you stay on top of your own interests and make sure they are prioritized, the advice of a broker employed by the landlord can still be valuable. But note too that even if these representatives are paid for by the property owner, the cost is ultimately passed on to you the tenant, so make sure that you are getting a good and experienced broker so you get your money’s worth.
#2 Look Beyond the Listings
Remember that the listing for a property should just be a starting point and not your only major source of information about a space. Do some research to find out about all available spaces in an area and which landlords are really looking to lease—and thus might be more willing to negotiate. You will also need to do some wider research to find out about market conditions, the benefits of different locations, potential client demographics, and bottom line prices for each property. Remember that the asking price in a listing is just the starting point for negotiations—tenants can usually either lower the price or ask for additional incentives or concessions in their lease.
#3 Get it in Writing
A big mistake tenants can make is not getting every aspect of negotiations in writing. This includes every promise, agreement, concession, warranty, etc. Making sure that every term and clause that is important to you makes it into the lease will prevent any disagreements or misunderstandings down the line.
Leasing commercial real estate involves some real awareness and an investment of your time and energy to come out with a good deal. Make sure that you are verifying all information, sticking to your budget, asking questions, and keeping in mind a clear picture of your business’s needs—then don’t be afraid to negotiate for what you want.
If your business is interested in commercial office space for rent in Overland Park, KS, give us a call at 913-685-4100 to find out more about our office spaces for rent in Overland Park, KS, or to set up a tour!