Common Mistakes Made when Looking for Office Space
Office Space Selection - Mistakes To Avoid
When it comes to choosing an office for your forthcoming office relocation, don't fall into the trap of making these mistakes that are commonly made by many companies moving office:
Not Using A Tenant Rep Broker
Trying to find the right office space yourself will undoubtedly leave you choosing the wrong office space alongside a poorly negotiated office lease deal. Using a Tenant Rep Broker will give you powerful leverage to get the best deal and help negotiate against the landlord for every possible concession.
Too many companies rush into choosing an office space because they have not factored in enough time to make the right, informed decision. Looking for space, then negotiating the intricacies of the office lease is a time consuming process. Try to work at least 9 -18 months in advance of your office lease expiry.
Paying The Sticker Price
All office lease terms are negotiable. And the initial draft of the office lease you will receive from the landlord will only set out their own intentions without considering your playing field. A good Tenant Rep Broker will make several counter offers on your behalf to negotiate for better lease terms. Never settle for the landlord's initial proposals.
Not Considering Future Growth Factors
Many businesses fail to factor in where their business might be towards the end of the proposed office lease. This only results in them outgrowing their office space too quickly; with staff feeling cramped, de-motivated and a growth-stunted business.
Not Getting Legal Representation
Reviewing your own office lease dangerous, risky and could lead to serious financial consequences further down the line. A Real Estate Lawyer reviews office leases for a living - and they know how to sift through an office lease, identify the potential pitfalls and protect your commercial interests. Make sure you use one!
Choosing office space is a crucial decision that can make or break a business so make sure you take your time, get the right advice and shop around to get the best deal possible. Refer to the free guide to Choosing Office Space.
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