commercial office space for rent overland park ks

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!

Finding Kansas Office Space for Rent: 4 Steps to Take Before You Start Negotiations

Before you start a serious search for commercial office space for rent in Overland Park, KS, give yourself plenty of time to really prepare yourself—especially if it is your first time dealing with a commercial lease. Your professional image, business assets and the futures of your employees are at stake in this decision, so there is every reason to exercise the utmost care. Here are a few steps to take to get ready for the process of commercial real estate negation and rental, as suggested in the article: “Your First Commercial Lease: How to Prepare and What to Expect”:

Familiarize yourself with the jargon. Determining whether the spaces you are looking at are right for your business sometimes comes down to a matter of technical terms. Make sure you understand the different classes of commercial property, the different types of leases, and the difference between “usable” and “rentable” square footage. It is also important to understand the names of other fees associated with a lease, such as Common Area Maintenance (CAM) costs, as all of these things ultimately affect what you are paying for and your experience of the property.
Assess your budget. In addition to knowing the names of the various costs, you need to know whether your business can handle them. This means first looking at the financial status of your business, your projected growth and the level of risk that it is safe to assume in a lease.
Seek professional guidance. One thing to seriously consider in order to make the process a bit easier for you is working with a real estate attorney or broker to help you understand the details of your lease. While this is an added expense for your business, it might pay off in the long run if you can get a better deal and avoid some serious leasing pitfalls. Be wary of the brokers that are brought on by the landlord, as they are not objective third parties or interested in the most favorable terms for you. An experienced professional hired by you will have the best eye for details that a first time lessee might miss.
Consider the growth of your business. Another thing to think about is the growth of your business in the upcoming years. If you anticipate your business getting bigger, it is important to look for a space that you can grown into, or a lease with an option to expand. Most new and growing business also opt for shorter term leases (1-3 years) with an option to renew.
Evaluate your brand. A final thing to consider is how the location will affect the image of your business. Remember that even if you are only there for a few years, every place you choose will contribute to the brand image your business is building, and certain neighborhoods or properties convey different messages. This factor is more abstract than just the budget numbers, but take the time to include it in your overall strategy for finding office space for lease in Overland Park, KS.

Before you even start looking for Kansas City office space for rent, do the necessary homework to make sure you know what to expect from the process and what is best for your business.

If you are looking for commercial real estate in Kansas City, give us a call at 913-685-4100 to find out about our available office spaces for rent in Overland Park, KS.

Office Space for Lease in Kansas City: Understanding and Negotiating CAM Fees

No matter what size business you are or how much commercial real estate in Kansas City you are looking to rent, it is always worthwhile to ask for a better deal before signing your commercial lease. One area that can be confusing for businesses leasing a space is CAM fees, although this is an area that deserves attention in negotiations, as these make up a notable portion of the expenses you will be responsible for during your lease term. Here is some information on what CAM fees are and how to deal with them, as outlined in the article “Tips on How to Negotiate CAM Fees in Commercial Leases”:

Understanding CAM Fees – The most basic step is to understand what these fees are and what they cover. CAM fees typically cover the maintenance and repair of common areas that affect all tenants, including elevators, stairways, lobbies, restrooms and hallways, plus sometimes even the parking lot, sidewalks and landscaping of the property. Make sure your business’s CFO understands how to factor these fees into your budget.
Administrative CAM Fees – If you see this in your lease, these fees are something you definitely have grounds to reject. These are the fees that are related to operational or management expenses and should usually be taken care of by the landlord.
Beware of CAM Fees for the Exterior – Another aspect of CAM fees that you should push back against is exterior building maintenance. In theory, the landlord is making money from these buildings through the rent that you pay, so maintenance of this aspect of the property should be paid for by the landlord through the rent you pay.
Review the Bills – If your landlord won’t budge on your refusal or negotiation of certain CAM fees, you can ask to see proof of these expenses. Write it into your lease that you have permission to review these bills to make sure the expenses are being calculated correctly and appear reasonable.
Cap the Increases – Make sure that you negotiate for a cap to how much CAM fees can be raised annually. This could either be a percentage or a stipulated maximum amount. Make sure that you address this specifically, separate from other rent increase clauses.

