office rental space in Overland Park

6 Ways to Plan for Unforeseen Events in Your Office Rental Space in Overland Park

While there are a lot of issues that are very unlikely to happen during the course of your tenancy in an office rental space, such as natural disasters, accidents, or other sources of major damage to the property, it is best to consider those possibilities and their consequences when first drafting your lease. Here are a potential remedies to unexpected casualties to consider as you negotiate, as suggested in the articled “Planning for the Unexpected: Casualty issues in Commercial Properties”:

#1 Repairs

Even if it is unlikely that your office space suffers any severe damages throughout the course of your tenancy, there is a good chance minor issues will crop up occasionally, caused by weather or the natural wear and tear of a building. In order to prepare for minor and major damages, make sure your lease makes it very clear who is responsible for repairs, insurance, or replacing or improving any parts of the space. Don’t forget to factor in build-outs that might not be added until later in your tenancy.

#2 Lease Termination: Tenant and Landlord Rights

It is important to make sure that you will not be stuck in the lease in the event of major or partial property damage requiring repairs that will take a long time. Try to negotiate for permission to be released from the lease in the event that the timeline for repairs exceeds a reasonable amount of time, for example if it is going to take more than six months or a year, depending on the size of the space. Consider also what will happen if your landlord sets a reasonable original timeline, but unexpected delays occur and push back that timeline. Be clear about what the parameters are and if and when you can terminate the lease.

On the other hand, a landlord might to provide for their own right to terminate the lease if the damage to the space means that you as the tenant can pay a rental rate far below market value. You as a tenant want to avoid a situation in which the termination of your lease by the landlord is permitted if tenants in similar situations also have their leases terminated.

#3 Rent Abatement

It is common to include in a lease a clause allowing a tenant’s rent, CAM expenses, and tax payments to be reduced in the event of a casualty while a landlord performs the obligatory repairs.

#4 Damage to Important Parts of the Property

Even if your specific office space is not damaged, it is important to talk about what will happen in the event that other key areas of the property are damaged—for instance, the parking lot, or the space of an anchor tenant who might leave and decrease the value of the location.

#5 Waiving of Tenant Fault

Make sure that in your lease you negotiate for a mutual release from responsibility for property damages for both parties so you are not in danger of being pursued over subrogation costs. Even if the landlord tries to claim that the damage was partially because of tenant negligence, you should protect yourself from this possibility in all aspects of the lease since you already help pay for the landlord’s property insurance through CAM costs.

While you might never have to use any of these clauses in your lease, it is important to make sure your business’s rights and interests are protected in the event of a casualty to the property.

Is your business looking for affordable office space in Overland Park? Give us a call today at 913-685-4100 to set up a tour of an office space in Overland Park, KS!

8 Insights For Startups in a New Overland Park Office Space

Managing and developing a startup company can be an all consuming task, one that demands drive, vision, patience, and a willingness to learn from mistakes. Here are some insights from successful business CEOs and founders who have been there and overcome the challenges associated with starting a business, as described in the article “Wisdom for Startup Growth, From 5 People Who’ve Been There”:

#1 Smart hiring

It can be hard for a small business to devote a lot of time to the recruiting and hiring process, but this pays off in the long run. Once you have a stable base of employees, think about how you can actively recruit new college graduates with the skills you need, and think about how you can tailor the application and interview processes to find the candidates best suited to your business. Multiple CEOs have cited that an early mistake they made was not devoting enough time to the interview process to screen both for skills and for whether or not a candidate is a fit in the company culture. One CEO recommended data driven interviews, which means that candidates are encouraged to bring evidence to back up what they say in an interview.

#2 Attract the right people

Once you can draw from a large pool of strong job candidates, start making sure that you are hiring people that you know will perform in the specific areas you need. It is important that these people are not only highly motivated, but also have the special set of skills to further the company, which means that it is important for you as an owner to keep your company’s interests at heart and communicate clearly to people what you need from them. Finally, don’t be afraid to change what you ask of them as you learn more about their individual skills.

