Tips to land yourself the Perfect Office Space
How to find the Perfect Office Space
If your company is in the market for new office space, you'll want to make sure you find the most ideal office space that suits your businesses financial, operational and size requirements. The task of finding new office space for your business can be an exciting project, but it can also be a daunting one as committing yourself to an office lease is a big decision to make.
These tips to finding the perfect office space will help you get it right:
Hire a good Tenant Rep Broker
You'll want a good Tenant Rep Broker who knows the market and is a great negotiator. He'll have extensive knowledge of what's on the market (or coming up for rent) and help you get maximum concessions from the Landlord.
Research the Landlord
Find out as much as you can about the Landlord; what other buildings they own, how long they've owned the property, their financial situation. It puts you in a stronger negotiating position.
Tour as many office spaces as possible
Don't settle for the first office space you see. Get a good feel for the market and the area by touring a wide range of possibilities with your Tenant Rep Broker - and take the Office Space Checklist with you as you tour as it will help to assess and rate each property.
Think with your balance sheet, not with your heart
The excitement of seeing a brand new space can lead to rationale decisions. Set a budget for your rent and stick to it so that you don't overstretch yourself and you can continue to enjoy your tenancy throughout the whole term without financial worries.
Read your Office Lease
When you've made your shortlist of around, say 3 office properties, read all their respective office leases thoroughly. If there's anything that's unclear ask the Tenant Rep to clarify. Remember that no office lease comes as standard so it's important you read each office lease draft carefully before making a committment.
Get a Real Estate Lawyer
Whilst your Tenant Rep Broker is completing negotiations on your behalf, find yourself a good Real Estate Lawyer to review the paperwork and ensure your commercial interests are safeguarded.
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