commercial property overland park ks

4 Financial Terms You Need to Know When Leasing Kansas Office Space for Rent

Rent is not the only expense you have to plan for when signing a lease for commercial property in Overland Park, KS. There are a lot of different hidden costs and fees associated with a space, so make a list of questions to ask before you actually start looking at office spaces for rent in Overland Park, KS. Here are a few terms to be familiar with that can help you avoid being blindsided by major financial consequences down the line, as defined in the article “Three Things to Keep in Mind with Your Commercial Lease”:

Commercial Rent – This is the rental rate you will find on a listing. You will want to double check this when you visit a space to make sure that the square footage listed is actually usable square footage.
Effective Rent – This is the actual rate you will end up paying during your tenancy and includes factors like tenant improvement allowances, concessions, and escalations over the years. All of these things vary greatly by landlord and property, so you need to get an idea of what these are before truly being able to compare spaces. A commercial real estate broker can help you understand what is common for different markets, so they can be a valuable resource in determining the true bottom line rental rate of a space.
Escalation – This is the increase in rent per square footage your business could be charged after your base year of the lease (usually your first full year).
Expense stop – This is the means of determining escalation; the expense stop is the amount that the landlord pays towards operating costs of the building, and anything beyond that will be charged to the tenant in the form of escalation following the base year.
Tenant Improvement Allowances – This is the amount a landlord might allocate for major improvements to a space, which are becoming more popular in the era of creative zones, cafes, and collaboration rooms. As you’re thinking about your TI, make sure you think about whether you or the landlord ultimately has ownership of the improvements. Don’t invest so much in your space that you are at a disadvantage when lease renewal negotiations come, or negotiate upfront a lease structure that will allow you to best take advantage of these improvements.

Being aware of all of these financial factors is a crucial prerequisite to signing a lease. Not only do you need to make sure that your business has the budget for a particular space, but knowing these different variables will help you more accurately compare spaces to get the best deal possible.

Working with a broker can really help you understand these costs in commercial space for rent in Kansas City, particularly how the market in a certain area affects them. Make sure that the broker you are working with is actually working for you and is not representing the best interests of the landlord.

If your business is interested in looking at Kansas office space for rent, give us a call at 913-685-4100 to find out more about or affordable office space for lease in Overland Park.

Commercial Property in Overland Park, KS: What Science Has to Do With Your Office Design

Social science, behavioral science, neuroscience – all of these areas are relevant to your office space for rent in Overland Park, KS, design. Research into these areas is helping designers figure out what makes a truly great office space. If you are looking for office space for rent in Overland Park or simply considering some upgrades to your current space, check out a few key elements of office space design and the scientific research that supports them, as described in the article “The Science of Office Design”:

#1 Lighting

Most people know the effects of different lighting – for example, florescent versus natural. But the science behind these preferences can give us even more details to keep in mind while looking for or designing a space. Warm lighting, for example, can help give employees a cognitive boost and reduce stress levels. Interestingly enough, this is something airplanes have been starting to use to help relax passengers!

#2 Noise Levels

Acoustics most definitely affect productivity and creativity in the workplace. Scientists have actually been able to pinpoint that 70 decibels is the perfect balance between noise and quiet. Anything louder than that will be distracting; anything quieter will feel unnatural.

#3 Ceilings

It is almost too perfect to be true: scientists suggest that higher ceilings actually promote higher-level conceptual thinking, whereas lower ceilings are more conducive to mathematical thinking. So if you are in a line of work where you need your employees to make overarching connections and unleash their imaginations, that higher ceiling might be a good fit. On the other hand, if you need more contained tasks on a day to day basis, a lower ceiling might be a better option.

#4 Distance between things in the office

Something as little as how far you have to walk to another person’s desk can actually have an impact on how a business functions. There are also thresholds for this – for example, if you sit 80 feet or more away from a person, you are significantly less likely to interact with them throughout the day, and thus less likely to end up collaborating with them on work. Think about measuring desk distance in your office or strategically grouping desks to foster fruitful collaborations.

#5 Visibility

Along with distance, visibility is another factor in whether you will work with someone during your workday. If someone is in your line of sight and you get regular glimpses of them, you are more likely to interact with them during the day, and thus more likely to work with them on something.

