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.
Common misconceptions when renting office space. Renting Tip #1: You must accept the space as is.
Try to never accept the space exactly as it is and be certain you include a clause that you have the right to change the space as you see fit during your tenancy. You should try to negotiate the space to include as much as possible and to look exactly as you wish before you move in. You should also be realistic. If the space is completely bare or basic, it is unlikely you are going to receive a full makeover at no additional cost to your business. Renting Tip #2: It will not help to speak with other tenants in the building to improve the building and office, warehouse, medical, tech, or retail spaces.
You should all work together to see greater changes and changes that occur with increased frequency. Again, try to be realistic in your demands as they, too, have bills to pay. Renting Tip #3: Once the space is mine, I can do anything with it I choose.
This is far from the truth. A lease will be very specific about the type of business activity allowed on the premises in the Permitted Uses section of the agreement. If you choose to diversify your business or change the concept altogether, you must remain in accordance with your original contractual agreement or speak with the landlord to include an addendum to the contract to protect your company in full.
As long as you consider your needs for an office, retail, medical, warehouse, or tech space and its location, the best approach to negotiations, and the general tips and misconceptions of the commercial space real estate industry, you will be certain to find the optimal office space for the needs of your company.