Have you ever leased office space? If you have, you know there are a lot of things to consider such as locating the best spaces, negotiating the lease, and then modifying the layout of the space in a way that meets your business needs. If you haven’t ever rented office space then the office leasing steps below will help you get started.
Know What You Need
Before you start searching for office space think about how it will be used and what for. Will customers visit? Where do your employees and executives live? Are you going for an open layout or do you need more hard walled offices?
- What size in SF do you need? – This typically depends on office layout, # of employees, and parking ratio of the office building. Open office concepts require less square footage. Read here to learn more about things to consider regarding size of space you need. You can also checkout our office space calculator.
- Ideal Location – Here you must consider your customers, the executives, employees (for recruitment and retainment), nearbye transportation and airport, and other amenities.
- Type of Space – Do you need to be in a really nice Class A building or an executive suite that would allow you to sign short term leases?
Start Searching For Office Space
Here you can do it on your own (if you have the time and expertise) or work with a local tenant representative who can help you save time, find the right space, and negotiate the lease to ensure you get the best possible deal. If you search on your own you can search via the internet however keep in mind that a lot of the office space listings are either outdated or do not provide all the info. You can also call “For Lease” signs.
Once you find some offices that could work get the floor plans and rate info. Then schedule defined times to tour them so you can compare each one. Ask the landlord or listing agent lots of questions and know exactly who pays for what.
Negotiate The Office Lease
When negotiating an office lease there are hundreds of commercial real estate terms and clauses that you must be aware of. Focus first on the rental rate and lease term then focus on other expenses, tenant improvements, etc. At the end of the day it’s a good idea to hire a real estate attorney to ensure you don’t make any mistakes.