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5 New Year’s Resolutions for Your Office Space in Kansas City

You may have resolved to exercise more or to finally get to some projects around the house this New Year, but have you thought about some resolutions for the office? Here are a few suggestions for ways to make 2014 a productive New Year in the workplace:

#1 Set Clear Goals

An obvious first step to improving your year is setting goals, but make sure these goals are clear and attainable so they provide motivation and not frustration.

#2 Delegate!

Do not take all the work on yourself, which can be tempting in a small business environment. Save yourself some stress and achieve a more balanced work lifestyle by passing along tasks to others.

#3 Try Something New

Whether you take a free ecourse or talk to other people in the business for new ideas, stretch yourself to do something new. You might improve your business skills, or you might just find a new area of interest unrelated to your business, which still adds a healthy element of balance to your life.

#4 Schedule Time for Yourself

Part of achieving healthy balance is knowing when to scale back and take time to reenergize. Try to make a weekly commitment to do something you enjoy and be as firm in honoring that time as any other business commitments.

#5 Be a Good Community Member

There are plenty of worthy causes out there—find one you are interested in and resolve to volunteer, donate, or even be a leader in an organization.

You spend so much of your time at work—don’t neglect this part of your life as you are considering your New Year’s resolutions!

If your business is looking for Kansas City office space for rent, give us a call at 913-685-4100 to find out about our affordable office space in Kansas City!

How Do I Pick a Kansas City Office Space Location for my Business?

Once you have decided that renting an office space is the best move for your business, the next step is to start finding the best location.

Commercial real estate agents will tell you that the most important factor in establishing a successful business is true to the old adage: location, location, location. This does not always necessarily mean that a high traffic, high cost area is best for your business. To make sure you find a space that meets your financial and physical requirements, consider the following questions.

How important is location to your business’s success? Does your business require you to be near other stores or in the area of a certain client base?
What kind of location best serves your business? Do you need to be in an area that gets a lot of foot traffic or is easily visible from the road?
How much rent can your business afford? Know your budget going into the search, and do not let yourself make leasing decisions that put your business at financial risk.
Is your potential location appropriate for your business operations? Have you looked into zoning requirements or other legal restrictions on business operations in the area?

Before you enter into serious negotiations, make sure that a potential space meets your location needs.

If your business is looking for an affordable office space in Kansas City, give a commercial real estate broker in Kansas City a call at 913-685-4100!

Frequently Asked Questions About Office Space in Kansas City: Part II

If you know nothing about finding an office space for your business, do not panic. It is important to go into negotiations with some preparation, but luckily there is a lot of information out there about how to find and negotiate a commercial lease. Here are a few frequently asked office space rental questions and answers to get you started:

3. Are lease terms negotiable?

While landlords are looking out for their own best interests, they are almost always willing to discuss concessions. Know that your bargaining power will depend on the local market—if it is tight, you will not have a lot of ability to negotiate. Even if the rent is non-negotiable, you might be able to negotiate for limits on rent increases and costs of things like utilities, repairs, taxes, etc. You can also negotiate for the length of your lease, as well as potential improvements to the space with financial assistance from your landlord.

4. How can I find out if my potential location is properly zoned for my business?

Start by checking local zoning ordinances. Next, you need to see if there are any other legal restrictions that might affect your business. For instance, there might be limits in that city on certain types of businesses (i.e. coffee shops or fast food places) in a certain area, parking or advertising stipulations, or certain restrictions on hours. Check to see if the city has a business development office that can help you navigate these questions.

5. Do your research before entering into lease negotiations!

Is your business looking for office space for rent in Kansas City? Give us a call at 913-685-4100 to set up a tour of one of our available office suites for rent in Kansas City!

Frequently Asked Questions About Office Space in Kansas City

If you are just starting to look into finding a commercial space for your business for the first time, the process can seem overwhelming. Don’t go in unprepared. Think about your business’s needs and research what the leasing process entails. Here are the answers to a few frequently asked leasing questions to get you started:

1. Should I rent or buy a business space?

Almost all businesses who are just starting out in their own space choose leased (rented) spaces, and most businesses in general lease space at some point throughout their lifetime. When you lease instead of buy, you can avoid using up valuable capital for working, and leasing also makes it easier to relocate if you outgrow a space or need new accommodations.

