commercial real estate broker in Kansas City

5 Tips for Beginners Renting Office Space in Kansas

Renting commercial real estate to be a daunting task, especially for those new to the commercial real estate market. However, this process doesn’t have to be so intimidating, especially if you are willing to do a little research and take your time to be thorough about the process. Here are a few tips to keep in mind as you begin to search for the perfect commercial office space, as suggested in the article “A rookies guide to renting a commercial office”:

#1 Location

It is essential to search for space that will be both central and accessible to customers or clients. If you’re located far from them, they’ll be less likely to come in for the kind of informal meetings that build relationships. If you hope to set up a new office that would be a great space to meet with customers, this effort could be thwarted by a poor location. It is also important to keep in mind your staff when choosing a location. Consider proximity to public transportation such as the train or bus line. Easy access will also give you a larger base of applicants to choose from when seeking employees, because if an office is off the beaten track, less people will be likely to apply.

#2 Money

The bottom line question to ask yourself when looking at office space is can I afford it. The main factors that influence price include the quality of the building, it’s location, and its view or natural light. Properties closer to public transportation also tend to have higher rental rates. In addition, a modern building will most likely be more expensive, with the exception of heritage style buildings that have been remodeled, which tend to attract a lot of creative tenants. A building with a view of water might also have a higher price tag.

#3 Size

The size of your space will most likely be influenced by the number of employees you have. The common rule is to plan on 10 square meters per staff member. This number factors in meeting rooms, utilities, and a small reception area. However, remember if you have large break areas, kitchens, or other amenities, this number will most likely increase. Your business might also consider adopting an unconventional workspace layout that would involve different requirements.

#4 Set-up costs

Don’t forget to plan for set-up costs when determining your budget for an office space. Landlords typically require some sort of security deposit for the space, but you might be able to negotiate this number if you can supply financial proof to the landlord that your business is stable. Remember also that you’ll most likely have to pay legal fees as well as insurance. You will also need to be ready to pay the first month’s rent in advance.

#5 Lease Incentives

Often landlords offer incentives to appeal to tenants. These are usually on a case-by-case basis and often are offered to tenants of larger office spaces. Incentives might also depend on the term of your lease, the available space in the building, and your particular type of business.

Renting an office space can be relatively painless with a little research, enough time, and some common sense. Make sure to work with a commercial real estate agent that you truly trust and ask him or her to show you all available options. You can then compare many spaces and make an informed decision.

If your business is interested in office suites for rent in Kansas City, give a commercial real estate broker in Kansas City a call at 913-685-4100 to learn more about our available, affordable space or to set up a tour soon.

3 Important Parts of a Small Office Lease in Kansas City

The goal of every tenant looking for commercial real estate is to find the best space for the least amount of money. Tenants look for something that will meet all of their needs, but will also fit in their budget. In order to achieve this aim, potential tenants need to understand what drives the cost of commercial space and how to deal with each of those costs. Here are the three most important factors that affect the cost of an office space, as suggested in the article “3 Tricky Things in an Office Space Lease”:

Location
The layout of an office space
The structure of the lease and negotiations

Understanding the relationship between these three things is the best way to effectively plan for acquiring an office space lease. Most failures to get a good space are usually the result of not dealing with one of these factors properly. There are so many hidden items in leases that if not handled correctly can really add to the cost and office space. One of the best ways to minimize these these costs and improve your chances of negotiating a good lease is to seek the expertise of a professional during the leasing negotiations – someone who can explain the nuances of each of these major factors.

If you are just beginning the process of leasing your first office space, consider these three factors and talk to an attorney or agent about what you want!

Give a commercial real estate broker in Kansas City a call at 913-685-4100 if your business is interested in office suites for rent in Kansas City.

The Tenant Benefits of a Renewal Option for an Office Space Lease in Overland Park

Negotiating a renewal option is crucial for a tenant. Landlords benefit very little from these clauses, but for a tenant they can mean leverage in future negotiations and more favorable terms down the line. Here are a few of the benefits of renewal options, as suggested in the article, “Negotiating the Renewal Option”:

A good renewal option protects you from circumstances in which other tenants in the property might want your space. You can negotiate to still have first rights to the space even if the other tenant will pay a higher rate or a larger tenant wants to expand into your space.
A renewal clause is essential in the event that you have to invest a lot of money in making improvements to space, because a move would result in the loss of that money.
A solid renewal cause is a good way to put a cap on the rental rate for another lease term.
Your renewal clause can also protect you from unfavorable market conditions in a few years, especially if you have negotiated in detail your renewal rental rate.

Don’t forget about the importance of this renewal option as you negotiate your primary lease. It might seem like thinking too far ahead, but this foresight could save your business a lot of money in a few years.

