Questions to Ask When Analyzing Your Business’s Overland Park Office Space Needs

Before you make a decision on what kind of office space you want—small or large, short-term or long-term lease—it is important to carefully look at your business and decide what you need in a space. Here are a few questions to consider as you plan for a new office space lease, as suggested in the article “Basic Square Footage Needs”:

  • What kind of growth do you anticipate for your business in the next year? In the next five years? Having some idea of how much you will grow can help you determine both your space needs and the length of a lease.
  • How do you typically interact with your clients? Do they usually come to your office space, or do you use technology to get in touch with them? This will determine what you need in terms of waiting rooms or reception areas, versus what kind of technology you need a space to be fitted with.
  • Will you need an increased number of employees in the next few years? If you know that certain projects or growth will require an increase in your staff, be sure to think about where exactly you will put them.

These kinds of questions can help you determine whether you need to think big vs. small, or short term vs. long term when it comes to your office space lease!

If you are interested in renting office space in Overland Park, KS, give us a call at 913-685-4100 to find out more about our affordable office space in Overland Park!

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Pros and Cons of Ending Your Kansas City Office Space Lease Early

Before deciding to terminate your commercial lease early, it is important to weigh the pros and cons of this decision.  Here are a few things to consider, as suggested in the article, Advantages to an Early Commercial Lease Termination:

Pros:

  • If your business can no longer afford the space you are in, you will be freed from rental payments, as well as financial responsibility for utilities, maintenance, etc.
  • You will be freed from legal ties to your landlord.
  • You will be able to move anywhere you need to.

Cons:

  • If you do not observe the correct legal procedures, you might still be held to your lease responsibilities even if you leave the space or your business shuts down.
  • If your landlord finds you to be in breach of contract, you could face significant legal consequences including paying the full rent on your lease at once, incurring major financial damages, and dealing with attorney fees.

If you are thinking about breaking your lease, make sure you talk to a lawyer to make sure you are following the proper legal steps.  Your lease might have provisions that allow you an early way out if you find yourself financially unable to continue in a space, but if you do not adhere to the proper provisions you could find yourself incurring even more of a financial burden.

If your business is interested in office space in Overland Park, KS, give a commercial real estate broker in Overland Park a call at 913-685-4100.

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5 Ways to Improve Your Overland Park Office Space: Part II

If your New Year’s resolutions are waning, here are a few ideas from the article 5 Resolutions to Make Your Work Life Better Next Year to kick start your motivation again:

3.      Get Organized…and stay that way.  Everyone’s to do list covers getting and staying organized.  Help yourself stay accountable to this resolution this year by designating an “organizing buddy”—someone who will also resolve to get organized and will check in with you.  Organizing an office space will both help you work better and clear out some mental clutter for the New Year.
4.      Be a more considerate coworker.  Try to make 2014 a great year for everyone in the office by making an extra effort to keep your fellow workers in mind during your workday.
5.      Be “Work Happy.”  The most important resolution is to choose to try to be happy with your job.  You spend the majority of your time at work, so resolve to make the most of it.  The other resolutions are steps in that direction, but ultimately you have to choose to make your time at work worthwhile!

Any time of year is a good time to think about how you can improve your work habits and environment!

If you are interested in office space in Overland Park, KS, give us a call at 314-239-6396 to find out about our available affordable office space in Overland Park!

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Have You Considered Sharing an Overland Park Office Space?

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:

  1. 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.
  2. 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.
  3. 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!

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Tips for Considerate Communication in Your Office Space in Overland Park, KS

In this age of technology and quick communication, it is important to master the art of communicating efficiently and courteously.  Here are a few tips for practicing communication etiquette:

  • Voice Mail – Make sure your voicemail message is personalized.  People may be confused and not leave messages if you have a standard voicemail greeting that gives only your phone number.
  • Quick Responses – Make sure you return all phone calls and emails within 24 hours, even if your response is simply a note saying you will get back to the person soon.
  • Speakerphone – Always ask someone before you put them on speakerphone.
  • Proofread Emails – All work emails should be free of spelling and grammatical errors.
  • Include the Subject – Make sure you always fill in the subject box of an email with a relevant and concise title to ensure easy access to the conversation if you need to find it later.
  • Be Kind – Emails present the temptation to say things we would not normally say out loud, but make sure you never write anything you would not say to a person’s face.
  • Be Aware of Formatting – Doing things like underlining, bolding, italicizing, or making a font bigger can make an email seem more aggressive than you perhaps intended.

Practice good communication skills in your workplace, especially via technology, until they become a habit!

If you are interested in learning more about office suites for rent in Overland Park, give a commercial real estate broker in Overland Park a call at 913-685-4100!

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Checklist of Questions When Looking For a New Office Space in Overland Park: Part IV

Looking for a new Kansas City office space can be quite a process.  There are a lot of steps and a lot of different options to consider.  Here are a few final questions to sit with before you settle on a space:

8. Should my business rent or buy an office space?
Both options have pros and cons.  Several factors to consider are up-front costs of buying or leasing the space, expansion possibilities, changes in value, and building management.  The benefits of leasing are more inexpensive upfront costs, simpler options for expansion, and fewer responsibilities when it comes to maintenance.  However, if the conditions are right, owning a building could be beneficial because the value of the space can appreciate.

