commercial real estate broker in overland park

4 Mistakes For Entrepreneurs to Avoid in A New Kansas City Office Space

Any entrepreneur knows that starting a small business is a risky procedure. So many new businesses fail, often for simple reasons. Here are a few pitfalls to avoid, especially within your first year, as suggested in the article “4 Reasons Small Businesses Fail”:

#1 Finances

This is probably the largest and most obvious challenge for start up businesses. Even if someone has a great idea or product, people often underestimate how much money is required to get a business off the ground. Major expenses include start up costs, expansion, purchases for inventory, and fortifying your business. Carefully calculate the true bottom-line cost of starting your business, and look into the Small Business Administration loans often available to entrepreneurs.

#2 Getting the Word Out

Successful marketing is a huge part of getting a business going, but so many entrepreneurs aren’t fully utilizing modern technology to market their services or products. Small businesses might not be able to invest the money in marketing that big companies can, but there are many cost-efficient ways to market, such as using ratings and reviews, analytics, live chat, and more. Small businesses might be less visible, but they are also more nimble, especially in an age where online shopping is becoming more and more popular.

#3 Poor Management

While setting up efficient systems and processes isn’t the most fun part of the new venture, inconsistencies in these areas can hurt customer satisfaction and ultimately the business’s bottom-line. These tasks include marketing, customer relationship management, inventory management, and accounting processes.

#4 Growth

Just because a small business is successful in the beginning does not guarantee continued success. Small businesses need to keep an eye on their industries and evolve accordingly. This can be difficult for entrepreneurs, who are often already overworked and acting in many different roles, but keeping an eye on the direction of your business and the climate of your industry is well worth the time investment.

If your small businesses is just starting out, be aware of the pitfalls that have led to the failures of other small businesses. It can be difficult to wrap your mind around every aspect of starting a new business, but don’t let yours go under because you neglected something as obvious as marketing or finding the right loans.

If your small business is looking for office suites for rent in Overland Park, give a commercial real estate broker and Overland Park a call at 913-685-4100.

8 Words to Know When Renting an Overland Park Office Space

If you are thinking about renting an office space for your business, there are a few terms you should be familiar with before you start the process. Knowing these terms will give you a better idea of what your business is looking for and will help you understand the language of landlords and commercial real estate attorneys. Here are a few words and phrases to know, as suggested in the article “Vocabulary for Commercial Real Estate”:

Common Area Maintenance – also called “CAM” fees, this is the amount of additional rent that a tenant must pay for the maintenance of common areas on the property, including the cost of landscaping, insurance, lighting outside the building, property taxes, and the cleaning of common spaces.
Gross Lease – a type of commercial lease in which a tenant pays a flat rental rate that covers all of the expenses that the landlord takes care of, such as insurance, maintenance, taxes, and utilities.
Net Lease – a type of lease in which the tenants pay for the operating costs of the building themselves.
Escalation Clause – a clause in an office space lease that gives the landlord the ability to raise the rent to accommodate inflation, tax increases, and operating costs.
Letter of Intent – a preliminary document formed by the landlord and tenant stating their agreement to begin lease negotiations. Often both the tenant and landlord utilize the help of legal experts at this stage of the process.
Vacancy Rate – the percentage of all the space available in a property that is considered vacant or unoccupied at the time.
Occupancy Rate – the percentage of spaces in a commercial property that are occupied at a given time.
Usable Square Footage – the square footage number of the space that the tenant rents solely for their use, which includes both the office space itself and their private areas such as storage closets or restrooms.

If you are beginning to search for commercial real estate, it is a good idea to familiarize yourself with the vocabulary of the process. Doing a little research and seeking expert help can save your business money in the long run if it means you get a better lease deal.

If your business is interested in commercial space for lease in Overland Park, Give a commercial real estate broker in Overland Park A call at 913-685-4100. We can answer any questions you have about our available office spaces and even set up a tour for you!

4 Reasons to Quit Sitting in Your Office Space in Kansas

The health community has been abuzz with the news that sitting poses one of the biggest threats to a person’s health over their lifetime. Sitting not only causes short term problems, such as back soreness, but can also take years off of a person’s life and counteract productivity – and small business owners who are already experiencing the stress of working round the clock to get things off the ground cannot afford threats to health and productivity. Here are a few reasons to start doing a little more standing in your office, as suggested in the article “5 Reasons to Get Off Your Butt at Work”:

#1 Reduce Risk of Disease

You might be thinking to yourself that you hit the gym on a regular basis, so this health concern is unnecessary for you – but that is incorrect. Studies have shown that even people who exercise regularly cannot fight off the damage done by prolonged sitting. Some of the diseases connected to extended sitting over a lifetime include obesity, diabetes, and heart disease, with a correlation between people who experience chronic illnesses and report long periods of sitting during their days.