In order to be prepared to negotiate the best lease possible for your business, it is important to know what you are dealing with in a commercial real estate lease. CAM fees are a major expense you will be responsible for beyond your regular rental payments, so it is important to understand how these work and how to make sure that your portion of these expenses is fair and reasonable. Do the due diligence on how to deal with CAM fees for office space for lease in Kansas City and save your business some money in the long run!

If your business is looking for commercial office space for rent in Overland Park, KS, give one of our commercial real estate agents in Kansas City a call at 913-685-4100 to learn more about the spaces our commercial property management in Overland Park, KS, has available!

Commercial Office Space for Rent in Overland Park, KS: Finding and Keeping Your Ideal Location

An office space lease is a serious commitment for any business. On top of the cost you pay per month, you have to be prepared to pay for other expenses, such as insurance, maintenance and taxes, as well possibly putting up a personal guarantee. Since this is such a big financial decision, it is important to approach leasing as a well-informed negotiator. Remember that there is no standard lease, so don’t be discouraged if the initial terms the landlord offers do not work for you—there is always room to negotiate. Here are a few issues to consider when looking at the locations of office spaces for rent in Overland Park, KS, as described in the article “Office lease negotiating: Part 1—location & relocation”:

Location Considerations

When selecting an office space location for any business, there are three crucial things to remember: visibility, accessibility, and desirability. In other words, you need to find a location that your clients can easily find and want to go to. Here you more specific considerations to look into when evaluating the location of an office space for lease in Kansas City:

Visibility Changes – While you might start off with a space that has great visibility, it is important to make sure upfront that your signage and space remain visible. For example, what happens if partway through your lease a tree blocks your sign, or your sign is no longer lit? These problems aren’t uncommon and can definitely be addressed in your lease by stipulating the landlords maintenance obligations—but this requires the foresight to anticipate these issues.
Referring Potential – In addition to finding a place that is easily accessible to your clients, you might also want a place where nearby businesses can provide a reference to your business. If all other things between two office space options are equal, it could certainly tip the scales if one of the places is near a business that could send some clients your way.
Exclusivity Clause – Another issue that should be addressed in lease negotiations regarding location is an exclusivity clause. This prevents the landlord from leasing spaces in the same complex to direct competitors of your business. You might not be thinking about competitors when you first move into a space, but it is important to plan for the possibility of one seeking a nearby office.
Logistics of Access – When assessing how easy is a place is to access, it is important to think out the logistics of how your clients will reach you. Is there nearby highway access? What about public transportation stops? If you live in a bike friendly city, will people be able to easily bike to your office?
Parking – One final thing to consider is the parking situation at your office space. Make sure you know if you will have enough parking for both employees and clients and how close parking is to the building. You should also ask about parking lot security, particularly if you anticipate employees staying at the office after dark.

Remember that a lot of these concerns are not things that a landlord will address right off the bat. It is important to raise these questions yourself and negotiate for any necessary clauses or provisions in your lease to address them.

The Relocation Clause

A lot of leases might include a clause that gives the landlord the right to relocate you at some point during your lease term. In a lot of cases, you might not be able to eliminate this clause entirely, but there are a few things you can negotiate for to limit the power of this possibility:

The amount of notice required before relocation.
The places to where you can be relocated.
The window of time in which a landlord can choose to relocate you.
The costs of relocation and who is responsible for them.
The right to end your lease if you do not want to relocate.

It is important to bear in mind while looking for an office space for lease Olathe, KS, that the offered lease is not a document set in stone. There is a lot of room for negotiating to see if you can satisfy all of your concerns. The best way to make sure that your issues are addressed, particularly when it comes to location and relocation, is to make sure you educate yourself ahead of time on what is important and keep an eye on your priorities throughout negotiations.

If your business is interested in a commercial office space for rent in Overland Park, KS, give us a call at 913-685-4100 to learn more about our Kansas office space for rent!

