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!
Prepare yourself for lease negotiations by studying up on provisions you might see in commercial leases. Here are a few provisions that you might not have heard of, as described in the article, “Real Estate – Commercial Leasing”
- “Go Dark” Provisions. As a tenant, you will want to see whether your lease allows you to stop operating in a space if necessary while still adhering to lease terms and paying rent. Retail businesses might find themselves in a position of having to “go dark.” Landlords will typically oppose this, as it affects the vitality of the location, and will want to combat it with a recapture clause, which allows them to terminate the lease and control re-leasing of the space.
- Tenant Purchase Options. Sometimes leases stipulate that a tenant has first rights to purchase or refuse the leased property if the landlord decides to sell it, which means the landlord must offer the space to the tenant before offering it to a third party.
- “Make Good” Provisions. These provisions lay out what a tenant needs to do at the end of a lease term to return the space to the condition it was when it was first rented out to them. On the one hand, landlords might want tenants to remove any additions they made because they will be problematic for the landlord down the line, but on the other hand, landlords might want tenants to leave improvements that the tenant paid for to make the space more appealing for future tenants.
It is important to understand these provisions and how they could potentially affect your business throughout the duration of your lease.
If you are looking into executive office rental in Overland Park, give us a call at 913-685-4100 to find out more about our affordable office space in Overland Park.
There has been a growing trend in businesses booking meeting rooms off-site for various conferences and meetings. If your business is considering giving this a try, but you are not sure if it is worth it, consider some of the reasons that other businesses have chosen to take advantage of these spaces, as described in the post, Why Should I Book a Meeting Room?:
- Convenient locations. Because there has been such an increase in demand for these kinds of spaces, often it is easy to find a good space within convenient distance of your business.
- Morale Boost. Sometimes just changing locations can inspire and refresh employees who are used to meeting in the same space day after day.
- Technology and Space Size. Most meeting rooms are fully equipped with internet access, projectors, computer terminals, DVD players, and more—all of the same conveniences that are in your own space, or possibly more to take advantage of. You can also book different sized meeting rooms if you need a bigger or smaller space than you have in your own office space.
- On-site Support. Often there is support staff and catering at the location to help take care of small logistical meeting details.
If you want a change of scene or are looking to hold a large conference that your business cannot accommodate, looking into off-site meeting spaces might be a good option.
Want to learn more about office lease rates in Kansas City? Give a commercial real estate broker in Kansas City a call at 913-685-4100!
Many small businesses lease commercial space, and often it is a smart business decision to share that work space with another business. This can be a cost-efficient decision, and works especially well for businesses that regularly see clients or patients, such as lawyers, financial planners, or therapists. It is a good idea when sharing a space to find a business whose needs are similar or fit well with yours, such as someone who is in the same or similar profession.
Regardless of what type of space you are potentially sharing or what kind of business you have, here are a few basic space sharing issues, as detailed in the article, What’s Involved in Sharing Office Space, that you might want to think about:
- Responsibility for the work space. One question that will definitely come up is who holds ultimate responsibility for the space. If you have joined with another business in finding a space to share, then you will most likely have equal responsibility from the start. However, another potential situation is that one person owns a building with others either paying rent for their shared space or buying a share of the property to become joint owners. If one business is joining a space that is already leased by the other business, then they need to discuss whether to become subtenants or primary tenants.
- Dividing Costs. Regardless of whether the space is owned by a landlord, all of you, or just you, it is essential to discuss with your sharing partners who pays for what. Since typically sharers use different amounts of space or use the space for different purposes, it is important to come up with a fair arrangement for who pays for what. If your use is not equal in terms of time or space, you will need to come up with a fair payment arrangement that is also flexible, in case any of the parties’ needs change.
- Making Decisions. You will also need to determine how to make decisions about the workspace regarding everything from appropriate operations to space decorations. You might defer these decisions to the master tenant or owner if there is one. But if you have equal responsibility or shared ownership, you need to discuss a system for making decisions together.
Sharing a space is can be a smart business decision, but it is important to communicate with your fellow tenants about things like costs and decision making strategies so that you clearly establish each party’s responsibilities. Check back for the next post for more details on how to navigate use and cost of common areas in a shared office space.
If your business is considering executive office rental in Overland Park, give us a call at 913-685-4100 to find out about our available office space in Overland Park, KS! We have a variety of available offices to choose from of many different sizes and layouts, and our Johnson County location puts your business near a variety of resources in the area!
Feeling daunted by the prospect of negotiating your commercial lease? Even if this is your first time or you have not had to do this in a while, you can still enter negotiations prepared by familiarizing yourself with how the leases work and a few negotiation basics. Here are some tips for negotiating a successful commercial lease:
#3 Maintenance and Repair Responsibilities
In residential leases, the landlord typically takes care of maintenance and upkeep, but in commercial leases this is not the case. Some commercial leases state that the tenant is responsible for all aspects of property repairs and upkeep, while others might stipulate that the tenant has to be responsible for a few systems such as plumbing, air conditioning, etc. Check your lease to make sure you know who is responsible for these expenses and if there is a dollar limit on how much you as a tenant have to pay for these things. It might be worth consulting an attorney to clarify your rights.
#4 Carefully Review Your Lease
Though obvious, it is worth saying—read your lease closely. You might even consider hiring a commercial real estate attorney to help you look at the fine print.
Knowing a little bit about how to navigate commercial leases can help save your business from unexpected real estate rental pitfalls.
If your business is looking for executive office rental in Overland Park, give a commercial real estate broker in Overland Park a call at 913-685-4100!
