commercial real estate broker in overland park

Factors for a Small Business to Consider When Trying to Calculate Square Footage

When looking for an office space, it is crucial to consider the growth of your business and whether a smaller or bigger space would be the best fit for you at this point. In order to make this decision, it is important to consider the pros and cons of big versus small spaces. Here are a few factors to consider if you are thinking of going small, particularly if you are a new business, as suggested in the article “How to Think About Your Square Footage Needs”:

Smaller office costs – The benefit of getting a smaller office is obvious—less cost. If a new business owner has to close their doors, they will not be hurt as bad financially as if they had pursued a larger, more expensive space.
Space needs – If you are a newer, smaller business, you might just need less space to accommodate a smaller amount of equipment and a lighter staff.
Lease length – While it is wise to start small, many small business owners also like to start with a short term lease, such as only one or two years, which allows for the possibility of moving or expanding if your business grows within the next few years.
Pitfalls – There is always the possibility that your business grows quickly and becomes too large for your space. Often landlords also charge a slightly higher cost per square foot for shorter term leases in order to compensate for the cost to them of having to find a new tenant after a short period of time.

If you are thinking of renting a small space, make sure you know all of the pros and cons of that option!

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

3 Things You Should Know About an Office Space Lease in Overland Park

The commercial real estate leasing process can be very detail-oriented. Here are a few things to be aware of when you enter lease negotiations, as suggested in the article “Commercial Real Estate: What You Need to Know Before Leasing”:

Beware of the first draft. Know that the first copy of a lease that a landlord gives you will be full of terms that are much more favorable to them. The landlord does this hoping that you as a tenant will sign this first copy without putting up a fight. However, you need to enter negotiations knowing that the lease you will receive is not standardized—many of the clauses in it are up for negotiation, and you can potentially get a lease to a point where it is fair to both parties.
Personal guarantees. You will most likely have to sign a personal guarantee when renting a space, which means that you are personally liable for rent in the event that your business cannot pay. A landlord will also probably want to check on your personal finances to make sure that you can follow through with this. Note that landlords usually only care about this until you have established your trustworthiness as a tenant, so you might be able to negotiate to end the personal guarantee after a few years.
Commercial lease pricing. While your rental rate is going to be quoted on a per square foot basis, know the difference between usuable square footage—the office space you will actually use—versus the rentable square footage—the rate you will be charged for that also includes common spaces in the building.

Be ready to be a strong negotiator by doing your homework on commercial leases!

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

10 Small Office Lease in Kansas City Mistakes that Could Hurt Your Business

While negotiating a lease might be a complicated and frustrating process, it is important to be diligent throughout the entirety of negotiations—or your business could suffer the negative effects of leasing mistakes in the long term. Here are a few mistakes tenants often make to be aware of as you conduct negotiations, as suggested in the article “10 Leasing Mistakes Office Tenants Make”:

Entering negotiations at the last minute.
Poor space planning or an inaccurate estimate of your business’s space needs.
Looking at costs above all other concerns.
Losing an opportunity by hesitating before signing.
Failing to define objectives before making decisions.
Not taking into consideration potential growth.
Not considering exit strategies in a lease.
Not working with lawyers or real estate agents who can offer objective legal advice.

These pitfalls can be avoided by giving yourself plenty of time to research commercial lease negotiations and to work your way through the process without the pressure of a looming move-out date from your current space. Before you even enter negotiations, take the time to brainstorm your business needs, goals, and budget for a new office space.

If your business is interested in renting commercial realty in Overland Park, give a DDI Commercial real estate broker a call at 913-685-4100!

3 Things to Use to Your Advantage in Negotiations for an Office Space Lease in Overland Park

Even if you have never negotiated a lease before, you can still go into the process prepared to fight for the best deal possible. Here are three things that you can make work to your advantage in negotiations with a landlord, as suggested in the article “Office Space Leasing Tips”:

#1 Research

Enter negotiations armed with plenty of information about the real estate market. Most building owners you will be approaching deal with real estate on an everyday basis, so be prepared for them to know more than you. Close this gap by doing plenty of research, or hiring a commercial real estate broker or attorney to help.

#2 Time

Start looking for space as early as possible. Keeping an eye on landlords’ vacancies can give you a lot of information about how desperately they need to lease a space. You also want to pursue multiple properties, rather than getting wrapped up in one, just in case that deal falls through.

#3 Financial Status

If you are coming from a strong financial position, you have some power in negotiations, as landlords are looking for tenants who have good credit. Have plenty of documentation of your good financial standing prepared in advance to show to the landlord in order to make a strong impression.

Be aware of the leverage you have in negotiations and do not be afraid to use it!