5 Steps to Turn an Office Space for Lease in Overland Park Kansas into a Co-working Space

Ready to get out of the home office or stop working in coffee shops, but not sure where to go next? Co-working spaces are the buzz of the entrepreneur world as startups and entrepreneurs begin to realize the value of a creative atmosphere and networking opportunities inherent in a shared space.

But what if there isn’t a co-working space near you that fits your needs? If that is the case, it might be a great opportunity to start your own co-working space in a commercial office space for rent in Overland Park, KS. If you are interested in creating a shared office space for yourself and other like-minded businesses or individuals, here are a few steps to take, as suggested in the article “7 Tips for Creating Your Own Co-Working Space”:

#1 Spread the Word

Before looking for a space, start getting the word out in your local business community that you are thinking of undertaking this project, so you can see if there really is a demand for a co-working space in your area. Since the idea of co-working is so new, you want to make sure that you have an interested group of businesses or individuals before you rind a space, rather than renting one and hoping people will join you.

One way to evaluate interest is to host some events, create a Facebook group or use other means of online advertising and communication. If you only have a small interested group, continue to meet or talk with them—the interest in a co-working space could grow over time and become a possibility later down the line.

#2 Choose Your Location

This is one of the cardinal rules of finding office space for any business. Make sure that you have a space that is convenient and suitable for all parties. If you are looking for a good deal on a space, try to find one that has been on the market for a long time or a building with a lot of openings—you might be able to negotiate a better deal on these kinds of spaces with a landlord.

#3 Style and Function

The co-working space trends tends to revolve around environments that are a little unconventional and conducive to comfort and creativity, but this requires serious consideration of your budget. The space might not be as hip and energetic as Silicon Valley right away, but you can continue to make changes over time.

To start, be realistic about your budget and priorities. For example, high-speed internet and other basic utilities should be at the top of your list. In regards to furniture, consider buying secondhand or even letting occupants bring their own to create a space that is eclectic and comfortable, but cost-effective.

#5 Find Support

This might seem like a financial impossibility for a group of small businesses, but often there is a lot of local help for entrepreneurs and businesses looking for office space for lease in Overland Park, KS. Contact your local chamber of commerce or small business associations and development centers to ask about grants and loans that could help defray the costs of renting a space.

Developing a shared office space can be a challenging and ongoing project, but so potentially rewarding for small businesses or entrepreneurs. The benefit of having the amenities of a larger space but with shared costs can be huge for small businesses, and many find the atmosphere of focused creativity to be much more conducive to work than the silence of home or the distractions of public places. So if you are not sure you can afford commercial real estate in Kansas City, start talking to your business community to see if creating a co-working space is the best option for you!

If you are looking for a Kansas office space for rent, give us a call at 913-685-4100 to learn more about our commercial real estate Kansas City!

Rent Office Space in Overland Park: 5 Reasons to Leave the Home Office

Feeling a little cramped at home but not sure you are ready to make the leap to your own office space? Finding your own office space—or part of an office space—might not be as scary as you think, and many small businesses and even freelancers are starting to want the benefits of some kind of office location outside of the home.

There are a variety of different space options for new businesses, ranging from small office space for rent in Overland Park to finding or creating shared space with other businesses. Regardless of what kind of office you are interested in, here are a few reasons why you should say goodbye to the home office and start looking for an office space for lease in Overland Park KS, as described in the article “The New Wave for Entrepreneurs Is Sharing Office Space”:

Freedom from Distractions. Working from home means a lot of freedom, but this comes with a price. Kids home from school, active pets, or the desire to get things done around the home can be problematic distractions. Even removing yourself to a coffee shop or some other public place can mean noise and interruptions not conducive to long periods of focused productivity. An office space provides an environment designed specifically for working, and will save you from the urge to wander to the kitchen and empty the dishwasher mid-email.
Amenities. Renting a space, even a shared one, means that you have access to your own desk, meeting rooms, work stations, a reception area, or whatever your business needs to function more smoothly. Even if you are sharing a space, just having your own desk away from home and a private room to met with clients can be a beneficial new development.
Short Term Lease Opportunities. It might seem like a big commitment to jump into an office space lease, but for new and small businesses there is always the option to sign a lease just for 2-3 years, ideally with the option to renew and expand if your business continues to grow and thrive.
Networking. Moving out of the home office and into an office building gives you more opportunity for interaction with other businesses. This opportunity to meet new businesses and individuals could lead to fruitful collaboration or networking opportunities in the future.

