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Essential Questions to Ask Before Renting an Office Space

January 10, 2018

All business owners want an office space that will help their company grow and thrive. At the same time, every business owner will have different and specific desires when assessing office spaces. When you are looking for a place to rent for your office space, consider asking your potential landlord these questions to help you make an informed decision about whether the office is the right fit for your company.

How Much Square Footage Is Available for Rent?

Having enough space to optimally conduct the goings-on of your business is extremely important. Employees will be less productive if they have to work together without enough space and privacy. Also, you may be embarrassed to show clients your office space if the conditions look cramped or otherwise uncomfortable for your workers.

On the other hand, having too much space can be wasteful. It’s important to figure out how much square footage you need before starting to look for an office space.

What’s the Length of the Rental Contract?

This is one basic question that is more important than many people think. A lot of business owners will dismiss this question because they assume it will be possible to extend short-term leases or get out of long-term ones if the need arises. However, business owners often get rude awakenings on this topic.

Some business owners must find a different office space not long after finding the first one because they weren’t able to renew a short-term contract. Others have the opposite problem and may find themselves wanting out of a long-term deal before that’s possible.

It’s important to consider the unique needs of your company before deciding how long you want your lease to be. Some reasons you may want to have a longer lease include:

Securing an Office Space You Love

If you find a place to rent that you absolutely love, a long-term contract may be the way to go. That way, you know you’ll be able to hang onto it for a longer period of time.

Providing a Sense of Stability for You and Your Staff

You will be able to plan the goings-on within your company with a clear sense of where your company will be in a few years. Having a reliable office space for employees can help everyone feel more confident in the company.

Building Your Reputation

Having a secure office space can also help you build your reputation as a company. Customers who know a business moves around a lot may not trust it as easily as one with a consistent and reliable locale.

Planning for Your Company’s Financial Future

A long-term lease will allow you to map out your exact expenses for the coming years. Thanks to the contract, you will know exactly how much money you will need to set outside for rent each month without having to guess and hope for the best.

Having More Room for Negotiation

When you are signing a long-term contract, the landlord may be a bit more flexible on terms. You may receive more tenant incentives and concessions if you are willing to accept a long-term lease.

Only you can decide if a long-term lease is best for your company.

Are You Open to Covering Improvements or Changes to the Floor Plan?

If you are interested in an office space but want to make some changes to the floor plan, talk about it up front. You may even want to ask this if you have no immediate plans to change things. If it’s a possibility for the future, it’s a good idea to know your options.

If the landlord is unable to cover the costs of changes to the floor plan, you may want to follow up the question by asking if you can do it yourself. Some property owners will be fine with changes to the floor plan, while others may have things a certain way for a reason and not have the flexibility you want.

How Much Will the Rent Payment Be Each Month, and Will It Go Up in the Near Future?

It may be basic, but this question is essential. You need to know the full amount you need to calculate into your monthly budget. That will be a fixed expense that needs to be a priority. If you think that you may have problems coming up with a rental payment, it is too high for your business, and you should go for something that you feel is manageable for your company’s budget.

Finally, make your own list of questions based on what you most want to know. Feel free to have an open discussion with your potential landlord. You need to be in an office space that you love. The place where you do business each day will have an impact on every aspect of your company.

If you are looking for an office space to rent in Dallas, Houston or San Antonio, contact Hartman Income REIT Management, Inc. to find the perfect place for your company.