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

Tips for Furnishing the Reception Area in Your Office Rental Space in Overland Park

Your reception area is the first opportunity to make an impression on customers as they enter the door. Make sure that you are presenting a positive image and making visitors feel comfortable by carefully selecting furniture for the reception area. Here are a few things to think about as you furnish the space, as suggested in the article “Choosing Reception Furniture for Your Office”:

Make it aesthetically pleasing. Avoid the standard, boring waiting area furniture and take advantage of all of the furniture options that are out there. Find something that fits with your company and your interest in your customers. Consider things like color and durability as you shop.
Find a professional reception desk. You want to let your customers know that you are organized and on top of things, so make sure to find a professional desk that will allow a receptionist to keep things neat and orderly.
Don’t forget about the kids! If you are expecting kids in your reception area, consider providing a small table with toys, books, or puzzles for their entertainment. If there are kids around, you will also want to stay on top of cleaning up any spills and messes to keep the reception area looking clean.

Make a strong first impression on your customers by creating a comfortable, professional, and unique reception space!

Looking for Overland Park office space for rent? Give a commercial real estate broker in Overland Park a call at 913-685-4100!

5 Reasons to Consider Leasing Equipment for Your Office Building in Overland Park

If you just moved into a space and need to find office equipment, consider leasing your equipment instead of buying it. You can find everything from cars, to computers, to desks, and you might find that the leasing option is more cost effective for your business. Here are a few reasons to consider leasing equipment, as outlined in the article “Leasing Business Equipment”:

Save yourself some time and energy. If you lease your equipment, you can avoid some of the hassle and headache of finding a loan to finance your equipment.
Stay with the times. Leasing equipment can help you update your technology regularly without having to buy it new every few years.
Try things out. By leasing your equipment, you can see what is most effective for your business and move on to something else after a short period if what you got is not working for you.
Get maintenance assistance. Sometimes maintenance is included when you lease equipment.
Enjoy a tax break. You might be able to get a tax advantage for a leased item because the payments are fully deductible.

If you are worried about how you are going to furnish your office with equipment on your current budget, look into leasing options!

Looking for office suites for rent in Overland Park? Give a commercial real estate broker in Overland Park a call at 913-685-4100 to set up a tour of one of our spaces!

4 Tips for Cutting Energy Expenses in Your Office Space in Kansas

Sometimes even just simple changes can help your company save a lot of money in the long run. Take a look at your energy consumption, and see if you can implement these simple strategies to reduce your energy bills, as suggested in the article “10 Ideas for Saving Money & Energy in the Office”:

#1 Turn of the computer.

Make sure that you power off your computer when you leave the office for the day—it is one of the easiest ways to save on energy costs at the office! If you have a power strip in your office, check to see that that is flipped off as well when you leave.

#2 Consider switching to laptops.

Not only are they more mobile, but they also use less power than desktop computers, which means lower electric bills. If you cannot part with desktops, consider upgrading to more energy efficient models.

#3 Shop for green office supplies.

Major office suppliers have entire sections of catalogs dedicated to green products—and not just paper.

#4 Recycle, recycle, recycle!

The most obvious thing to recycle is paper, but you can do more than just toss paper in the recycle bin. Use both sides of a sheet and turn old envelopes into scrap paper than can be used for to-do lists. You can also recycle office equipment, such as computers, monitors, or even used ink cartridges, and sometimes office supply stores even offer discounts or rewards for recycling these things.

Consider starting a committee in your office to try to implement these easy ways to save money and energy!

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

6 Tips for Managing the To-Do List in Your Office Space in Overland Park, KS

Small businesses can be a lot of work and it is easy to get overwhelmed quickly. Whether you are training employees, keeping an eye on your future, or learning how to do new things, there are never enough hours in the day. Check out these tips to help you maximize your productivity and keep a little of your sanity, as suggested in the article, “6 Steps to Managing Your Overwhelming Workload“:

Prioritize. Your to-do list will always be long, and you will almost never get it all done in a day. Accept this fact, and begin to prioritize the most urgent and important tasks. Be careful to make sure that what is urgent does not always edge out things that are important to stay on top of in the long term.
Develop Discipline. The reality of being a small business owner often entails sacrificing pleasure for work. If your business is something you want to be a priority, be aware that often you cannot choose the things you would like to do over the things you need to do.
Practice Time Management. Limit the time you spend on certain tasks so that you stay sharp and focused. Be aware of what tasks make you less productive the more time you spend on them and limit your time on these projects.
Delegate! Stick to tasks that are in your skill set, and outsource ones that are not. Do not waste your time tinkering with a computer for several days when you could call in a technician to do the job in a half hour. Though we are often reluctant to give critical tasks to others, delegating projects and problems that can be dealt with by other capable hands can free you up to do more productive things.
Don’t Be a Perfectionist. This does not mean accepting mediocrity, but do not slave over projects that will not produce any more value no matter how much time you spend on them. It is frustrating, a waste of energy, and takes your time away from other tasks that do need more work to produce value.
Figure Out Your Pace. If you are going to be the primary worker in your small business for several years, you will need to develop a pace that you can sustain for this time. However, sometimes there will be short periods when you might have to work at 110% to get your business through a critical time. This can be a successful strategy if you are able to generate some revenue, hire more employees and then delegate so that you can scale back.