There are so many benefits to having an office space outside of the home, even for small businesses or entrepreneurs. If you are looking to rent office space in Overland Park, start doing some research to find out which spaces best fit your needs, your goals, and your budget.

If your business is interested in commercial office space for rent in Overland Park, KS, give us a call at 913-685-4100 for more information about our available spaces and what amenities are available both in the space and in the local community. You can even set up a tour of a Kansas office space for rent to see for yourself!

How Do I Sublease My Commercial Property in Overland Park KS?

Before talking about some concrete steps to take when you want to sublease your commercial property in Overland Park, KS, it is good to consider why a business would want to sublease a space in the first place. Here are a few reasons businesses sublease, as outlined in the article “When and How to Sublease Office Space You’ve Rented”:

Relocation – A business has decided that it is time to relocate to a new commercial office space for rent in Overland Park, KS, for reasons such as proximity to suppliers or clients, tax incentives, or new market opportunities. If there is still a lot of time left in the lease, the company might be better off subleasing rather than terminating rather than terminating the lease.
Growth – A company has simply grown to big for the space and needs to move, but the lease term isn’t over yet, in which case, again, it might be a better financial decision to sublease than to break the lease.
Downsizing – On the other hand, a company that has to downsize might also need to move to a smaller office, or simply sublease part of their existing space.
Bankruptcy – If a company goes out of business, subleasing a space is one way to salvage some of their finances.
Merger or Acquisition – In this event, a company might have to give up their space, and it might be financially wiser to sublease.

There are many pros and cons to subleasing, but for a lot of businesses that find themselves in unexpected situations, it might be one of the only ways to not pay the penalty of breaking a lease outright.

If your business is thinking about subleasing, here are some steps to follow:

Read the Lease. If you know you are definitely leaving a space, make sure you first comb through the lease to see if there is any way to terminate it without penalty (i.e. if you give a certain amount of notice). If you do decide to sublease, make sure that your lease allows it and review what terms you have to follow.
Assess Your Space. Before you start looking for a tenant, make sure it is actually practical to sublease, especially if you are only subleasing a part of the space. Think about entrances and exits, parking, and what kinds of operation the space is suited for.
Talk to Other Tenants. See if any neighboring tenants want to expand into your space, which would make the proceedings, especially moving, a lot simpler for all parties.
Advertise and Interview. If you don’t have any luck with neighboring tenants, its time to let the local business community know that you are looking for a tenant to sublease. Once you have a few interested parties, take the time to interview them to make sure they will comply with your requirements. If it’s a fit, then it’s time to draw up a contract and sign!

These steps are important if you are thinking about subleasing your space, but even if you are just looking at a new Kansas office space for rent for yourself, think about the possibility of subleasing down the line and how you can build that into your lease.

If your business is looking for an office space for lease in Overland Park, KS, give us a call at 913-685-4100 to learn more about our available office spaces for rent in Overland Park, KS!

6 Questions To Consider Before Leasing Commercial Real Estate In Overland Park

Managing lease negotiations for commercial real estate in Overland Park can be a hassle if you aren’t schooled in the technical language that is used between brokers and property management. To better prepare yourself for this process and make sure you understand what you’re getting yourself into, here are a few questions to consider before signing your lease, as outlined in “10 Things to Consider Before Leasing”:

Is the space in the right area of town? Did you want to be next door to amenities that you need or closer to other like-minded businesses? Particularly if you are a new business, it is also important to consider your image, which your neighborhood can have a big effect on.