#6 Nature

Researchers have long suspected the positive impact of nature on humans, but recent research really confirms how much of a positive effect nature can have on stress levels. Seeing plants, breathing fresh air, or having a view of the outdoors can strongly influence not only stress levels, but also performance. Research also shows that this nature has to be the real deal – just a video of nature has the same effect on employees as a blank wall!

It’s a simple truth: our environment affects our mental state, which in turn affects our performance as work. Whether you’re in the process of looking for commercial real estate in Olathe, KS, starting to think through the design of a new space, or simply considering some changes to a current office, there are big and small ways to implement these principles.

Not only will your employees feel more positive about their environment, but this translates to better productivity and will ultimately benefit your bottom line.

If your business is interested in office space for lease in Overland Park, KS, give us a call at 913-685-4100 to find out more about our available commercial real estate in Kansas City.

5 Tips for Renting Commercial Property in Overland Park, KS, in a Tenant’s Market

The Recession of the Late 2000s was certainly not an ideal turn for small businesses, but times of economic crisis do have on advantage for businesses: it is often a great time to hunt for office space for lease in Overland Park, KS. This has been especially true for small businesses, since larger businesses are downsizing and often subleasing spaces. For small business who act quickly, there is the possibility of being able to choose between multiple offers from landlords, and even leverage those different offers into negotiation power. Here are a few key tips for small business who want to take advantage of this renter’s market, as suggested in the article “6 tips for renting small business space”:

#1 Look for small Kansas office space for rent

One result of an economic downturn and a tenants’ market is more available spaces for businesses, but typically small ones. Landlords are looking for security and want to diversify their leases, so they are starting to look for a variety of small tenants rather than just a few big ones, which means they are splitting up previously big offices into smaller spaces for small businesses. This means the best deals are for small spaces, so keep an eye on that market and take advantage of investigating and comparing several options.

#2 Use your negotiating power

Never accept the listing price on a lease. Because landlords are especially hoping for higher rental payments in a tough economy, it pays to be on your guard for too-high prices. While you might not be able to get the rent itself lowered, you might be able to negotiation for concessions, such as an allowance for improvements or a period of free rent. This means the landlord doesn’t have to back down on the rates they are asking, but you can still get more value for what you end up paying.

Other things to negotiate for include a cap on annual increases (to protect yourself from inflation and rising rates), expansion options, management fees, and even bonus items like parking or snow-clearing services.

#3 Be picky about the lease term

While landlords generally tend to favor longer leases, in a tenants’ market you are much more likely to get the length you want, so don’t be afraid to ask. On the one hand, this could mean that if you are a startup business you have the flexibility of signing a short lease so that you are not stuck in the unfortunate event that your business fails or the fortunate event that you outgrow a space. On the other hand, if you foresee a stable future for your business, you have the opportunity to take advantage of long term cheap rent with a longer lease.

#4 Do your research on office spaces for rent in Overland Park, KS

One element of the research you should do is learning about your market. The best way to do this is to see a lot of different spaces so that you know what rates and amenities are out there and you can make educated comparative analyses – keeping track of details on spreadsheets is a good way to do this.

Another aspect of research is looking into the landlord of a property. Creditworthiness of landlords could be questionable in a rough economy, so it is important to know where your business owner stands. Are they in over their head with loans? Debt? You might find out a little more by running a credit check, as well as gathering some information from current tenants in the building.

Part of doing good research might also be working with a broker. In a tough economy, often landlord are willing to make a lot of concessions, and an inexperienced tenant might not even know to ask about certain things, like escalator clauses, more favorable termination terms, or mitigating personal guarantees. A broker can be in your corner and make sure that you don’t get taken advantage of.

#5 Be prepared for security deposits

Unfortunately, while a lot of aspects of leasing are favorable for tenants during an economic downturn, slack on the security deposit is not one of them. Landlords tend to be even more concerned about this because of the high level of risk. Not only are you concerned about your landlord’s credit trustworthiness, but they are extra concerned about how much of a risk you are. Be prepared to pay as much as 10% of your total lease as a security deposit, as well as submit a letter of credit or even offer a personal guarantee. This is especially important to landlords who make a lot of concessions, such as improvements or repairs to a space, because they don’t want to sink that money into a space only to get it back in just a few months.

