Once you have decided that you want to find Overland Park office space for lease for your business, you will want to consider the ideal length of your lease term. Sometimes determining lease length can be difficult, because landlords typically want longer leases to secure better financing, whereas tenants are looking for flexibility, which usually means a shorter lease. Here is some information to consider as you think about the ideal lease length for your business:
- Tenants who know they will have stable and predictable occupancy needs should try to get longer leases in order to get more favorable lease rates.
- Tenants who are quickly growing businesses should try to negotiate leases that allow for expansion rights, permission to sublease their space, or the option to terminate the lease with renegotiated fees.
- Retail tenants usually choose the longest leases—sometimes over 25 years.
- The average lease terms for office and warehouses leases is usually about five to 10 years, and often tenants have the ability to negotiate one or two lease options that extends the lease term for five years at a time.
As you begin looking into different office space leases, think about what lease length is most ideal for your business’s needs!
If you want to learn more about how to find your ideal office space lease in Overland Park, KS, give us a call at 913-685-4100!