How will the parking be handled? Parking is definitely something that can be forgotten about when dealing with larger more important situations during lease negotiations. However, parking isn’t something that should be pushed to the side. Customer, employee and handicapped parking are all different aspects of parking that you should discuss with the landlord.

Do I know who is responsible for what costs? Leasing companies and brokers often use terms that are a bit unfamiliar to a business new to the world of commercial real estate. So when looking at a potential rental space, it is a good idea to go over the various expenses associated with a space and the property to figure out what exactly you are paying when you sign that contract.

Does this space have the amenities I’m looking for? When you are looking for an office rental space, it is a good idea to ask questions about the features and image of the building. Does it have everything you want in your commercial space? For example, are you concerned about an eco-friendly environment or the importance of clients feeling comfortable when they arrive? There are things that you might be interested in knowing about before signing your lease, and can also be confirmed by a thorough tour of the space.

How much space do I need? A good idea for any new business owner is to realize how much space you need right away to run a successful and thriving business. The best way to go about doing this is to stick to your budget and what feels right for your business. Remember to also factor in the potential growth of your business.

Can I improve or build out the space? If a space isn’t exactly what you want it to be yet, that does not mean that it is off the table entirely. Talk to the landlord about whether or not you can build out the space or customize it in other ways. Make sure you clarify who will be responsible for those expenses, what permissions you need, and whether you have to return the space to its original state at the end of your lease.

There are a lot of factors and decisions that go into finding the perfect commercial office space for rent in Overland Park, KS, for your business. Be sure to know what you are looking for and be prepared to negotiate for it!

If you are looking for office spaces for rent in Overland Park, KS, give us a call at 913-685-4100 for more information about our available Kansas office space for rent!

10 Commercial Real Estate in Kansas City Terms You Should Know

10 Commercial Real Estate in Kansas City Terms You Should Know

When you are looking for commercial office space for lease in Kansas City, the best place to start is to familiarize yourself with leasing terminology. Here are a few terms to become acquainted with before going in search of your perfect office space, as outlined in the article “Typical Leasing Terminology”:

Lessee. The individual or business who leases the property, also known as the tenant.
Lessor. The owner of the property, referred to as the landlord.
Rent Rate. The rent rate is listed for a space on a per square foot basis. Be sure to clarify whether the listed rate refers to rentable or usable square footage.
Gross Rental. In a gross rental lease, the tenant’s rental payments cover all services, such as insurance, property taxes, and often some maintenance services. This type of lease is different than a net lease, which charges for each of these expenses separately.
Option to Renew. This is a clause that a tenant can negotiate into the original lease, which allows the tenant to renew the lease before it expires at a pre-determined rental rate. This option is especially useful for tenants who are not sure where they will be in a few years, as it gives them the option to extend their stay or move on if they have outgrown the space.
Rent Free Period. Many landlords offer this as an incentive to tenants, which can go into effect at the beginning of the lease or be spread out through the course of the lease, depending on the negotiated terms.
Date of Possession. This is the date agreed upon in the lease when the tenant officially begins their occupation of the premises. Starting from this date, the tenant assumes liability for anything that might happen in the space.
Property Maintenance. The tenant is typically responsible for maintenance costs both inside their space and in common areas of the building. However, the landlord or property owner generally is responsible for the maintenance of the outside of the building.
Assignment. This clause allows a tenant to pass their lease on to another tenant for the rest of the lease term, usually because the original tenant needs to leave the space due to financial difficulties. The choice of a new tenant is subject to the landlord’s consent. Potential lessee’s should consider trying to negotiate for this clause to be included in their lease to protect themselves in the event of financial difficulties.
Novation. In this situation, an entirely new tenant moves into the premises before the end of the original lease and draws up a new lease directly with the landlord.

Before you start looking for commercial real estate in Kansas City, take the time to familiarize yourself with the vocabulary of the commercial real estate market. This will help make the process of finding a Kansas City office space for rent feel much more in your control.

If you are looking for commercial office space for rent in Overland Park, KS, give one of our commercial real estate agents in Kansas City a call at 913-685-4100 to find out more about our available spaces and commercial property management in Overland Park, KS!