If your business is interested in Kansas City office space for rent, give a commercial real estate broker in Kansas City a call at 913-685-4100.

Understanding 5 Options for an Office Space Lease in Overland Park

There are several types of commercial leases to be aware of—here are the definitions for five of them, as outlined in the article “Lease Types Defined”:

1.Full Service (FLSV) – A lease in which operating expenses and property taxes are included in the stated rent.

2.Triple Net (NNN) – A lease in which the tenant pays a fixed rent rate, as well as other property lease expenses including taxes, maintenance, insurance, utilities, etc.

3.Full Service Except Janitorial (FLSVEJ or FSEJ) – Similar to a full service lease, except the janitorial services are not included in the rental rate.

4.Gross – A lease in which the listed rent covers taxes and operating expenses. This is essentially the same as a FLSV lease and the opposite of a NNN lease, and it is the most uncommon type of commercial lease.

5.Modified Gross (Mod Gross) – Somewhere between an NNN and Gross lease—some expenses are included, but things like utilities are most likely the tenant’s responsibility, but even utilities could be combined depending on how things are metered in the building.

If you are looking into commercial leases for your business, it is important to understand what each of these lease types mean and what kind of payment would be most cost efficient for your business.

If you are interested in finding out more about commercial realty in Kansas City, give a commercial real estate broker in Kansas City a call at 913-685-4100!

5 Ways To Grow Your Small Business in Your Kansas City Office Space

While many people attempt to start small businesses, it takes more than just the initiative to strike out on your own to maintain a successful small business. Check o out these tips for succeeding in the small business world from other businesses that have found success, as outlined in the article “Helping Your Business Grow Series”:

1. Be Unique. Find your niche in the business world—there is no point in doing something that someone else is already doing well.

2. Hire Smart. Practice mindful employment. Assess the gaps in your business and work to employ people who have the skills to improve your business in these areas.

3. Innovate. The key to remaining unique is innovation. If you are successful, other businesses will try to imitate what you do, but consistent innovation will keep you at the head of the pack.

4. Be Proactive. Don’t wait for opportunities to come to you. If you find a gap in the market that your business could fill, do it before someone else gets there!

5. Build on your Strengths. Focus on what your business well and continue to find ways to do it even better.

The key to small business growth is consistent hard work and creativity!

If your business is interested in a small office lease in Kansas City, give a commercial real estate broker in Kansas City a call at 913-685-4100.

5 Tips for Growing Your Small Business in Your Kansas City Office Space

It is important for small businesses to not only focus on getting through the day-to-day work routine, but to also constantly keep looking for ways they can continue to grow their business. Here are some tips for growing your small business, as suggested in the article “Helping Your Business Grow”:

Work ON your business. Do not just get in the habit of working in your business—take some time to step back and figure out what is going well and what should be improved.
Be positive. Keep your work environment positive; make sure it is a place employees look forward to coming to every day, versus something they dread.
Take a breather. It is okay to step away every now and then to rest and rejuvenate so that you can return with full energy and enthusiasm.
Build relationships. Strive to develop strong relationships with your coworkers and other businesses you work with. Make sure that goals are clear and consistent.
Keep an eye out for new opportunities. Even if you aren’t really looking for anything in particular, it is important to be open to new opportunities, rather than looking back and regretting missing something.

Don’t let your business stagnate because you’ve lost focus on developing it!

If you are interested in a small office lease in Kansas City, give a commercial real estate broker in Overland Park a call at 913-685-4100.

The Benefits of Teamwork in a Kansas City Office Space Environment

More and more lately companies lately have been shifting to the mentality that teamwork is essential to success. Whether it is a sales team working together to strategize, teachers sharing lesson plans, or Google employees tossing around ideas about the most cutting edge technology, most business can benefit from the positive effects of teamwork. Here are just a few of the ways that teamwork can benefit your business, as suggested in the article “Building a Sense of Teamwork Among Staff Members”:

Better Productivity – if employees are working together to divide up tasks in the most efficient way possible, they are going to be able to get more done.
More Problem Solving Power – as the saying goes, two heads are better than one.
Improved Use of Resources – this could even be the mental resources of the people themselves—if someone is particularly good at wording communications with clients, why not put their talents at the disposal of others in the office?

There are also benefits to the well being off your office that teamwork offers:

Socialization – people are more likely to get to know one another and enjoy each other’s company when working as a team.
Learning – employees can learn from the skills of their coworkers.
Motivation – teamwork can unite a people behind a sense of purpose.

Consider what you can shift in your workplace to make projects more team oriented!

