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!
Sometimes a deciding factor when choosing an office space is not its location, but the building facilities. Facilities need to be either appropriate for or adaptable to what you want to do at your location. For instance, if you want to open a coffee shop, you will need some sort of kitchen area. If you cannot convince a landlord to make those kinds of adjustments for you, it will most likely not be worth it to pay for it yourself. Here are a few things you should make sure a space has before you seriously consider moving into it:
Electricity and Heating/Cooling
It seems like a simple thing, but do not overlook electrical power as a factor in choosing an office space. Be sure that the space has enough power to meet your needs, both in terms of circuit capacity and amount of outlets. If your business uses sensitive computer equipment, talk to the landlord about how many hours of air conditioning your lease includes, and negotiate for longer hours if needed.
In the age of technology, another important consideration is having modern phone and other data lines available in your office space. Find out specific information about the type of communications wiring, as well as who has the rights to the risers (wire conduits) in your space. Sometimes landlords enter into contracts with specific providers, and bringing in a different one could be expensive.
Look into these things before signing a lease for a space, because bringing in these amenities yourself could be pricey for your business.
Give Kathy Woodward at DDI Commercial a call at 913-685-4100 to find out about available spaces in a Southcreek office building in Overland Park!
If you are looking to move your business into an office rental space in Overland Park, one of the first things you need to determine is what kind of space is best for your business. There are a few different kinds of business spaces that you can rent, all tailored to different types of businesses and their needs. Here are some details on two more types of office spaces your business might consider leasing:
#2 Traditional Office
Traditional office space offers self-contained units that typically include things like conference rooms, reception areas, etc. This offers some privacy for your business and a more robust image than shared space (as in the case of executive suites). Typically, all of your fees for a traditional office space are included in rent.
#3 Flex Space/Office Warehouse
Some businesses need loading docks or warehouse space, so flex space can be a good option for these businesses. Flex space, which is also called an office warehouse, has both a warehouse area and office space. It is typically smaller than a full scale industrial space and often comes without all of the leasing hassles involved in renting industrial space. These spaces are ideal for smaller businesses and start-ups that need the flexibility of having both a warehouse space and traditional office space.
Make sure that your business is looking into renting the type of space that is most suited to your particular needs and financial situation!
To find out more about office lease rates in Kansas City, give us a call at 913-685-4100!
Since signing a lease is such a huge financial commitment for your business, you need to be well aware of when not to lease. Be sure that you understand all of the terms of your lease, and if you are having difficulty with some of the legal wording, it might be worth having a lawyer review the lease before you sign. Here are a few “red flags”—bad lease terms—to on the lookout for as you consider your lease:
- A Lease that is Longer than Two Years – Small business owners do not want to find themselves stuck in a long term-lease, because if you find yourself having to end the lease for any reason, you will be forced to keep paying rent anyway until the landlord finds a new tenant for the space. In this situation, a landlord does not have a lot of incentive to rush to find a new tenant because you are financially committed. In a rough economy, landlords will try hard to get you to sign a 3-5 year lease, but try to avoid this. Your best option is a one-year lease with a renewal clause; you might have to compromise and sign for two years—but do not agree to longer than that. The longer your lease commitment, the more limited your business is if it outgrows a space or needs to move for any reason.
- Forfeiting Your Legal Rights – Sometimes a lease agreement can force or trick you into handing over certain rights that may or may not be enforceable. But do not take chances with this, and in particular do not sign over your right to take legal action against your landlord if necessary.
Check back for more red flags to look out for as you are reviewing final drafts of your lease!
If you are interested in finding office rental space in Overland Park give Kathy Woodward at DDI Commercial a call at 913-685-4100 to find out about Southcreek’s available spaces!
Looking for a day of golf and a good cause? Check out SAFEHOME’s 19th Annual Golf Tournament at Nicklaus Golf Club at LionsGate! Nicklaus Golf Club is located at 14225 Dearborn Avenue near our office park in Overland Park.
The tournament, sponsored by Kenny Thomas’ Olathe Toyota and Lee Jeans will be a four-person scramble at one of Kansas City’s premier golf clubs. The tournament will take place on Monday, April 30, 2012, and will begin with a light breakfast, registration, and a putting contest from 8:30-9:15 am. Shotgun start will take place at 9:30, and after the tournament there will be lunch, awards, and a grand prize drawing. The Early Bird registration cost is $145 per player/$580 per foursome, so be sure to sign up by March 30th! Register online, or if you are interested in supporting SAFEHOME through sponsorship, download a sponsorship packet.
Proceeds from this tournament will support the non-profit organization SAFEHOME. SAFEHOME is a shelter that strives to meet the needs of victims of domestic violence in their community. The organization provides a variety of services, including a 12-week shelter program for women, a specialized children’s program at the shelter, outreach counseling services, and legal and healthcare advocacy. SAFEHOME’s goal is “to provide a healing atmosphere where survivors can gain inner strength, build self-esteem, explore options and establish a life free of violence”.
If you are interested in finding out more about a commercial office for rent in Overland Park near community events like these, check out our website or give us a call 913-685-4100!