Economic downturns are rough on small businesses, but for business owners who can read the market, they might just have long-term benefits in terms of cheap commercial real estate.

If your business is looking into commercial property in Overland Park, KS, give us a call at 913-685-4100 to learn more about what is available in our office park in Overland Park, KS.

Kansas City Office Space for Rent: Setting Up Your First Office Space

Finding and moving into your business’s first Kansas City office space for rent is a milestone worth celebrating. As a business owner, you are probably simultaneously thrilled with your growth and a bit intimidated by the unfamiliar process ahead. Here are a few tips to guide you through finding and setting up that first office space, as suggested in the article “6 Things to Consider Before Opening Your First Office”:

#1 Budgeting for your commercial property in Overland Park, KS

The first step to opening an office space is determining your budget, as this will be one of the most costly aspects of starting a business. Create a spreadsheet and include all of the different costs associated with opening an office space, from security deposit to the kinds of fees you will have to pay. Look for places where you can cut back on costs, for example, renting furniture.

#3 Size and location

When you start your search for an office space, two of the most important things to consider are size and location. Calculate exactly how much square footage you will need by envisioning how much space you want per employee, plus what kind of shared spaces you want (i.e. meeting rooms and break rooms).

Location can also make or break a new business. Consider the demographics of the area, the other businesses a location is near, the distance from your current clients, as well as little things like signage possibilities.

For a new business trying to find an office space for the first time, working with a commercial real estate broker can be really helpful. Brokers will know the area and the market, so if you can give them your cost, size, and location parameters, they can help you focus on spaces that meet all of those requirements.

#2 Office equipment for an office space for lease in Overland Park, KS

Buying office equipment can be one of the biggest items in your budget, so make sure you plan to get only what you need, and consider whether renting or buying would be better for your business.

Here are a few of the essentials to include on your list:

Computers. Businesses today need technology to thrive, so make sure you have the right computers and systems for your business. Look into systems for backing up data, for example online ones like Google Drive or Dropbox, which might be cheaper and easier than having on-site backup servers.
Internet. Computers these days are not much good without networks connecting them. Definitely make sure you have basic internet service, and decide whether you need to set up a network for within your business.
Multifunction Coper/Printer. Find one machine to do it all: copying, printing, faxing, scanning, etc.
Supplies. General office supplies like paper, pens, etc. might not seem like big budget item, but these things can add up. Plan for exactly what you need to function efficiently.

Beyond these staples, you should also look into mailing equipment or postage software to streamline your mailing process, as well as a shredder to keep any sensitive information from leaking out of your business.

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.

Renting Commercial Property in Overland Park, KS: How to Become a Successful Negotiator

Figuring out how to research, compare, and rent office space is something of a skill that you can acquire through practice. Negotiations are a major aspects of any renting, selling, or buying situation, and if you are looking to relocate to an office park in Kansas, read through these tips and tricks to make your search for commercial property in Overland Park, Kansas a quick and easy process, as suggested in the articles “Tips for Negotiating a Better Office Lease” and “Rules to Boost Your Negotiating Skills”:

Research. Prepare. Plan.

Try finding information about everything you need, including what the landlord is like, wo is paying your broker’s commission, and who your new office neighbors will be. Gather as much information as you can about other parties who are interested, tax records and past listings of the space.

Start Early Finding Commercial Real Estate in Overland Park, KS

Ideally you want to allow plenty of time to search for your new office space. Make sure that you have enough time to do you homework; that means going over leases, looking at other buildings, and negotiating the terms with your landlord. You should give yourself at least nine to twelve months before your lease term expires.

Ask for Better Provisions and Concessions in Your Lease

Another way to get the best deal when negotiating is to call for a cap on operating costs as well to seek out free perks from your landlord. It’s a good idea to limit an increase in expenses expenses such as cleaning and technical support to 5-10% annually. You might also try to negotiate for storage, extra parking and signage. Don’t be afraid to ask for perks and/or discounts.