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

10 Ways to Develop You Small Business Image in Your Overland Park Office Space

Developing your brand and image as a business can be a crucial step to making sure your start-up business continues to take off. Brand image can be approached from a variety of angles, from customer service, to advertising, to going back to the core values of your business. Consider these tips, suggested in the article Ten Tips to Help You Build and Grow a Stand-Out Small Business Brand when approaching the task of making your brand more appealing:

#1 Be Unique

Think about what makes your business different. How do you stand out from other similar businesses in your industry? Be sure to market what it is that sets your business apart.

#2 Understand Your Brand

This extends beyond your logo or products. Your brand is the overall experience f your customers, and includes your customer interactions, social media, marketing, visual elements of your business, and how you do what you do. All of these elements should work together to present a positive image of your business.

#3 Get the Right Logo and Name

This is important for getting customers to consistently recognize your business, so make sure a name and logo reflects what your business does and is appealing to your customer base. They should also convey the personality of your business and what you stand for—it is a lot to wrap into a name and logo, but it is worth the careful consideration to find something that will really appeal to your customers.

#4 Let Your Customers See Your Face

Don’t leave your small business to run itself. Keep your employees motivated and your business structured by staying actively engaged. There is a balance to be maintained – your business should be able to be productive without you there at all times, but businesses tend to be more successful when employees can thrive off of your energy and customers can associate a face with a service.

#5 Develop a Voice

One way to distinguish yourself as a unique brand is to develop a consistant and recognizable “voice” – the tone of your interactions with customers in person, via social media, or on the phone. To decide what your voice is, think about brands that you like and would like to learn from – what do they do that makes doing business with them enjoyable?

#6 Be Your Own Biggest Fan

Success is not always about being the best salesman; sometimes a better form of sales is being the most excited about your own business. Be an advocate for your brand by showing your passion for your business and spreading that enthusiasm. Make sure customers and employees understand the story behind your business, what makes your mission and products special, and what you have been able to do for people.

#7 Build a Community

You want to be the kind of brand that customers trust and respect, and building a community can be an alternate kind of advertising that fosters this type of business reputation. Many companies spend a lot of time and energy developing a community both online and off through resources like Twitter, Facebook, or blogs, as well as participation in local activities such as fundraisers, charities, or planning and hosting their own events. It is important both to develop a following on social media and to also be a recognizable presence out in the community.

#8 Decide What Your Value Is

Your value might be some sort of emotional benefit to your customers that sets you apart from your competition. What is your unique angle on your industry? What is it that you do well that differentiates you? Think about how you value things like product quality, innovation, customer service, or some combination of values.

#9 Develop a Reputation for Reliability

Most importantly, live up to what you say you will deliver. Failing to do this can be a surefire way for a small business to flouder, since they are particularly dependant on referrals. Ensure that you have happy customers—who will be loyal customers—by making sure that you can keep all promises that you make.

Cultivating a brand image for your business with a positive reputation takes time and a multi-faceted approach. It is important to not only have values and a vision for what your business can be and do, but to embody those values yourself as a business owner and be consistent in carrying out that vision.

If you are interested in commercial space for lease in Kansas City for your small business, give a DDI Commercial real estate broker in Kansas City a call at 913-685-4100 a call today to set up a tour of one of our spaces. If you are not sure what you are looking for yet, we can also talk to you about our variety of available spaces and help you calculate square footage for your business’s needs!

3 Kinds of Overland Park Office Space Leases

There are many different types of commercial real estate leases, so it is important to familiarize yourself with each type and what they mean in terms of rental rate before signing an office space lease. These leases can be distinguished by rent calculations and how expenses are factored in. Here is an overview of the three major types of leases and some of their variations, as outlined in the article “Types of Commercial Real Estate Leases”:

#1 Gross Leases

In a gross lease, also called a full service lease, your rent covers all of your expenses. The landlord is responsible for taking care of costs like insurance, taxes, utilities, and maintenance, the costs of which are covered by tenants’ rent.

If you are considering a space that offers a gross lease, you should find out what services are provided and the frequency of those services. While it might sound convenient to have the landlord handle expenses, sometimes things like inefficient energy consumption could end up coming out of your pocket. The upside of a gross lease is that you know exactly what your expenses will be for the month or year, rather than worrying about unexpected maintenance expenses, which ultimately leaves you with more time to focus on your business.