2. What is a commercial lease?

A commercial lease is different than a residential lease. It is a contract between a landlord and a business for the rental of an office building space. A commercial lease can consist of a short term (i.e. a month) or a long term (as much as ten to 15 years). Leases can be written or oral, but a written lease is a safer bet because a judge will typically not enforce an oral lease after a year.

Having an understanding of basic commercial lease information is a good place to start when thinking about renting a space for your business

If you are interested in commercial space for lease in Kansas City, give a commercial real estate broker in Kansas City a call at 913-685-4100!

Common Terms in an Office Space Lease in Overland Park: Part V

Even if you feel like you understand the main terms you will be negotiating in a commercial lease, it is important to make sure you are also aware of the minor clauses you will encounter, as they can add up to a more successful and convenient tenancy. Here are a few final lease clauses to be aware of:

9. Improvements and Alterations. If you need to make some changes to a space to fit your business’s needs, you need to address this issue in the lease. You and your landlord will have to discuss who pays for it, when it needs to be finished by, who does the work, and who gets final say on design.

10. Utilities, Maintenance, and Code Compliance. A lease will most likely contain a clause spelling out the landlord’s expectations for how you care for your rented space. Often this goes along with a utilities clause if you are a tenant in a multi-tenant building, which settles how the utilities for the building will be billed and paid for. Finally, there will probably be mention in the lease of the landlord’s expectation that you keep the space “up to code” (the meaning of this is often vague). This clause is sometimes titled “Compliance with Laws” or just “Compliance.”

11. Parking, Signs, Etc. There will probably be several clauses in the lease that address practical concerns such as signage, parking, security, etc. The goal of these negotiations is to find ways to be able to run your business wisely and still comply with your landlords requirements. These clauses might not seem as weighty as ones that address rent and other major concerns, but they are still an essential part of a successful and convenient tenancy.

Do some research and be prepared for your negotiations!

If you are interested in Overland Park office space, give us a call at 913-685-4100 to find out about our available affordable office space in Overland Park!

Common Terms in an Office Space Lease in Overland Park: Part IV

Do not miss out on an opportunity to negotiate the best lease terms for your business because you do not understand the language of leases! Here are a few more insights into common commercial lease terms:

7. Rent. For small businesses, rent is a crucial part of the lease. It is important to look carefully at this clause for any of the following potential costs or savings:

Unexpected expenses—be sure you know exactly what parts of the landlord’s operating costs are being passed along to your business.
Savings that might make it possible for your business to take on other expenses—for instance, a landlord could offer you a “tenant improvement allowance” for improving the space before you move in.
Any other issues you might want to renegotiate, such as periodic rent increases.

8. Security Deposits. A landlord might ask for a security deposit to cover expenses if you fail to pay rent or meet other financial obligations. Residential landlords in many states are limited to only asking for two months’ rent as a deposit, but commercial landlords are allowed to ask for any amount they think is necessary to cover any of these expenses. Alternately, they might ask for a “Letter of Credit” from your bank, which states that the bank has put aside a specified amount for your landlord’s use in the event you fail to meet a financial obligation.

Be aware of these clauses as you enter negotiations so that you can advocate for your business’s needs!

If you are considering executive office rental in Overland Park, give a commercial real estate broker in Overland Park a call at 913-685-4100 to find out about our available spaces!

Common Terms in an Office Space Lease in Overland Park: Part III

It is important to be aware of what kind of clauses you will encounter in a commercial lease, as there are many different factors associated with renting a space that your business will need to consider before signing. Here are a few more examples of clauses you will most likely find in your lease:

5. Term Clause. This clause will probably be near the beginning of your lease and gives the length of the lease, along with specific beginning and end dates. It might be tempting to gloss over this section, but it is important to pay attention to details here. For instance, the lease might state that the start date is the day you sign the lease, which would mean that from that day on you are responsible for rent and often other obligations, such as carrying insurance. To avoid this potential issue, you want to make sure your lease includes several dates stating when you can move in, when rent is due, when you are responsible for insurance, etc.

6. Insurance Clauses. There are several different types of insurance available to your business, so you will need to evaluate each one as it relates to your landlord’s requirements, the needs of your business, and the property. An insurance broker can also help with this process, especially when it comes to determining an adequate level of coverage.

