Leasing office space is one of the largest operational expenses your business will have. Because of that it’s important that you ask all the right questions to make sure the space(s) you are interested in meet your company’s business needs. While there are a lot of things to consider when searching for the right office rental space below are a few questions that you should find out the answers to before signing an office space lease.
- What is your quoted office space rental rate?
- What all is included in your rental rate (e.g. electric, janitorial, operating expenses, etc..)?
- Will you give free rent?
- What is the common area factor for the building?
- Is the square footage you are quoting usable square feet (usf) or rentable square feet (rsf)?
- How long of a lease term are you requiring?
- Can I get a copy of the floor plan?
- If I need changes to your floor plan (e.g. new walls, carpet, paint, etc..) Are you open to paying for any improvements?
- Who are the other tenants in the building?
- What is the parking ratio of the building and is there an extra charge for parking?
- How many parking spaces am I allowed?
- What signage opportunities are there in the building?
- What telephone and internet providers service the building?
- Is the building for sale or are you planning on selling or refinancing the property in the near future?
- How much money is required at lease signing?
- Do I have control of the thermostat in the space?
- Who is responsible for repairs or maintenance in my space?
- How much is after hours HVAC?
Above are just a few questions you must ask and get the answers to before signing an office space lease. Many tenants don’t take the time to get all the answers however if you do you will be better equipped to negotiate the best deal on your next office space transaction.