#2 Back Pain

One of the most immediate and apparent side effects of sitting is back pain, since sitting puts a strain on the natural alignment of the back. There are some tools to aid with this problem, such as quality chairs or special pillows, but even with these it is difficult to maintain good posture.

#3 Increase Productivity

It is a well known fact that brief work breaks can improve a person’s overall productivity by allowing their focus and concentration to reset. Taking occasional breaks – particularly standing ones, can help relieve both the strain of working hard and the toll on your body.

#4 Boost Your Mood

Any kind of exercise is a natural mood enhancer, so combining breaks with a little exercise – a brief walk around the office or even outside during lunch – can really help improve the quality of your workday and your health.

Consider implementing a few changes throughout your workday to ease the physical and mental stress of sitting at a desk for too long. Challenge yourself to work at a high table while standing, or at least give yourself a break to stretch and walk around every hour!

If your business is interested in executive office rental in Overland Park, give a commercial real estate broker in Overland Park a call today to learn about our affordable spaces!

Is My Startup Ready For a Commercial Space for Lease in Overland Park?

Sometimes when new companies experience sudden growth they find themselves in need of a new space as soon as possible. But for a new business owner, the process of locating a space and negotiating a good lease can be a challenge. Here are a few steps to take as you start the lease process, as suggested in the article “When Your Startup Is Ready to Rent an Office on Its Own”:

#1 Asses and Organize Your Finances

One of the most important questions a property owner will need to know about is whether or not your business will be able to pay rent and what will happen it you cannot. Property owners usually require a security deposit or a personal guarantee from an individual who can be financially responsible for your business. Take some time to compile financial references, bank statements, tax returns, and possibly even some sort of documentation from your bank vouching for your available credit. If at all possible, try to avoid offering a personal guarantee for your office space, which would mean putting your personal assets on the line in the event that the company fails – a very risky move.

#2 Select a Space With Room for Growth

You do not want your business to have to move again immediately, so really think carefully about the ideal amount of office space your business needs as well as the type of space your business needs – both at present and in the future. If at all possible, try to ask the landlord for an option space, or the first rights to an offer on another space in the building that becomes available during your tenancy. You might also consider choosing to rent extra space from the beginning, which you can sublease to another business on a short-term basis – but make sure that this is agreed upon clearly in your lease. Also try to get the right to assign the space to another business or individual in the event that you do need to move.

#3 Get Expert Help

Before you seriously consider any spaces, make sure you have someone that can give you solid commercial real estate advice. Try to look for a commercial real estate broker who specifically represents tennis or start ups. You want an agent who will understand the particular needs of a new businesses and can be a liaison on your behalf with landlords. It is important to work with a tenant broker, because you know they will represent you and your business versus the owner of the property. Usually these brokers are paid for by the owners of the property, so it will not be a financial burden to your business.

For further advice, consider consulting an engineer, architect, and an experienced real estate lawyer who handles leases and the particular area where you are looking. Working with these professionals early in the process could potentially save your business time, stress, and money in the long run. Another general benefit of seeking professional expertise is that it frees you up to continue to focus on your day today business tasks. If you are too distracted by the leasing process it can hurt your business is productivity at the time.

#4 Watch For Hidden Costs

Leases can be riddled with hidden costs for tenants. Whether it is marking up utility costs, or charging extra fees for construction, these expenses can have a drastic impact on the overall price tag of the space. This is another reason it’s beneficial to seek legal counsel. Experienced brokers or attorneys can help find these costs and judge their fairness in the current market and location. They can also help determine the benefits your company might be entitled to in a lease, such as a rent-free period, an allowance for tenant improvements, or other owner contributions and incentives.

#5 Determine Your Business’s Specific Needs

Sometimes businesses need a property owner to build out on the property, which is a major but not uncommon decision. If this is something your business needs, it is obviously going to be a major part of lease negotiations. But in addition to this companies might also have more specific needs – for instance having to do with antennas, energy, backup power, or kitchen facilities. Expect most leases to only cover very basic amenities, so in addition to negotiating for any construction you need done, you will also need to be very clear about any of these other special requirements.

If you’re startup business is getting to the the point where you know that you will need a new space, make sure that you as the owner are also ready to take this step. Seek the right counsel, do plenty of research, and make sure you know what your business needs and can offer a property owner.