Coming in prepared to negotiate will help you achieve the best possible lease for your business!

If you are interested in Kansas City office space for lease, give one of our commercial real estate brokers in Kansas City a call at 913-685-4100!

Common Terms in an Office Space Lease in Overland Park: Part II

As you enter negotiations for an office space lease, you will want to have some idea of what clauses you can expect to find in the lease. Here are a few more common lease terms that you will typically run across:

3. Use Clause. The use clause defines how you will be able to use your space. Limitations might include what kind of business you will conduct, what products or services you will sell, or even something as vague as the quality of your operation. Landlords might impose these restrictions for a few reasons:

The landlord is worried about liability issues for certain types of businesses.
The landlord has made agreements with other tenants to not rent to competition.
The landlord dislikes certain kinds of business activities.

You will want to try to avoid these restrictions as much as possible; in the best case scenario, your landlord does not include this clause at all.

4. Exclusive Clause. This is a promise by the landlord that states that you are the only business in the mall or building that may carry a certain product or engage in a type of business. If you have this clause, it means that other tenants will have clauses that forbid them from conducting business that would violate your exclusive clause. Typically the most powerful “anchor” business in a building gets these exclusive rights.

Do a little research and be prepared to be a savvy negotiator for your business!

If your business is looking for Kansas City office space for rent, give Kathy Woodward at DDI Commercial a call at 913-685-4100!

Common Terms in an Office Space Lease in Overland Park

Once you have settled on a space and reached an agreement on basic things like rent and lease length, it is time to deal with the formal, detailed elements of a lease. It is crucial that you head into this step with an understanding of common clauses found in commercial leases to avoid any traps and help you negotiate for changes in your favor. Here is a list of a few common lease clauses to have some background on:

1. Parties. A lease usually begins by naming the landlord and tenant in a clause called “Parties.” This may seem like a fairly basic part of the lease, but it is important to look closely at it to make sure your business’s exact legal name is used. If there is an error in the way you are identified—for instance, if you are a corporation or LLC and give your personal instead of corporate name, you could become personally responsible for the lease, opening you up to personal liability.

2. Premises Clause. Also at the beginning of your lease will be a clause typically titled “Premises” that identifies the space you area leasing. If the space is an entire building, this clause should simply include the address, but if it is a more specific space, you need to make sure that your space is described in more detail. For instance, if you want access to things like parking lots, storage rooms, kitchen facilities, conference rooms, or other amenities, you will want the lease to list those specifically.

Make sure that there are no surprises on your lease by being prepared when you enter negotiations!

Looking for affordable office space in Overland Park? Give a commercial real estate broker in Overland Park a call at 913-685-4100 to find out about our available spaces!

Some Tips for Determining the Actual Cost of an Office Rental Space in Overland Park: Part II

It is important to determine the true cost of a space for a couple of reasons. First, you need to be certain that your budget will cover the rent and other expenses for a space. Second, if you are deciding between a few different spaces, knowing the true cost each space can help you better compare those spaces. Here are a few more tips to help you determine what the landlord is really asking you to pay:

3. Consider the layout of the space. It is important to take into account not only the size of the space, but its configuration. Sometimes spaces may have awkward angles, narrow corridors, or interrupted work spaces. This is much less useful than well designed work areas or hallways that can accommodate bookshelves or places to put office equipment. You might actually get a better deal with a space that is $20 per square foot than $18 per square foot if the more expensive space has a layout that allows you to use it more efficiently, resulting in you needing less space.

4. Find out if you will have to pay for extras. If you do not know much about commercial leasing, you may be surprised to find how different it is than residential leasing. In a residential lease, you might pay one lump sum that covers operating expenses, but in a commercial rental situation, you might need to pay for some of those charges separately.

5. See if the landlord wants a percentage of your profits. Especially in a retail space, sometimes landlords demand a share of your profits in addition to rent, or in a mall situation you might be asked to pay what is called “percentage rent.”

Being aware of these rental cost issues can help you be a sharper negotiator.

If you are interested in executive office rental in Overland Park, give a commercial real estate broker in Overland Park a call at 913-685-4100!