Kathy Woodward DDI Commercial | Southcreek

Getting Initial Asking Terms in Writing for a Small Office Lease in Kansas City

If the landlord or leasing agent you are working with only gives you the terms verbally, ask for the terms in writing before you draft a counter offer. You can simply ask for them in an email or a copy of the listing containing basic leasing information if the agent or landlord is hesitant to give you a letter. Here are some reasons why it is so important to get the initial leasing terms written down:

Agent Misunderstandings. A leasing agent is working for the interests of the landlord, and it is possible that they could misunderstand the directions of the landlord, or even possibly attempted to alter them. If you have the terms in writing, you can show the landlord that you made a counter offer in good faith based on the information that the leasing agent had given you.
Your Misunderstandings. If you are simply told the terms, it is also possible that you could misunderstand them and not be able to go back and reference them as you write a counter offer. Misunderstood information could lead to you making a counter offer that is either too high or too low.
Research time. Asking for the terms in writing also buys you a little time to research more about the lease, compare terms to other potential leases, or to consult an attorney about the terms.

Remember that asking for terms in writing does not legally require you to move forward with the lease. You can still either counter the terms or just turn them down if you do not think they will work.

If you are looking for an office space for rent in Kansas City, give Kathy Woodward at DDI Commercial a call at 913-685-4100 to find out about our commercial listings!

Checklist for Leasing Overland Park Office Space Part I

Business decisions should not be made impulsively. Think about making a checklist like this to make sure a space will meet your business’s needs:

Property Maintenance: Is the park well maintained? Parks that look run-down will not only hurt your business’s appearance, but may also be a sign that you will be dealing with an unresponsive landlord.
Visibility to Customers: If it is important that you attract street traffic, can the front of your office space be seen from the main road? Or does it have a sign advertising the businesses in the park that is street-visible? Whether you are looking for a retail space, industrial space, or business park, it might be worth looking into whether the owner advertises on behalf of the tenants in order to draw in business.
Parking: Are there plenty of parking spaces? Do not just visit the parking lot after-hours to tell; check it out at several different times on different days to get a good picture of the parking situation. A parking lot that is typically full suggests a strong flow of customer traffic, but it could also mean that your customers will have difficulty finding spots, so find out how much parking your business will be assigned.
Advertising Restrictions: Are there any restrictions on signs such as color, size, lighting, or are you required to use the landlord’s vendor?

Consider these and other factors when you are looking at different business spaces!

If you would like to learn more about Southcreek’s Kansas City office space for rent, give Kathy Woodward at DDI Commercial a call at 913-685-4100!

10 Money Saving Ideas for Small Business Looking for Commercial Realty in Kansas City Part II

Growing businesses need to save all of the cash they can—especially if they are considering a move into a new office rental space. Here are some more tips for tightening up your finances:

6.   Avoid high bank fees. Banks these days are trying to make more money off of fees to compensate for all of the new regulatory changes. Do everything in your power to steer clear of bank fees that are avoidable, such as bounced check fees, ATM surcharges, and debit-card fees. Consider even switching banks if you think you can save more money by doing so.
7.   Think about bundled services. Sometimes companies can bundle services such as phone service, internet, cable, fax, and web hosting. Your business could potentially save hundreds of dollars per year by bundling just two or more services from the same company.
8.   Use payroll debit cards. Your business can cut back on administrative costs by using a debit card payroll system, which bypasses the expense of printing checks and even lowers fraud risks.
9.   Keep track of employee spending. Employees at any level could be misusing or abusing company credit cards. Avoid these issues and save money by setting guidelines, monitoring monthly spending reports, alerts, and activating preset limits.
10.   Use electronic invoices. You can email invoices (e-voicing) directly to your customers, which will reduce your business’s printing and postage expenses.

Saving money in a multitude of little ways can add up for your business, and potentially allow you to save up the money to move into a bigger and better office rental space in Kansas City.

To find out about our available office spaces, call Kathy Woodward at DDI Commercial at 913-685-4100!

Sprint Center Tickets Through Southcreek Office Park

Looking for the perfect holiday gift for a Disney Princess fan or a budding basketball star? Or maybe you just want to find something fun to do in Kansas City while the family is in town for the holidays? Check out the Southcreek Office Park discounts for upcoming Sprint Center events to see if any of them fit your holiday needs:

Quidam: Cirque Du Soleil
Wednesday 12/26 7:30 pm
Thursday 12/27 7:30 pm
Friday 12/28 3:30 pm
Sunday 12/30 1:00 & 5:00 pm
Offer expires: 12/19 at 5:00 pm

Sesame Street Live: Can’t Stop Singing
Thursday 1/17 7:00 pm
Friday 1/18 10:30 am & 7:00 pm
Saturday 1/19 10:30 am, 2:00 pm & 5:30 pm
Sunday 1/20 1:00 pm & 4:30 pm
Offer Expires: 1/10 at 5:00 pm

Harlem Globetrotters
Saturday 1/26 at 2:00 pm & 7:00 pm
Offer Expires: 1/18 at 5:00 pm

Disney on Ice: Rockin’ Ever After
Thursday 3/28 7:00 pm
Friday 3/29 7:00 pm
Saturday 3/30 11:00 am & 7:00 pm
Offer Expires: 3/13 at 5:00 pm

Remember that that these tickets are subject to availability and while supplies last, so take advantage of them soon! Call Heather at 816-949-7147 Monday – Friday between 9:00 am – 5:00 pm to place your ticket order. The only fee is a $1.25 handling fee.