#3 Teamwork and collaboration

Once you have a stellar team assembled, it is time to empower them to truly collaborate with each other. This can be a challenge for growing companies in particular, who want to maintain that small business culture even as they expand. Develop company values and your culture to demonstrate to the whole office what is really important to the business, and give employees feedback during regular review procedures. Another practical way of encouraging teamwork is designing your office to allow collaboration, as well as making sure that you yourself are accessible to your staff as much as possible.

#4 Customers and branding

Customer service is key for new companies trying to get their names out there. Focus on developing your brand and allowing your customers to help determine the direction it takes. Conduct regular surveys; ask customers what they like best about your business and run with that, developing your image in tandem with what your customers know and like.

#5 Don’t be afraid of change

Just because your company starts as strictly online or only making a certain product does not mean that you have to stay in that box. If good opportunities come along to get into other products or services or partner with other businesses, don’t be afraid to consider these opportunities, even if it means a shift from your original vision.

#6 Management and communication

Errors in management involving insular views and a lack of collaboration can have insidious long term consequences for a new business, causing problems that can be hard to find and fix. Communication across disciplines and departments in a business can be difficult and frustrating at times, but it is important for management to always approach these situations with an attitude of understanding and a desire to understand the viewpoints of others in the business. This will help create an overall culture of teamwork throughout the entire company.

#7 Learn from mistakes

A mistake is not the end of the world, but it is crucial to identify problems quickly, do everything you can to solve them, and then make sure you never repeat the same mistakes twice. But don’t let yourself dwell too much on the errors—every business, every entrepreneur deals with problems at some point, but how you bounce back from them is what is most important.

#8 Keep everyone connected

As your business grows, you will still want to keep everyone on the same page and moving in the same direction. Some practical ways to do this are to make sure people stay up to date and connected using technology, such as live streaming meetings to different locations, sharing videos, and allowing people to comment on things in a communal virtual space.

Starting a business means keeping a lot of balls in the air at once, but there is so much wisdom to be gained from those who have already succeeded on this path. Make it a priority to think about these overall goals and strategies, instead of getting lost in the day to day of conducting business.

If your business is interested in office rental space in Overland Park, give us a call at 913-685-4100 to learn more about our affordable office space in Overland Park!

How to Lease Office Equipment for Your Office Rental Space in Overland Park

One of the many expenses to consider as you move into a new office space is how to acquire office equipment. For small companies just starting out, leasing office equipment might be the cheapest and most convenient option, plus it gives you the flexibility to change out your equipment for more updated models down the line. If this sounds like the best route for your business, here are a few steps to take when renting office equipment, as suggested in the article “5 Office Equipment Leasing Tips for Startups”:

Figure out your finances. Most equipment leasing businesses will want certain paperwork from you, including financial statements, tax returns, and a written lease proposal. Since companies are interested in the soundness of your financial background, they are probably going to want to know about your credit history as well, so consider getting a credit score just to check before you start this process. Remember also that even if your paperwork is excellent, some companies simply do not want to lease to new businesses (i.e. businesses that are under two years old). When you start talking to an equipment rental company, make sure that one of the first questions you ask is whether they will work with a new business. This way there will be no surprises when lease signing time comes.
Only apply to a few companies at a time. While common sense would dictate that it is best to look at as many options as possible, when looking for office equipment try to keep it to only two prospects at a time. This is because too many different applications at once could cause leasing companies to question whether they should lease to you at all.
Look for industry specific equipment. For instance, you might be able to find rental companies that specialize in catering, printing, or some other industry, and thus they will have a good selection of equipment that is industry specific. Looking in this narrower range will ensure you get the equipment that your business needs to function.

If you are a new business starting up, you could really save some money and get some modern equipment that perfectly meets your needs by renting office equipment instead of buying!

If your business is interested in office suites for rent in Overland Park, give us a call at 913-685-4100 to learn more about our Overland Park office space for lease!

The Pros and Cons of a Virtual vs. Real Office Space in Overland Park, KS

The traditional versus alternative work environment has been debated a lot recently in the business world. The trend of alternative spaces and a more mobile workforce has been rising, but many believe that the traditional office space is not going away anytime soon. Here are some of the different perspectives on virtual versus real office spaces, as described in the article “Virtual Office? The Office is Back, Was it Ever Really Gone?”:

Virtual/Alternative Offices

In this era of mobile technology, the idea of having a virtual office is been gaining a lot of traction. A 2011 study revealed that 86% of businesses are implementing some sort of alternative workplace strategy, and another 16% of these businesses had immediate plans to implement some sort of alternative workspace. The benefits of strategies such as home offices, mobile work, or having shared workspaces that employees alternate using is that businesses can save on real estate and employees feel like they have a better balance between life and work.