Think Big Picture

Always remain objective when negotiating. Do not talk about the terms and conditions of one potential lease with a different landlord if possible. Try to only say that they are interested in renting the property and that you are exploring some other options. This usually helps avoid misunderstandings while still creating competition.

Prepare for the Worst Case Scenario

Understand the best and worst case scenarios when going over different options in a else. Hope that in most cases that the experience will be somewhere in the middle, but you want to protect yourself. Prepare with confidence and this will help create a much calmer negotiation process. Understanding that negotiations don’t need to be a tense, stressed and uncooperative situation helps with understanding your position and possible leverage and how to negotiate well.

Be Respectful During Negotiations and Tenancy

When people realize that you are a person who keeps your word, you have an added edge in your negotiations. Follow through with your promises, show up on time, do what you say you will, and call when you say you will. If you do this, it could set you apart form others in the market place. However, it is also a good idea to avoid personal guarantees or lease provisions that you can’t actually keep. Nothing is worst than being known as someone who can’t keep their promises.

There’s really nothing like negotiating. Practice makes perfect and using all these skills doesn’t make a great negotiator overnight. Keep trying and make sure that you know what you want, and when it is okay to compromise.

If you are interested in office spaces for rent in Overland Park, KS, give one of our real estate agents a call at 913-685-4100 and we can set up a tour of one of our Kansas office spaces for rent!

Commercial Property in Overland Park, KS: Overlooked Costs and Ways to Save

Before you take the leap of signing a lease for commercial property in Overland Park, KS, the biggest question you should ask yourself is whether your business is financially prepared for this commitment. This means more than just being able to pay monthly rent, because there are so many more costs associated with commercial office space for rent in Overland Park, KS. Here are some hidden costs to be prepared for, as described in the article “Worried About Hidden Office Space Costs?”:

Rent Increases. Most leases for Kansas office space for rent stipulate that the landlord can increase rent annually as their operating expenses rise. These expenses cover things like maintaining the building, labor and materials costs, etc. It is important to avoid this sneaky clause from being a financial nightmare by negotiating so that the landlord can’t raise your rent over a certain percentage each year, or has to base the increases on an objective market index.
Taxes. Some leases require tenants to pay property taxes each year. If this is the case for your lease, double check that the percentage you are paying is in proportion to the amount of space you are renting in the building, and not more.
Pre-existing Condition Clauses. Look carefully for this clause in your lease, which states that your office has to be returned to its original condition when you move out. This means that if you made any improvements or additions to a space – walls, lighting, paint, etc. – you might have to remove or reverse those changes, which could be an expensive undertaking.
Maintenance. Building maintenance costs are passed along to all tenants in some way or another, whether it is built into the rental rate or is an additional monthly fee. Make sure you know what these costs are upfront and build them into your monthly budget.
Improvements. While you might have control over optional improvements, some upgrades you might be required to pay for – like a new sprinkler system or parking lot accommodations that meet the standards of the Americans with Disabilities Act.
Electricity. Some landlords conduct yearly electrical surveys to get an exact number for how much electricity your office uses, and then use this to determine how much to charge you for electricity. However, some firms who provide this surveying service base the measurement on what your office would consume if all of your equipment was operating at full capacity. This kind of measurement results in inflated numbers and unexpected costs.

While these are some of the things that could sneak up on your business’s budget, fortunately there are also some ways to save money in the leasing process without cutting corners. Here are some tips to keep in mind, as outlined in the article “8 Ways to Reduce Costs when Finding an Office Space”:

Evaluate lease length options. Lease length is always a tricky aspect of negotiations and can have huge financial implications. The ideal situation is a shorter lease for new businesses, but try to give yourself a lot of options. Do you have an option to renew? What about subleasing or assigning the space? Ask a landlord these questions ahead of time, and factor the answers into your comparisons between spaces.
Create competition in negotiations. A little bit of competition between different landlords is a good way to raise the stakes in your negotiations and potentially get a better deal – whether you are negotiating a lease for the first time or re-negotiating your current lease. Let potential landlords know that you are looking into different options, but be careful not to reveal too many specifics.
Give yourself time to look. You never want your negotiations to be rushed by the impending deadline of an expiring lease. Give yourself plenty of time to search for new spaces – at least six months for small businesses and even more for larger ones.
Plan your space. Don’t wait until after you move in to think about what your ideal space design is. Thinking only in terms of square footage can be counterproductive if a space can’t be used efficiently to meet your business’s needs, so the current layout of a space and the usable square footage should also factor into your comparisons.
Assemble your own teams. Brokers, attorneys, architects and other professionals should all be picked by you so that you know that they are working solely for your business’s interests.
Negotiate for flexibility. A general good rule of thumb is to build in some room for flexibility and unknowns into your lease. Business can go up and down, and there are other extreme factors to think about that are beyond your control, like a natural disaster or the condemnation of the building. Build yourself an exit strategy if you can, and try to minimize the damage to your finances in any given situation.
Remember improvements. If you know you want to do some construction or a build out on a space, that should be factored into your bottom line moving cost as you are comparing spaces. Start seeking out competitive bids from contractors ahead of time so you can really see what you will be getting for a space.
Look at the big picture. Your costs and benefits in a lease encompass much more than your monthly rent. Think about other incentives a landlord offers, such as help with build outs or improvements, breaks on rent, or allowances for relocation, as well as any costs not directly covered by rent – maintenance, taxes, etc.

Renting a new office space is a big financial commitment for a business, especially a small business. Find out in advance what all of your costs are going to be, and be proactive about ways to save a little money without sacrificing what’s important to your business. Seek help where you need it – a good broker or a trusted contractor can be an invaluable ally.

Is your business interested in an office space for lease Overland Park, KS? Give us a call at 913-685-4100 to find out more about our available office spaces for rent Overland Park, KS, and even set up a tour!

Kansas Office Space For Rent: 4 Parking Questions to Answer

While parking might not seem like a top priority in your search for office space for lease Overland Park, KS, it does merit some consideration. This easily forgettable necessity can impact the number of customers who can access your building, so if you are looking for Kansas office space for rent here are a few ways that you can make sure your parking needs are met at your commercial property in Overland Park, KS, as suggested in the article “Transportation Options for Office Spaces”:

#1 Is there enough parking for employees?

One thing that absolutely can’t happen is not having enough space for employees when you move into your new office space. No employee wants to drive around the block a few times looking for that precious spot that just opened – only to realize it’s too small. This is not the way to start strong in a new space, and might mean the loss of valuable employees if you can’t address the problem quickly.

#2 Is there enough parking for customers?

Whether you are the kind of business trying to attract new walk-in traffic or you only need visitor parking so that clients can drop by as needed, you will still need to make sure parking space is always available so that new clients feel welcome and old ones feel that it’s no trouble for them to stop by and speak to you face-to-face. Having a limited parking that is mainly taken up by either employees or other pedestrians going about their shopping could drive these visitors away.

#3 Does the amount of parking space allow for growth?

If you are a new business, you might want to keep growth in mind – both in terms of parking for your employees and for potential clients. It is easier to make arrangements inside a property to expand your actual office space, but parking capacity has a more definite limit, so keep that in mind in your initial lease negotiations. If you do think you might need more parking space, here are a few different options you could consider:

Do any employees bike to work? Some might be interested in this possibility if they live nearby, you could consider offering incentives to encourage employees to bike to work.
Is there a bus or a subway/light rail station nearby? Again, this might be another thing you could incentivize for employees to allow for more parking space for customers.
Are there other nearby parking facilities? Any potential for the development of some in the next few years?

#4 Is the parking lot accessible?

This means both in terms of being easy to find and turn into, and easy for disabled customers or potential customers. Ideally, a client shouldn’t have to deal with a mess of one way streets and U-turns to get into your parking lot, or they just might not bother. You should also ask your landlord if the property meets state requirements for disabled parking and offers easy wheelchair entrance into the building.

Parking does involve a few different points of consideration, so make sure to have a conversation about it with your landlord as you negotiate your lease.

If you are looking for commercial office space for rent Overland Park KS, give one of our commercial real estate agents a call at 931-685-4100 to set up a tour of one of our office spaces for rent overland park, KS.