If you would like to learn more about the deals and opportunities available to your business if you choose Southcreek’s office suites for rent in Overland Park, give Kathy Woodward at DDI Commercial a call at 913-685-4100!

Documentation to Prepare When Applying for a Loan for Office Space in Kansas City

Some lenders for commercial real estate loans specialize in funding specific types of commercial ventures, such as retail operations, warehouses, or apartment complexes, while others provide financing for a more general variety of commercial real estate ventures. However, despite the fact that there are many different types of financing and commercial real estate, most lenders are primarily concerned with the level of risk involved in giving out a loan. To assess this level of risk, they will want to see certain documentation from a business, so the best thing a business owner can do to start the loan acquisition process is to have the following paperwork in order:

Income and expense statement for the property that demonstrates a solid stream of income
Management team profiles
Financial statements on all principles involved as holders of the property
Property appraisal
Financial statements on the borrowing party
Plans for the use of the property

In addition, the borrower will also be asked to pay1-2% of the terms of the loan to show their commitment to the deal, which will be refunded once the loan is closed. Having your documentation ready and knowing what a lender is looking for in a potential loan candidate can help you secure your loan and put you one step closer to your ideal office space in Kansas!

Give Kathy Woodward at DDI Commercial a call today at 913-685-4100 to learn more about office rental in Kansas City through Southcreek Office Park!

Common Questions about Commercial Realty in Kansas City

Perhaps you are just starting a business and are not quite familiar with all of the ins and outs of renting commercial real estate. Here are a few common questions about commercial real estate transactions and some expert answers:

What exactly does commercial real estate mean? Commercial real estate can refer to any real property transactions in a business context. This could mean something as basic as renting office space, or owning and selling real property (i.e. an apartment complex) as part of the sale of a business. The property could be agricultural, industrial, or even residential spaces being used for business purposes.
What are some typical risks of a commercial real estate transaction? Some commercial properties might come with liens or other title problems depending on the type of business. Other common issues include zoning concerns or the presence of hazardous materials. Those looking to buy commercial real estate also need to consider whether the location of the real estate serves their business’s needs.
Does it matter how I take title to commercial real estate property? There are many issues that could arise regarding how you chose to take title. Taking title to the property as an individual is risky, because you could be dealing with possible liability exposure that you would be better off minimizing or avoiding altogether. Experts recommend that instead renters take title to commercial properties in the name of a limited liability company with a single purpose.

If you want to know more about getting started finding commercial office rental in Kansas City, give our broker Kathy Woodward DDI Commercial a call at 913-685-4100!

3 Things to Think About When Looking For Kansas City Office Space

Searching for an office lease for your company can be a daunting process. There are long-term factors to be aware of when choosing a space, so you do not have any regrets once you are already set in your lease. Here are just a few to consider:

1.   Current market conditions. Knowing current market conditions can help you best negotiate a lease and protect you from overpaying for your rental space.
2.   How much space you really need. Overestimating or underestimating your space needs could cost you over the course of your lease. Consider a few different factors:
•   How many employees will be working in the space.
•   Whether employees will be in private offices, cubicles or a combination.
•   What common areas you need, such as conference rooms or break rooms.
•   What kind of flow and separation configurations you want.
3.   How your company’s future needs could differ from current ones. A company’s needs could change due to a number of factors, such as layoffs or downsizing, increased business, business reorganization, or changes to the local tax laws. It is important to be aware of these potentialities when signing a lease.

Being cognizant of these factors can help you carefully select your ideal office space. For guidance in finding an office space in Kansas City for your company, feel free to call Kathy Woodward DDI Commercial real estate broker at 913-685-4100!

First Fridays in the Historic West Bottoms Antique District Near Southcreek Office Park

Get out and experience Kansas City on the first Friday of every month! You may have heard of First Fridays in the Crossroads district, but the West Bottoms is now hosting a First Fridays of its own. The West Bottoms Business District Association created this event as part of their mission to revive the most historical part of downtown Kansas City and make it a good place to live, work, play and visit in the area. Take advantage of this opportunity by visiting the district to do some antiquing, check out art galleries, or enjoy a dinner on the first Friday of every month, when the vendors and shops throw their doors open for the whole evening. Some of the attractions in the West Bottoms include:

Full Moon Productions
The Golden Ox Restaurant
Woodsweather Café
Grandma’s
Stuffology
Bottoms Up Antique Market
Rag and Bone
James Street Antique Mall
Bella Patina
Nook & Cranny
Restoration Emporium
Hickory Dickory Vintage & Antique Store
Liberty Belle
Good Ju Ju
Hello Sailor

Upcoming First Fridays include August 3-4, September 7-8, October 5-6, November 2-3 and December 7-8.

Looking for office rental space in Kansas City? Southcreek has plenty of available and affordable spaces for businesses of all sizes. Give Kathy Woodward DDI Commercial a call at 913-685-4100 to learn more about how your business can benefit by setting up in the Kansas City area.