YOU’VE MADE THE DECISION TO EVALUATE YOUR OFFICE LEASE, NOW WHAT?
Whether you want to renegotiate your current contract or move offices altogether, here are a few questions to consider. When do you start looking at your options? What do you need to know before you start touring properties?
Knowing what questions to ask as you start the pre-leasing process will help you align your business with the right space.
Hartman’s Office Pre-Leasing Checklist will help you plan in advance of the negotiation process.
CONSIDERING AN OFFICE MOVE?
Here are 4 things to consider before making your office move.
1. Is staying at your current location the best opportunity?
Sometimes staying at your current location can be the best option for your business. Looking at your leasing options may help you save money in your renewal negotiations.
2. Is a relocation the best fit for your business? Ask yourself:
- What reasons do you have to consider relocating?
- Would it help your business?
- Would it help your brand?
- How much are moving costs?
- What are the operational costs differences?
- Tenant Improvement costs – How much does the landlord give for tenant improvement allowance or will you be covering all expenses?
3. How far in advance should you plan ahead?
- When should you start looking? You should begin your market research 6-24 months before your current lease ends.
- When should you start planning to move? Finding the right space and negotiating your lease may take quite a bit of time. Starting the process 6-24 months ahead of time is essential to being fully prepared for an office move.
- Who needs to be involved in the move?
- Decision makers such as executives.
- HR to support employees through the moving process.
- IT to ensure easy transitions for all your technology needs.
- Marketing for advertising the new office location.
ARE YOU READY TO START YOUR NEW OFFICE SEARCH?
Ask yourself these questions before touring new potential property and office space.
1. Consider the future of your business.
- Are you growing? Look at your employee statistics in the past 5 years to project your growth.
2. How will the location of your business affect your customer base?
- Do your customers come to your office for your services or do you have off-site services?
3. How will the location of your business affect your staff?
- Is it centrally located by most of the employees?
- Will it affect their commute times?
4. How does your office space fit your overall business plan?
- How many private offices will you need?
- Will you need bullpen and cubicle space?
- Do you need conference rooms?
- Will you need storage or filing rooms?
5. Will your new space be available when you need it?
- Time your move accordingly to the space that best fits your business
- What the building looks like will reflect on your business.
2. Does the building office hours match your business hours?
- Finding a location with the appropriate office hours will save you non-business hour charges for HVAC.
3. Building safety and security
- What type of security does the property offer?
4. Surrounding neighborhoods
- How much does your staff network? Do they require a variety of restaurants and entertainment venues nearby?
5. What are the on-site amenities?
- Does the building offer lunch options, such as a deli, self-service market, or food trucks?
- Does the building have a gym?
- Does the building have a conference room?
- Does the building have a tenant lounge or break room?
6. How can the building showcase your business’s signage?
- Do they have a monument signage available?
- Do they have building signage available?