Why Choose UsNegotiating the Rental of Office, Retail, Warehouse, Tech, and Medical Space. You cannot go over your budget, but you must have a particular space. What do you do? Once you establish your budget, make a list of the amenities your business cannot function without, the ones you would like to have to make your life easier, and the ones you can live without for the time being.
Office, warehouse, retail, medical, and tech space negotiations are quite common today, however they are quite different from a 'straight' warehouse negotiation. Most owners would rather have a tenant on negotiated terms rather than to have no tenant at all. If you cannot afford the office space of your dreams today and they will not move on the rental price, negotiate several rent-free months of occupancy. A landlord may refuse to offer a reduce rent rate because it may negatively affect the value of the building, therefore they are more likely to provide free rent for a few months as a compromise.
You might also negotiate a number of office elements that you might normally be required to purchase. Negotiate a fully furnished office space or that they provide various items such as a commercial copy machine and beverages for the break room. Do not forget to negotiate green initiatives if the office building has not yet made any environmental enhancements.
Another growing trend is shared office space where several businesses are in one office space, rather than simply one building. These businesses share all office amenities, supplies, conference rooms, floor space, etc. If you are a small business looking have a more professional appearance without having to rent an entire office, this may be the ideal office space solution for you. If you find a space you must have and cannot afford it even after price reductions and free rent, try to negotiate this trending real estate concept into your lease and seek out other tenants to share the space.
General Tips for Leasing Office, Warehouse, Retail, Medical, or Tech space. Do not be afraid to ask for both reduced rent and free months. This is a growing trend at the moment and the more it becomes commonly suggested the more likely landlords will accept it. Do not let amenities blind you to the reality of the price. If you walk into an office space and you immediately feel as though it is perfect, start asking questions. Are the amenities included? Who pays for the utilities? If these are not included, you may not be able to afford to rent office space of this caliber. Be mindful of Percentage Rent when you rent commercial office space. Some landlords try to include this concept into a clause in the lease; wherein, the landlord would begin to receive a percentage of the profits once the company begins to earn a specific amount of revenue after they officially open their doors. At the same time, startups may be interested in this type of rental agreement. Is room available for expansion in the office space or building before your lease reaches an end? You should consider this prior to signing any papers. You might negotiate terms to secure any additional space in the same building the moment it becomes available. Ask to see the 5-year plan of the landlord for the building and space before you lease office space. If the building is not yet a smart building with Wi-Fi capabilities, a motion detector lighting system, outdoor work spaces, etc., you should ensure the landlord intends to provide these elements in the very near future to ensure employee productivity is at capacity, to appeal to today’s evolving talent, and to reduce operational costs for your business over time.