6 Guidelines For Finding an Office Park in Kansas for Your Startup Business

Finding the right commercial property in Overland Park, KS, for your new startup company can be a big undertaking for a young business. Here are a few tips to follow to guide you as you look for a space that is comfortable and will allow you to grow, as suggested in the article “5 Tips for Finding the Perfect Startup Office Space”:

1. Look for a Good Landlord.

When narrowing down office spaces for rent in Overland Park, KS, make sure that you have a good landlord who understands your professional goals and needs for the office. It’s always a good idea to work with a landlord and find out how they respond to certain issues and how they feel about repairs that the office would need. A good idea is to contact previous tenants to get a good picture of what it’s like to work with that landlord. Make sure to discuss any issues or problems you might have with the space so that you can discuss them with the landlord before signing.

2. Be Ambitious…

Ambitious projects are always a good springboard for ideas and growth in all aspects of business, so definitely apply this attitude towards finding your own space – dream a little about the growth you anticipate and what kind of design, decor and setup would really take your business to the next level.

3. …But Be Realistic.

Thinking big is a great way to get ideas flowing, but obviously it’s also necessary be realistic. Consider the possibility of making expansions and growth, but also look into what your exit strategies are if you do not meet these targets.

4. Location Is Key.

Location should be the first thing you think about, so before you work on anything else make sure you know where you want to have your office space. T There are two different ways of going about this, depending on your staffing concerns: If you have team of people you are working with already, it might be a good idea to pick a place where they can commute to easily. If you are looking to recruit talent, make sure you have a location that is ideal for attracting potential employees.

4. Know What You Can Change.

You should want your office to be reflective of your company culture and what kind of work you want to do there. So if you know you want to tear down the drywall and install a new break room, make sure you run this by the potential landlord first. Having an idea of what you want your space to look like is good, but it is even better to make sure you have the landlord’s permission to do so first before you even sign the lease. A few things to double check before signing include making sure you can repaint, rewire and/or change anything other than the desk and chairs. This could save you a headache over remodeling in the long run.

5. Determine Your Ideal Lease Term.

Know how long you want to stay in space so that you can factor this into lease term negotiations. Ideally you don’t want to sign a long-term lease just in case your team grows quickly. A shorter lease makes growth easier and gives you more freedom in case you want to get out of your current lease. However, longer leases should be considered if the landlord is offering good incentives. but when in doubt a shorter lease is better for a smaller company.

With good research, some creative thinking, and careful planning, it is definitely possible to find the perfect office park in Overland Park, KS, for you and your new startup!

If you are looking for an office park in Kansas with a small Kansas City office space for rent, give us a call at 913-685-4100 to set up a tour of one of our small office suites!

4 Tips for Transitioning from a Home Office to an Office Space for Rent in Overland Park

Finding the right commercial property in Overland Park, KS, for your small business takes time and preparation, especially if it is your first time moving out of the home office and into a more professional space. Here are a few tips for making that transition to an office space for rent in Overland Park as smooth as possible, as outlined in the article “Business Tips: Renting a Commercial Office Space”:

1) Set parameters and consult expert help.

Understanding what your business needs and talking to a commercial real estate agent is a good way to figure out where to start with finding your new office. Working with agent might be more time consuming, but an agent will be able to direct you to a handful of spaces that will suit your needs, versus wading through that first round of selections on your own. Give the agent parameters based on location, space and budget; in other words, find where your office will be most likely to thrive, how much space you need, and how much you are willing to spend on the perfect space.

2) Create a detailed needs list.

Before you even start looking for your new space, think about what your company needs to grow. Make a list and make sure to include the big things and the details: space, location, parking, light/air control, communication, storage and reception. This will help you find an objective way to narrow down your options.

3) Distinguish between needs and wants.

As you make your list, be sure to distinguish between needs and wants. Needs are things that you should walk away from a space if it doesn’t have them, and wants can help you evaluate spaces in more detail and might tip the scales when choosing between two good spaces. Examples of wants include things like furniture, office supply, carpeted floors, and distance to local amenities.

4) Budget for the space and the move.