The Traditional Office Space

While virtual offices offer a lot of benefits, they are only a part-time solution for most employees, and only a small percentage of employees actually use these strategies. Many still believe that the best way to interact with coworkers, access technology and tools, and productively solve problems is through face-to-face communication in an actual office space.

While technology and a growing interest in collaboration are changing attitudes about office space today, the importance of face-to-face interpersonal communication still preserves the value of having a real office space.

Is your business looking for office rental space in Overland Park? If so give us a call at 913-685-4100 to find out more about our affordable office space in Overland Park.

Redecorating Your Office Rental Space in Overland Park on a Budget

If you have done some spring cleaning already and are thinking that your office space needs a little sprucing up, remember that there are plenty of redecorating possibilities that will not break the bank. Here are a few suggestions for cost effective changes, as outlined in the article “Spring Cleaning Your Office”:

#1 New Paint

Simply adding a fresh coat of new paint can brighten up a space and make it feel like new. You might even consider using chalkboard or whiteboard paint on a blank wall to create a space for brainstorming and collaborating.

#2 Talk to a Designer

If you feel really lost about how to design an office space, consider consulting an interior designer to get some guidance on how to best work with your space. Talking to a designer once could help you make some effective changes to a space that will last for years.

#3 Update the Old

Instead of buying new furniture or office decorations, consider just updating what you have. This can be done by simply adding new fabrics, which can introduce interesting new colors and textures to a space.

Don’t overspend on office space design when there are so many effective yet inexpensive ways to give your office a facelift!

If your business is interested in office suites for rent 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!

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.

2 Types of Tenant Improvement Allowances for an Office Rental Space in Overland Park

If you know you want to make improvements to a space, the key is to address this as early as possible in negotiations. The tenant improvement allowance your landlord gives you as well as the length of your lease have an impact on the rental rate you will settle on. The two most important things you as a tenant should try to do during these negotiations is to get as much of an allowance as you can from the landlord and to also try to maintain control of the building process as much as possible. Here are two different types of tenant improvement allowances, as described in the article “Negotiating the Tenant Improvement Allowance”:

#1 Turn Key Build-out

In a turn key build-out structure, the landlord is responsible for all of the build-out expenses, which are factored into the rental rate and the plan for the office space that takes into account construction.

#2 Stated Dollar Amount

In a stated dollar amount structure, the landlord provides the tenants with the lump sum to put towards the build-out. Often this also covers any architectural and engineering expenses.

While many tenants prefer the turn key approach, there are pros and cons to both. The main goal that tenants strive for is to reduce out-of-pocket costs and to get the most out of their improvement allowance.

If your business is interested in finding the Overland Park office space for lease, give us a call at 913-685-4100 to learn more about our affordable office space in Overland Park.

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 Tips For Successful Office Rental Space In Overland Park Negotiations

The importance of lease negotiations cannot be understated. The terms you agree to will shape the finances, operation, and growth of your business. Here are a few suggestions for how be the best possible negotiator, as suggested in the article “Develop Negotiating Skills”:

Don’t be afraid to discuss – remember that negotiations are a normal and healthy business practice, so do not feel like you are overstepping bounds by wanting to discuss further the lease your landlord first gives you.
Avoid Greed – It is not about how much you can get, but how you can help your business be healthy and thrive.
Collaboration – view negotiations as a chance to work together with the other side to achieve a win-win deal.
Practice – as with all things, your negotiating skills will improve with practice.
Go for it! – You will miss all of the opportunities you do not pursue, so aim for the best deal possible and see what you come out with.

A combination of boldness and flexibility is the best possible recipe for getting a great lease for your business!

If your business is interested in executive office rental in Overland Park, give us a call at 913-685-4100 to learn more about our affordable office space in Overland Park!

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!