6 Tips For Leasing Office Space: Part 4
Office space is generally the second biggest business expense behind employee salaries.
Salary expenses can be decreased when needed, but office leases are typically locked in for 3 to 5 years.
Think of it as the Olympic Games: if you show up underprepared and unfocused, you’ll be stuck with that mediocre performance for the next 4 years.
And yes, I am comparing your reading a quick article about office leasing to the rigors of athletic training at the Olympic level.
You’re basically a 10-minute read away from a metaphorical business gold medal. Do it for America!
If you haven’t already, check out Part 1, Part 2 or Part 3 of this post for our best recommendations for leasing office space in the Sacramento area. This is a multi-part series for 6 tips to consider BEFORE you sign your next office lease.
Imagine you have a debilitating leg injury that will absolutely require surgery. In this scenario, you have two options:
Alternatively (Not Recommended):
What does this have to do with leasing office space? Every day, unknowing business owners are metaphorically performing surgery on themselves when they refuse free representation and run their own office search. Tenant Representation brokers (like the writer of this article) offer FREE services to companies that need to lease or buy office space. Our commissions are paid by office Landlords so the services are free to you. All you have to do is tell them what you need and they’ll scour the market on your behalf. They’ll present list options, you’ll tell them which ones you want to tour, and then they schedule the tours in a time-efficient manner. They’ll do all the legwork (pun intended) so you can focus on what you do best: running your business.
Tenant Representation Brokers know the quality of the buildings and the reputations of the Landlords. They know the market and can make recommendations during the lease negotiation. They are an experienced second opinion to spot potential issues before you sign a lease. Did you confirm the zoning was ok? Is the parking going to be too tight when a neighboring suite eventually gets leased? Do you understand what expenses are included in your base rent so you aren’t unpleasantly surprised later on? These are important questions to ask, but you may not know to ask them.
We understand your business is an extension of you and it doesn’t easily rely on someone else for a major business decision. Just remember that a Tenant Representation Broker is simply a free consultant. Their job is to present options, but the decision is ultimately yours to make.
Overall, finding office space can be a time consuming, headache-inducing, and non-transparent at times. If this article helps one business owner avoid at least one potential pitfall, I’ll consider the entire process a success. Remember that your office lease negotiation comes around roughly as often as the Olympics so you need to prepare accordingly. With some strategy and expert coaching (give us a call!), you can be the Michael Phelps of office space leasing. We realize that’s a less exciting version of Michael Phelps, but you’re still on the podium.