How much is the cost of the move? How much are you willing to spend for each year? Each month? These are some of things you should be thinking about when looking. Some things to consider when making this budget list is the deposit, rent, services, maintenance cost, new furniture and equipment, decorating the office, lighting, energy and security. Budgeting for all of these things is a good start to making the transition to your new commercial office space as painless as possible.

Moving out of the home and into a real office space for the first time is a big transition, but seeking expert help, listing in detail both what you absolutely need and perks that could set one space above another, and carefully budgeting can help you make the move to a new Kansas office space for ren t as smooth and efficient as possible.

If you are interested in moving your business out of the home and into an office park in Kansas, give us a call at 913-685-4100 to find out more about our office spaces for rent Overland Park, KS, and even set up a tour!

Commercial Property in Overland Park, KS: 6 Leasing Mistakes to Avoid

Leasing commercial property in Overland Park, KS, can be a big financial risk – one that is necessary and worthwhile, but one that can have serious and lasting consequences if not done properly. Research and planning are key above all else, but here are a few common leasing mistakes that tenants make to learn from as you start your own search for an office, as detailed in the article “10 Leasing Mistakes Office Tenants Commonly Make”:

#1 Going into leasing without a plan.

If you don’t have a good idea of your company’s space needs, you need to hit the breaks on you leasing process. Before you even begin to look at offices, have some hard numbers for what you need – square footage per employee, projected growth and the need for space that goes along with it, and what kind of space you want. Do you need open space with cubicles? A few conference rooms? An impressive reception area? These are all questions you should have a firm answer to before you look for a new space.

Make sure you also have a solid business plan in place, particularly if you are a new business leasing space for the first time. A lot of landlords will want to see your financial history or at the very least a professional and fact-based business plan as reassurance that you will be a reliable tenant.

#2 Not working with experts.

At all stages of the process of acquiring a new Kansas City office space for rent, it is important to speak expert help. This includes talking to a real estate broker, a legal representative who will represent your interests as a tenant, and an architect to help you plan for any modifications you need to make to a space. It’s tempting to cut corners and do things yourself, but if you are not an expert in any of these fields, you could be causing bigger financial complications for your business down the line.

#3 Not considering lease termination possibilities.

It’s strange to think about upfront as you are just starting out in a space, but you need to consider exit strategies before you ever sign a lease. This is particularly important for new businesses, who cannot afford to take a serious financial hit by paying rent during a rough patch. Terminating a lease is never good, but work with experts and negotiate with your landlord to try to mitigate consequences as much as possible. This requires some give and take, but most landlords are willing to allow for some kinds of relief possibilities, such as subleasing or reassignment, in the event that your business cannot afford the space.

#4 Not factoring in growth and the need to expand.

It was mentioned in the need for a plan before leasing, but it bears repeating: think about what your projected growth is and how much space your business might need in the next few years. It’s a risk to rent more space than you need, but being trapped in an office that is too small and does not allow you to develop can be just as detrimental to your business. Talk to your landlord about the possibility of expanding into other available spaces on the property if it becomes necessary, and try to opt for shorter lease terms with options to renew so you can consider after just a few years whether you have outgrown your space.

#5 Waiting too long for negotiations and a losing good offer.

Don’t leave negotiations until the last minute. These are so important, and you should not allow yourself to become set on a space until you are sure you can negotiate for favorable terms for your business – and the longer you wait, the more leverage the landlord has.

In addition, while you want to give yourself plenty of time to compare spaces and be prepared to walk away from an offer that is less than ideal, don’t wait too long on something you know is a great opportunity. If you find something good, hesitating too long could mean that you lose the opportunity to someone else, and then you are back to square one.

#6 Considering only the finances.

While budget is one of your most important factors, and you have to be prepared to walk away from even a dream space if it is way out of your price range, there are other factors to consider as well, such as the location of the space and the incentives a landlord is willing to offer. Remember that the most affordable office does you no good if your location will not attract new clients or your staff is unwilling to commute, so give yourself a price range to work within and then let yourself consider other merits of various spaces.

If you are starting the process of finding an office space for lease in Overland Park, KS, don’t fall into these common pitfalls!

Interested in commercial office space for rent in Overland Park, KS? Give us a call at 913-685-4100 to learn more about our available offices spaces for rent in Overland Park, KS!