Do not miss out on an opportunity to negotiate the best lease terms for your business because you do not understand the language of leases! Here are a few more insights into common commercial lease terms:
7. Rent. For small businesses, rent is a crucial part of the lease. It is important to look carefully at this clause for any of the following potential costs or savings:
- Unexpected expenses—be sure you know exactly what parts of the landlord’s operating costs are being passed along to your business.
- Savings that might make it possible for your business to take on other expenses—for instance, a landlord could offer you a “tenant improvement allowance” for improving the space before you move in.
- Any other issues you might want to renegotiate, such as periodic rent increases.
8. Security Deposits. A landlord might ask for a security deposit to cover expenses if you fail to pay rent or meet other financial obligations. Residential landlords in many states are limited to only asking for two months’ rent as a deposit, but commercial landlords are allowed to ask for any amount they think is necessary to cover any of these expenses. Alternately, they might ask for a “Letter of Credit” from your bank, which states that the bank has put aside a specified amount for your landlord’s use in the event you fail to meet a financial obligation.
Be aware of these clauses as you enter negotiations so that you can advocate for your business’s needs!
If you are considering executive office rental in Overland Park, give a commercial real estate broker in Overland Park a call at 913-685-4100 to find out about our available spaces!
It is important to determine the true cost of a space for a couple of reasons. First, you need to be certain that your budget will cover the rent and other expenses for a space. Second, if you are deciding between a few different spaces, knowing the true cost each space can help you better compare those spaces. Here are a few more tips to help you determine what the landlord is really asking you to pay:
3. Consider the layout of the space. It is important to take into account not only the size of the space, but its configuration. Sometimes spaces may have awkward angles, narrow corridors, or interrupted work spaces. This is much less useful than well designed work areas or hallways that can accommodate bookshelves or places to put office equipment. You might actually get a better deal with a space that is $20 per square foot than $18 per square foot if the more expensive space has a layout that allows you to use it more efficiently, resulting in you needing less space.
4. Find out if you will have to pay for extras. If you do not know much about commercial leasing, you may be surprised to find how different it is than residential leasing. In a residential lease, you might pay one lump sum that covers operating expenses, but in a commercial rental situation, you might need to pay for some of those charges separately.
5. See if the landlord wants a percentage of your profits. Especially in a retail space, sometimes landlords demand a share of your profits in addition to rent, or in a mall situation you might be asked to pay what is called “percentage rent.”
Being aware of these rental cost issues can help you be a sharper negotiator.
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!
When there are so many different types of office suites out there, it can be difficult to determine which kind of space is best for your business. There are three different types of typical office spaces: a traditional office, executive suites, and flex space. Here are some details on each of these types of spaces:
#1 Executive Suites
Executive suites are a group of several tenants, usually from different businesses, who share resources in order to form a fully functional office space. In this setup, a small business will often rent just one office and share common areas with other small businesses. These common spaces can include:
- Restrooms and break rooms
- Reception area
- Print/mail or storage rooms
You might see this type of space referred to as business suites, serviced offices, corporate suites, or executive offices. If you are considering a space like this, make sure you find out about any potential services and fees you will have to deal with on top of rent. Often this arrangement is the most financially viable option for small businesses. The major con to this is that you have to share common spaces with other businesses, which could lead to frustrations over the use of common amenities.
Check back to later posts about other potential kinds of office space for your business!
If you would like to speak to a commercial real estate broker in Kansas City about executive office rental in Overland Park, give us a call at 913-685-4100!
Here are a few final tips to negotiate the best lease for your business:
5. Build in clauses to protect your business. You might consider looking into and negotiating some add-on clauses to your office space lease to protect your interests in the long run. Here are a few add-ons you might consider:
- Exclusivity Clause – this prevents a landlord from leasing other properties on the premises to your direct business competition.
- Sublease – the ability to sublease gives you flexibility if you find your business plans change and want to sublet your space.
- Co-tenancy – a development might have an “anchor tenant” (i.e. a known retail brand), and a co-tenancy agreement protects you from losing customer traffic if that tenant closes by allowing you to end your lease if the landlord does not replace that tenant within a certain time period.
6. What happens if you default? Look into what happens to your tenancy if you default. Will you be closed down without notice? Immediately locked out? Check on these details up front and see if you can negotiate more time for your business if you default, or only pay the month’s rent owed instead of the rest of the money owed on the lease.
An inexperienced negotiator might not be aware of all of these details involved in negotiating a lease, so doing a little research can help you be more prepared to negotiate the best possible lease for your business.
Looking for executive office rental in Overland Park? Give Kathy Woodward at DDI Commercial a call at 913-685-4100 to find out about our available spaces!
Study up on leasing language and procedures before you begin searching for office rental space in Kansas City. Here are some tips on office leasing that every businessperson should know:
7. Tenant improvement allowance is usually applied to square feet. This allowance can either be applied to rentable square feet or the usable square feet of the premises. Unless you are in a single tenant building, the rentable square feet is always larger—about 10-15% larger—so the dollar amount for rentable square footage would be higher. Be sure that you know which measurement the landlord is using for the allowance.
8. Seek professional advice. Remember that you only have to go through the rental process a few times in your corporate career, whereas landlords deal in office rental all the time. Try to even the playing field by finding a good tenant representative for any relocations, subleases, or renewals. These individuals will represent you, and usually the landlord will pay for their services. Taking advantage of this opportunity means saving money and frustration in the long run.
Consult with professionals, do your research, and make sure you begin the office rental process fully prepared!
If you are interested in finding executive office rental in Overland Park, give us a call at 913-685-4100 to set up a tour of one of our available spaces!