If you are interested in looking into office rental space in Overland Park, give a commercial real estate broker and Overland Park a call at 913-685-4100.

3 Office Rental Space in Kansas City Design Trends

Both lifestyle and business trends are starting to shape the way commercial property is designed and operates. These changes in commercial real estate mean that prospective tenants have even more options than before. Here are a few trends to look out for as suggested in the article “6 trends in commercial property”:

The pop-up shop. Because consumers have started to do so much shopping online, both retailers and landlords have had to reevaluate their business plans. A new phenomenon called short-burst retail has developed to compensate for these losses. Businesses set up shop just for a month or so before moving, giving consumers a sense of urgency – they feel that they need to shop there before the store disappears.
Open office hubs. In this age of entrepreneurship, micro businesses are springing up all over the country. These businesses are often run by young, creative individuals who thrive in more social office environments. By utilizing an open office hub setup, new business owners or freelance professionals can have access to the amenities of an office space with the culture of a coffee shop. Many spaces are also designed for older professionals on the verge of retirement who do not want to have to travel far to an office. Additionally, some landlords have avoided leasing hubs spaces to single tenants and instead offer individual memberships to the hub, which vary in price based on how often the professional wants to use the space.
Workspaces for travelers. As business becomes more international, both traveling business people and international students looking to also work have started to seek office spaces that afford both the amenities of an apartment and all the equipment and facilities of an office space. These spaces are more than just apartments designed for long stays, as some business travelers are used to. The key to these new spaces is that they can serve as both a living space and an office space for travelers.

If your business is looking to rent a more unconventional office space, consider researching these three trends. You might find that a more communal environment or something conducive to travel or temporary retail could be perfect for your business.

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

5 Tips for a Successful Office Space Lease Term in Overland Park

Sometimes dealing with problems with your landlord during your commercial real estate lease is something you can think about beginning of the lease. Here are a few steps to help you avoid problems during your tenancy, as suggested in the article “6 Steps to Avoid Issues in Your Commercial Lease”:

Clarify the terms. Before you instruct the lawyer to prepare the lease, make sure that the terms are drawn up in a heads of agreement to be signed by both parties. This can help avoid arguments over the actual commercial terms during the execution of the lease and the duration of the term.
Utilize professionals. It is important to make sure that a lawyer is the one who prepares the lease, particularly one with experience in commercial real estate who can help facilitate the deal smoothly. In addition, an experienced property manager can also be an asset in making sure that a property is maintained properly throughout the lease.
Take care of approvals. If you as a tenant are doing any building or improvements, make sure you get the necessary approvals in order before starting – for example, dealing with local councils. Dealing with any regulations beforehand can help avoid problems down the line.
Understand your obligations. Make sure that your lawyer clearly points out your obligations as a tenant, and then communicate clearly with your landlord during the early stages of your lease in order to take care of any duties – for example, the approvals suggested in number three.
Inspections. Inspect the property carefully before the lease begins and note the condition of the space. This will make things easier for both the tenant and landlord at the end of the lease. If possible, take photos to document the condition of the space.

If you’re beginning the negotiation process for your lease, keep these steps in mind to ensure that your tenancy runs smoothly and you maintain a good relationship with your landlord. Dotting your i’s and crossing your t’s early on can help prevent potential problems from even arising in the first place. The key is to make sure that all aspects of the lease are clear and the lines of communication stay open.

If your business is interested in Overland Park office space for lease, give a commercial real estate broker in Overland Park a call at 913-685-4100 to learn more about our affordable spaces.

8 Steps To Take Before Signing a Commercial Office Space Lease in Overland Park

Once you have found an ideal location for your office space and you have settled on a rental rate, there are still a few things you need to consider before actually signing the dotted line. Here are a few things to add to your checklist, as suggested in the article “What Do I Need to Know Before Signing a Commercial Real Estate Lease”:

Keep negotiating. Lease terms are not set in stone until you actually sign, so continue to try to adjust provisions that are unfavorable to your business. Landlords are often willing to be more flexible than you think.
Read it closely. Though leases don’t make for the most exciting reading and can be very long, it is so important to fully understand what is in your lease. Check and double check the terms to make sure they got everything right—start date, rent, rent increases, and any other important terms. Make sure you fully understand both your obligations and the landlord’s. Overall, know what you’re getting yourself into!
Settle your business’s legal structure. If you want the protections being incorporated offers, make sure that you have correctly filed your Articles (or Certificates) of Incorporation or Organization.The mailing process from the Secretary of State can take time, so make sure you sort this out well in advance.
Understand the terminology. Do not let yourself be surprised by leasing terms like “CAM,” meaning “Common Area Maintenance” or other basic rental terms. Make sure that the percentage of the CAM you are responsible for is based solely on the size of the building, and not how much of it is actually occupied.
Read the definition of you CAM. This can be a confusing part of the lease, fraught with hidden fees for tenants who do not read carefully. Make sure that you aren’t paying for anything you shouldn’t have to, such as administration fees over 3%, landlord’s legal fees for other tenant negotiations, build-out costs for other spaces, marketing costs for your landlord, etc. Try to also ask for a CAM Stop lease, which means that you are only responsible for increases in CAM and taxes above your base year, which can help you avoid hidden fees. You could instead also ask for a cap on your CAM fees so that they cannot rise above a specific percent.
Understand your capital expenditures. Capital expenditures in the context of commercial leases encompasses the costs of major structural expenses such as repairs of foundations, roofs, or HVAC systems. The distribution of these costs between landlord and tenant varies from location to location, but try to make sure that the biggest burden of these costs does not get put on you. If you do have to share a certain amount of responsibility for capital expenditures, try to negotiate with your landlord for some sort of cap on the amount you have to spend, or suggest doing regular maintenance a few times a year, but not major repairs.
Prepare for a guaranty. It is very rare to get away with signing a lease without providing some sort of guarantee. Most landlords will not sign anything without you giving a personal guarantee. But do your best to negotiate and manage the extent of this guaranty. Try to reach an agreement that says you only have to guarantee part of the lease term (i.e.) half, or that a guaranty only lasts a certain amount of months after you terminate your lease, rather than the remainder of the lease period.
Check to see if the lease is assignable. If you ever need to sell your business for some reason, it will probably be important that you still keep the same location, in which case you would need to assign the lease to the business that is the new owner. Try to make sure that your lease doesn’t allow your landlord to terminate the lease in the event of an assignment. Understand though that the landlord will still want the possibility of rejecting the assignment if the new owner is financially unsuitable.

Ultimately, it is important to check the details of your lease and negotiate for what you can, but also be realistic. Your landlord’s willingness to compromise is probably going to be related to the percentage of the property you will be renting—the smaller the property, the less likely the landlord is to deal with nit-picky negotiations. Consider finding a lawyer to help you review your lease and help you decide what is worth pushing for in negotiations. If your business is interested in office rental space in Overland Park, give a commercial real estate broker in Overland Park a call at 913-685-4100!

5 Ways to Boost Employee Morale and Productivity in Your Kansas City Office Space

Making an office space more efficient has the double positive effects of both boosting employee morale and, in turn, also generating greater productivity. By engaging employees and improving general office productivity, you might also see an improvement in operations and profit increases—creating a positive cycle of job satisfaction and a better bottom line for everyone. Here are a few things to try to improve the efficiency and mood of your office space, as outlined in the article “5 Tips to Improve Office Space Efficiency and Productivity”:

#1 Improve Lighting

If at all possible, try to utilize natural light in your office space. Studies have shown that sunshine can improve people’s moods, and lack of sunlight can actually lead to decreased work motivation. Even simply keeping blinds and curtains open—as long as it doesn’t interfere with anyone’s workspace—could help boost mood and make the office cheerier.

#2 Set Boundaries

It is important for small businesses who operate from home to restrict disturbances while concentrating on work, such as putting a “do not disturb” sign on an office door. This approach can also apply to an actual office space, particularly if there are open area work spaces. Headphones can be a sign that someone doesn’t want to be bothered, or certain workstations can be designated for quiet, independent work, whereas others can be for a more collaborative environment.

#3 Work on Organization

Sometimes a cluttered or disorganized space can really drag down productivity. Take some time to do a little cleaning and rearranging as necessary. Buy cheap storage options such as bins or small shelves, create labels for files and binders to make it easier to find them, and think about ways you can start to go paperless using cloud based software for storage of documents you don’t need regularly. If you have no idea where to start and cannot invest the time in such a project, look into hiring a professional to help your office get organized.

#4 Simplify Your Space

This goes hand in hand with getting organized. Sometimes the solution is to purge unecessary items, not just put them in more boxes. Get rid of things that take up too much space and don’t add a lot of function. Cut down on clutter such as piles of papers. Try to keep the space tidy and create less cleaning work for yourself in the future by keeping to the “less is more” rule.