Work hard, but also learn to work smart!

Give a commercial real estate broker in Overland Park a call at 913-685-4100 if you are interested in Overland Park office space for lease!

Costly Mistakes in Overland Park Office Space Leasing and How to Avoid Them

Making a mistake on a commercial real estate lease can be a major financial setback for your business. Here are a few common mistakes tenants make and some tips for avoiding these mistakes, as suggested in the article, “The Eight Mistakes Tenants Make When Leasing Office Space“:

Mistake #1: Entering negotiations unprepared. Often tenants do not know exactly how much space their business will need when they enter negotiations, and could wind up with only 12,000 SF when they actually needed 15,000 SF.

Solution: Have an architect do a space program to determine exactly what size office space you need. Many architects will do this for free as a favor to a good broker. Working with a broker might also help you avoid this problem, because they will raise questions that you might not have considered, such as what floor load capacity you need or if you have any unique telecom needs.

Mistake #2: Not thoroughly inspecting documents. It is important to brace yourself for a lot of paperwork when you begin the process of negotiating a lease. An extremely common tenant mistake is not carefully reviewing all of the documents they sign. Landlords are trying to make a profit on the lease, and while their terms may be legal, they might not necessarily be fair or designed to help your business. It is also important to double check to make sure that the property is zoned for what you need and that your landlord is conforming to safety codes.

Solution: The obvious way to avoid these issues is to carefully go over your entire lease and any other documents, possibly with legal help to ensure that you avoid pitfalls you might not be aware of. One small thing you can do to avoid a potential major expense is hiring someone to inspect the HVAC (heat and air conditioning) unit in your office space before signing a lease. Often landlords will claim it is working without actually having it checked. If the unit is not working and you take possession of the space without knowing, it could cost you quite a bit of money down the line to repair.

Mistake #3: Overpaying on rent. Often tenants rush into agreeing to a rental rate without investigating what tenants at similar properties pay, and they end up paying way more than the going rate. Be familiar with the commercial real estate market in an area before beginning to negotiate your lease.

Solution: This kind of knowledge is very basic to commercial real estate brokers, so consider hiring them if you want to minimize the potential for mistakes. They can help you figure out what an appropriate rental rate is, as well as what kind of security deposit you should expect to pay—and they will save you some time by doing all of this research for you.

Do not allow yourself to be put in a position of financial stress because of leasing mistakes. Begin the process prepared and seek help when needed to get the best possible lease for your business!

If you have questions about how to calculate square footage for your business’s needs, give a DDI Commercial real estate broker in Overland Park a call at 913-685-4100!

4 Steps to Promoting Health and Wellness in Your Overland Park Office Space

With summer approaching, now might be a good time to get the whole office involved in an effort to be healthier. Here are some steps you can take to promote health and wellness in your office, as suggested in the article, “Steps to Adding a Wellnesss Program“:

1. Gather input from the office. Try to assess what kind of health program would interest your employees. Survey the office with questions on topics such as smoking, exercise, and hereditary health issues. Find out what their personal health goals are so you can tailor your program to serve their needs.

2. Consider your budget. Once you have assessed what your employees’ needs and wants are, the next step is to see what you can reasonably afford to do. What kind of budget do you have available for this undertaking? Can you afford to put some workout equipment in the office for employees to use during a break?

3. Develop a program. Once you know what your employees want and what you can contribute, come up with a plan that includes clear objectives and activities. Here are some suggestions for things to include:

Company golf outings
Discounts to a local gym
Healthy eating education and healthy recipe exchanges
Lunchtime Walking Club
A Fitness Challenge that tracks progress and offers incentives for employees who reach goals.

4. Get started! Put your program into action! Keep track of successes and failures, solicit feedback from employees, and be flexible. Your program might not be perfect the first time around, but if you are open to suggestions and changes, your employees will probably appreciate your efforts and show more interest in getting involved.

Send out some surveys and get your office on the road to health soon!

If you are interested in office suites for rent in Overland Park, give a DDI Commercial real estate broker in Overland Park a call at 913-685-4100!