Acquiring office space for the first time is a monumental success in the history of any business. This shows that the business is successful and enormous enough to have its own dedicated space. If you are starting out trying to find an acceptable commercial space for the first time, congratulations!
As difficult as it may be to get to this point, finding your spot is not a walk in the park either. You’ll need to carefully screen properties, negotiate the terms of your lease, and obviously, hope you do not end up stuck with a bad landlord or problems with space for a full year or more, depending on the lease. provision.
In addition, it’s worth considering your company’s carbon footprint. A place that makes paperless offices easy and helps save energy with items like commercial LED lights should be part of your priorities.
To help you make the right choice, here are some do’s and don’ts to remember:
Do it: Keep your successes private.
You should not come off as flippant and like your business is running out, but that does not imply you should also openly flaunt your success. The more successful your sellers think you are, the higher they think the price will be. Even established businesses will want to rent in prime space (similar to the kind found if you Click here) make sure to play their hand carefully. Demonstrate a mood of success without carefully defining how far-reaching it’s. This applies even after you get your lease, because the proprietor may increase your rent in a later agreement if they see you are doing pretty well.
Don’t: Take the first offer.
Negotiations do not really start until the first bid is made. Negotiation is part of this business, so most initial bids are higher than they should be with the understanding that you’re going to be bidding all the way down to the price they really want. In fact, the first offer is usually used to gauge your negotiating skills and tactics. It wouldn’t be impolite to negotiate for more favorable terms.
Do: Talk to other tenants.
Ask people who have been in the space, in addition to those currently using the space about their experiences in the building. Make a good note of comments about the owner, how the property is managed, and whether or not there are any major issues with being headquartered there. Their third-party opinion must be much more biased than what the owner or broker says about the property, because they gain nothing from telling the reality.
Don’t: Forget to ask for a renewal incentive.
The last thing any landlord wants is for the great tenants to leave. The time it takes for a tenant to move in, in addition to securing a new one, are all lost income on the mind of any landlord. When you first negotiate your lease, make sure to get some renewal incentives in writing. These incentives can be anything from a discount on rent during certain months to a tenant’s allowance, even a guarantee that the rent will not increase by a certain percentage by the time the next round of negotiations is in your hands.
Conclusion
This list is hardly complete as there are numerous things you need to pay attention to during the buying process. At the same time, we found that these four tips are some of the most significant steps to make sure you do not end up with a property lemon. Once you sign a contract, you are there eternally, so due diligence is extremely important.