#5 Add Scents

Air fresheners can really improve a space, and other options are also available, such as dried flowers or scented oils. Fragrances can really improve mood and motivation. Consider scents like vanilla, lemon, lavender, jasmine, rosemary, cinnamon, and peppermint. Another simple and natural way of boosting the office mood is adding plants to a space. Plants can both improve the appearance of an office and are proven have a positive effect on mood.

#6 Improve Meeting Rooms

Employees often spend a ton of time in meetings, so consider ways to make this necessary part of office life more comfortable. Add a water cooler, a coffee pot, or even some of the above mentioned fragrances specifically in a meeting area.

While these tips and practices may all seem to small and simple, sometimes little difficulties such as florescent lighting or a cluttered office can be barriers to productivity. Consider putting into practice some of these suggestions to help improve efficiency, morale, and productivity in your office.

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.

5 Cost Efficient Ways to Improve Your Overland Park Office Space Decor

While decor is not necessarily a high priority item in a small business’s budget, it is possible to create an inviting space without spending too much money or violating any lease terms. Here are a few key things to focus on when sprucing up your space, as outlined in the article “6 Tips for Decorating the Perfect Office Space”:

#1 Reception Area

Some spaces might not have a reception area built in, so you will need to add one yourself. Instead of going with plain plasterboard walls, try to do something interesting that will make a good first impression on clients or customers, like setting up a rail or hanging a curtain to delineate a reception space. It can look good and add character to an office without costing too much to create or remove at the end of your lease.

#2 The Floor

If you can choose what to do with your carpeting options, look for a carpet tile. It is easy and cheap to replace just one stained carpet tile, versus having to replace the carpet in the entire office.

#3 The Walls

There are ways to create a bright, colorful space without actually painting the walls—If you leave the walls white, you will not have to repaint them at the end of the lease. Instead, create pops of color through furniture items, colored dividers, workstations, or hanging framed artwork prints around the office (be sure to use removable hooks).

#4 Break Area

If you’re looking to both break up the office space and boost employee morale, consider creating a little break area where people can go to be away from their computers. Some offices put in pool tables, foosball tables, or TVs, but even simple couch or a table and chairs can be a nice area for staff to get away for a few minutes.

#5 Plants

It is hard to go wrong with plants in an office, and adding greenery could be an extremely cheap way to really transform a space. Not only do they brighten up a space, but plants are proven to improve people’s moods. Be sure to pot the plants correctly to avoid any issues with soil or water stains on your carpets.

Consider these tips for improving your space if your goal is to keep the budget low and make good at the end of your lease without any problems!

If your business is interested in commercial space for lease in Overland Park, give a commercial real estate broker in Overland Park a call at 913-685-4100!

Avoiding Renter’s Regret Over Your Office Space Lease in Overland Park

Small businesses that jump into renting a space without doing the necessary research ahead of time can often end up regretting renting the space they chose—or even renting, period. Here are a few common regrets to be aware of and avoid when looking for your own office space, as suggested in the article “What Do Small Businesses Regret After Renting Office Space?”:

Renting – Sometimes small businesses regret renting at all and wish that they had continued to work at home. The reason for this is usually that money is too tight and they cannot comfortably afford the space that they lease. Sometimes it is better to take the time to save a little more before renting, or wait for growth—and certainly to make sure that a space is within your budget.
Not Reviewing the Contract – Small business owners often make the mistake of signing a lease without really reading it closely. Particularly if you are a first time commercial real estate lessee, it is important to have an attorney go over your lease with you to warn you of clauses that could be dangerous—such as a personal guarantee, which could put your home, car, and other personal assets at risk if your business is unable to pay rent.
Bad Location – If your business needs foot traffic for sales, it is essential that you choose your location wisely. Even if you find a beautiful office for a great price, it is not worth your money if it doesn’t have the foot traffic potential that you need. Avoid this regret by researching the demographics of an area. Who lives there? Will they be interested in your product or services? What is the competition in the area? Do your homework to make sure that you don’t find out the answers to these questions the hard way.
Too Much Luxury – It might be tempting to go for a higher priced space in an upscale area or with all of the gadgets and features you want, but be wary of spending too much on flashy luxury elements. That money could be used for more practical business purposes, such as increased advertising. You will be in that lease for at least a few years, so be careful not to sacrifice functionality and growth for slick looks.

Be sure to do research before renting a space to avoid regretting it later!

If your business is interested in office space in Overland Park KS, give a commercial real estate broker in Overland Park a call at 913-685-4100!