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Things To Consider When Leasing Office Space

by Guest on Oct 15, 2012 Real Estate 1375 Views

When starting a new business or if you're thinking about expanding, one thing that you will need to have is an office space. If your business is just starting out, buying one might not be possible at the moment. You should consider leasing in order to have the space that you need for a lower cost. Leasing an office space will also be an advantage if you feel like you might need more space for your growing company and transfer to another one.

However, before leasing a space, there are things that you should keep in mind.

1. Location of the office space

The location plays a very important role. You should find a space that is located in an area where your business needs can be met. If your business requires that you get situated in an area that is easily accessible for your clients, then find an area that is located within the city. Don't immediately go for an office space that is being offered for a low price without trying to see the location first.

2. Terms and conditions for leasing

When you decide to lease, you will need to abide with the terms and conditions that come along with it. Try finding one that offers terms and conditions that you find favorable for you. Make sure that you at least try to come up with four options to choose from. This can allow you to compare which one offers the best deal for you. If you want to get the best deals when it comes to office space leasing terms and conditions, you might want to consult with professionals. Real estate agents nowadays can help you in finding competitive lease deals.

3. Possible need for expansion

If your business is just starting to grow, you may need to expand your office space further. When you expect that you might require an additional space to expand your office, you should lease an office space that allows that. If you want to expand later on, you might want to discuss it with the owner beforehand.

4. Legal documents and agreement

When you decide to lease an office space, you will be required to sign an agreement. Before doing so however, make sure that you have read through the legal documents and the agreements stated. If you find certain clauses in the agreement confusing, you might want to consult the aid of a lawyer to help you sort it out. It would be best to understand what you're agreeing to, rather than getting bothered by it later on.

5. Renovations and utilities

Before leasing an office space, you should have a good look at the place. Try to see if it still needs some renovation and how much it would cost. You should also determine whether you'll be shouldering the cost or would the landlord be covering the cost for renovating the place.

You should also try to inquire about the electricity bill, thermostat regulation, garbage collection and other utilities before agreeing to lease the office space.

Gary Meurer is a business writer who likes to share information on office space NYC and Manhattan office space as well as related office ideas.

Article source: http://www.appraisalarticles.com/Real-Estate/3883-Things-To-Consider-When-Leasing-Office-Space.html

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