Today's Tenant Rep Tuesday Tip topic: 4 Tips for Tenants when Renting Commercial Office Space
Here's some guidance to renting and leasing commercial office space as a Tenant.
Take the Time to Find the Best Office Space: If you sign the first office lease that you see you are potentially missing out on other opportunities or spending more than you need to. Finding the right office that meets all your wants and needs takes a lot of time, so consider hiring a commercial realtor that specializes in helping tenants and buyers find space.
Review Employee Feedback: While you don't want to give them total control, it would be wise to get their input. For one you will make them feel important knowing their input helped determine the location. Additionally, by engaging employees (letting them see potential sites, provide feedback, etc.) the less risk of them leaving the company decreases.
Negotiate: Always negotiate when leasing office space. If you wait until the last minute, you give the landlord an edge, however, by starting early, you have the time to analize and make the best decision for your business. Spending just a little time negotiating can save you thousands.
Keep Your Needs in Mind: As hard as it is entrepreneurs, startups, and existing businesses - you need to forecast future space needs. Underestimate your needs and you end up having to relocate sooner than later and in some cases you have to also sublease your old space. If you can anticipate your growth then finding an office lease that will accommodate that will be easier.
These office lease tips are only just the beginning, however if you follow them you will have a better experience in leasing commercial office space.
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