9. What is the best kind of lease for my business?
If you do decide leasing is your best option, you need to be aware of the different types of leases.  Two types of commercial office space leases are net and gross leases.  The difference between the two is who is responsible for various costs and maintenance.  Net leases can be more expensive because costs can change and the landlord has the option of passing along certain additional expenses to you the tenant, while in a gross lease all costs are included in your monthly rent rate.  Fluctuations in expenses can range from property taxes to unexpected maintenance and repairs to the building.

These are just a few of many questions to carefully consider as you look for a new office space!

If you would like to set up a tour of an office space in Overland Park, KS, give us a call at 913-685-4100!

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10 Things You Must Know Before Signing a Small Office Lease in Kansas City

Before you sign an office space lease for your business, there are a few facts you should know.  Here are some things to keep in mind before you sign the dotted line:

  1. Take the time to do your homework.  If you rush through the process, you will not be able to properly evaluate the marketplace to make sure it will fit your business’s needs during your tenancy.  If you are approaching a lease renewal, give yourself plenty of time to negotiate so you have plenty of time to transition to a new space if you cannot settle on agreeable terms.
  2. Business leases are not like residential leases.  Know in advance that a business lease will be completely different than a personal dwelling lease, which typically only includes a set monthly price and utilities.  In residential leases, the government protects the interests of the tenant and the landlord is responsible for repairs.  In business leases, there are expenses that you will be responsible for above and beyond basic costs, and the government does not offer the same kinds of legal protection.  Everything will be in your lease, so make sure you understand what expenses you are responsible for as well as the legal rights of both you and your landlord.

Don’t get stuck in an unfavorable lease by rushing through the process!

If your business is looking for a new office space in Kansas, give us a call at 913-685-4100 to find out about our available office space in Overland Park, KS!

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10 Tips for Moving Your Business to a New Kansas City Office Space: Part IV

Before you start to pack up and move your business to a new office space, be sure you plan out every aspect of your move, from how you are going to label your boxes to whether your office items are adequately insured.  Here are some more tips for making sure you don’t miss anything:

7.    Packing Electronics.  Printers are sensitive pieces of technology just like computers and also do not belong in boxes.  You will need to remove cartridges, tape down any scanner lids or covers, and look for specific instructions for moving your copiers, printers, and FAX machines.  Damage to these devices from improper moving could void your warranty.

8.    Make sure you are insured.  If you rent a truck for moving, make sure you get insurance coverage.  Many private insurance policies might cover damage to a rental car, but it is rare that they will cover damage to a rental truck, which is considered “equipment.”  If you are hiring a moving company, ask them about your insurance options for protecting your items, and ask to see the company’s proof of insurance and worker’s comp insurance.  If they do not carry insurance, you could potentially be held partially liable for moving-related worker injuries.

Thinking about all of these details before starting the moving process could save you some stress, time, and possibly even money in the long run.

If you are still looking for that perfect Overland Park office space for lease, give us a call at 913-685-4100 to find out about our available office space in Overland Park, KS.

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10 Things To Do Before Signing a Small Office Lease in Kansas City: Part I

You have found the perfect office space, negotiated your rent, and now you are getting ready to sign the dotted line…before you do, here are some things you should double check:

1.    Read the lease.  Though it may be long and not the most exciting reading, you need to know what is in your lease.  Check terms, important dates, anything rent-related, your obligations, your landlord’s obligations, special terms, and termination clauses.  You want to know exactly what you getting yourself into.
2.    Continue negotiations.  Even though you have been given the lease, some of the terms might still be negotiable.  While reading your lease, take note of provisions you aren’t thrilled with and talk about with them with your landlord—you might be surprised at what you can still change.
3.    Figure out your business’s legal structure before signing.  Make sure that protective corporate shell is in place before finalizing your lease.  Be sure that your filed Articles of Incorporation or Organization (sometimes called Certificates) have been returned from the Secretary of State.
4.    Understand the leasing terminology.  Know terms like “Common Area Maintenance” (CAM)  and how they will affect your business and rent rate.

See future posts for more items to double-check before finalizing a lease for your office space in Overland Park, KS!

Want to learn more about Southcreek’s business space for rent in Overland Park?  Give us a call at 913-685-4100!

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Loan Agreements for Office Space in Overland Park KS

Once a lender decides to offer a loan to a business for commercial rental property, they will present the business owner with a commitment letter, or loan agreement, with the terms included.  The loan agreement will usually include the following components:

  • The length of the loan
  • Interest rates (either variable or fixed)
  • Purpose of the loan (construction on a property, renting of a new property, refinancing)
  • Closing conditions
  • Affirmative and negative agreements regarding what the borrower does and does not agree to do
  • Owner occupancy requirements
  • Warranties and representation.

Once the borrower and lender have finished negotiating the terms of the agreement and mutually agree, the deal is closed, and the closing process for commercial real estate is usually more involved than for a residential mortgage, owing to different factors that might have to be considered in the process (everything from subleasing to zoning ordinances).  This process could take up to two or three months, in some cases.

When negotiating a loan agreement to fund your office space rent in Kansas City, the key is to find a lender that will best meet the needs of your business and allow it to grow.  Knowing the ins and outs of how to find and negotiate a loan can help put your business on track for growth.

If you want to find out more about affordable office space in Overland Park, give us a call at 913-685-4100!

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