#2 Net Leases

There are a few different types of net leases, but in general net leases involve a lower rental rate for the space with tenants paying additional charges for extra expenses to the landlord such as maintenance, operations, taxes, insurance, or shared services such as trash pick-up, water, sewer, parking lots, landscaping, fire sprinklers, etc. Here are a few common types of net leases:

Single Net Lease – In a single net lease, tenants pay a base rent plus a certain share of the building’s property tax that is proportionally based on how much space the tenant occupies. The landlord is responsible for all other building costs beyond that, except for janitorial services and utilities, which the tenants pays for themselves for their own spaces.
Double Net Lease – In a double net lease, tenants pay for a share of both taxes and property insurance on top of their base rent, and the share is based on how much of the space the tenant occupies. The tenant is also responsible for utilities and janitorial services, but the landlord takes care of other expenses such as repairs and maintenance of common areas.
Triple Net Lease – A triple net lease is the most common type of lease for retailers and freestanding commercial buildings. Also called the NNN lease, in this lease the tenant covers three things besides their base rent: taxes, insurance, and common area maintenance fees. Often utilities for common areas and operating expenses are included as well, such as the cost of a lobby receptionist. However, this is still not quite a full service lease, because tenants still take care of expenses in their own space, such as janitorial services and utilities. Again, the percentage that a tenant pays is based on the amount of space they occupy in the property. These leases tend to favor landlords, so carefully review the fees you might have to pay and try to negotiate for caps. The expenses for these leases can also fluctuate from month to month or year to year, so bear in mind that it might be tricky to predict costs. However, base rent for an NNN lease space might be lower than for a full service lease, because you will have more responsibility in taking care of the building.
Absolute Triple Net Lease – In this lease, which is more rare than triple net leases, a tenant is responsible for expenses in the case of every possible real estate catastrophe, such as rebuilding after a natural disaster or paying rent on a condemned building.

#3 Modified Gross Lease

The modified gross lease is a compromise between the landlord-friendly net lease and the tenant-friendly gross lease. This lease, which is also sometimes called the modified net lease, includes several of the “nets” in the rent—usually insurance, taxes, and CAMs—but leaves the tenants responsible for their own janitorial services and utilities. In this lease the tenant and landlord must negotiate ahead of time what expenses are covered in the rent. Tenants tend to favor this type of lease because they know their rent will still be the same even if insurance, taxes, or CAM costs fluctuate, but at the same time they can control themselves what they spend on things like electricity and janitorial services.

The bottom line when looking at any lease is to keep an eye out for all types of expenses and how exactly you will be responsible for them.

If you are interested in learning more about Kansas City office space for rent, give a commercial real estate broker in Kansas City a call at 913-685-4100!

What is the Benefit of Working With a Commercial Real Estate Broker in Kansas City?

A lot of businesses, especially small start-ups, find themselves faced with the question of whether or not to hire a commercial real estate broker to help them find and lease an office space. Since the commercial leasing process can be long and requires attention to detail, there are a lot of benefits to working with a broker. Here are some questions you might have if you are thinking about hiring a commercial real estate broker, as well as suggestions for how to navigate this process, as outlined in the article “Commercial Real Estate: What You Need to Know Before Leasing”:

Why Should I Work With a Broker?

Commercial real estate is a different animal than residential real estate. It can be a challenge to even just find out what spaces are available. There are also a lot of zoning restrictions to deal with. Commercial real estate brokers can help give you an insider’s view of these nuances, and given that often it is the landlord who pays the broker’s fee, there is really no major reason not to take advantage of this resource.

How Do I Choose a Commercial Real Estate Broker?

The first criteria for choosing a broker is looking for a tenant broker, as tenant brokers specialize in working with potential lessees, versus agents who represent landlords. Tenant brokers typically want you to sign a representation agreement, which makes them the exclusive person who can show you the property. It is not a bad idea to sign this when looking for a small space, as it gives the broker an incentive to find you a great space. However, if you are looking for a larger space where commission is involved for the broker, you might not want to limit your broker options with a representation agreement. If you find yourself in a small town that does not have any commercial real estate brokers, you can still take the reins on your leasing process by going through public tax records to find building owners and contact them directly.

Where Can I Find Commercial Real Estate Brokers?

Once you have decided to work with a broker and you know what you are looking for in a broker, the next step is actually finding one. If you are already working with a commercial real estate attorney on your lease, they should be able to recommend several brokers for you. If you are not working with an attorney, talk to other people you know who have rented commercial property and are pleased with their leases to get a referral. You can also use the internet to find lists of large commercial real estate firms.

What Are the Potential Downsides of Working With a Commercial Real Estate Broker?

There are a few potential pitfalls to keep in mind when deciding to work with a broker:

Brokers do not focus on pointing out terms in your lease that you should negotiate or could be bad for your business.
Commission for brokers is based on the percentage of the lease cost, so brokers will most likely try to push the more expensive spaces.
In general, be aware that the less expensive your lease, the less attention you will probably get from your broker.

With these issues in mind, you might consider working with a real estate attorney as well who can help you with the nitty gritty lease details.

There are a lot of benefits to working with a broker, especially if it is your first time leasing, but be sure how to educate yourself on how to choose the best broker for your business and be aware of a broker’s biases and blind spots!

If you are interested in learning about office rental space in Kansas City, give us a call at 913-685-4100 to hear more about our available affordable office space in Kansas City!