Over the past few weeks, we have added to our series of helpful tips for businesses starting to look into leasing. This post is the tenth of 10 on the essential questions you should ask before signing an office lease, concluding this blog series.

This Week’s Question: How long does the average Tenant stay in the building?

When you go to a restaurant if you notice no one is there, or people are walking out angry, the safe move is to move on to the next option. Even if the restaurant has low prices, your satisfaction will likely not be greater than those that left in anger.

This short example should guide the next question you ask before leasing a space. Learning how long tenants are staying is a building is valuable piece of information to you as a tenant. This will let you know how the building and service have worked for other businesses.

It is incredibly important to note that if the tenant turnaround is high, then it might be indicative of unhappy tenants. Another good way of determining past tenant relationships is to ask the landlord for tenant testimonials.

As the business owner, you need to make the decision on whether you want quality or quantity. Sometimes, the cheapest leasing deal is not the best for your business. Higher value is always the better option.

Love this series? Be sure to download our whitepaper edition, which packages all of the questions you need to ask before leasing in a centralized location! Stay tuned for our next series to start!

Over the next few weeks, we will be adding to our series of helpful tips for businesses starting to look into leasing. This post is the ninth of 10 on the essential questions you should ask before signing an office lease.

This Week’s Question: What types of Tenants are currently in the building?

Business becomes easier when those around you help, rather than hurt you. Synergy is becoming an increasingly prominent buzzword. Synergy is the interaction or cooperation of two or more organizations, substances, or other agents to produce a combined effect greater than the sum of their separate effects. In short, synergy is combining two businesses to maximize efficiency.

How can we make our businesses as effective and efficient as possible? Location.

One of the key pitfalls tenants typically fall in when looking for an office space are their neighboring tenants. Before you sign the lease, it is incredibly important that you know who is in your building. If possible, choose a building that has businesses that complement your own. Synergy is especially important in a medical building.

By choosing a building with synergy, you choose a location that increases your chances at success. Foot traffic to successful businesses and increased credibility are just a few of the benefits you receive when you choose a synergistic space filled with successful businesses. Through synergy, your business has the highest chance of success.

Stay tuned for next week’s feature on the importance of knowing how long the average tenant of your prospective building stays!

Over the next few weeks, we will be adding to our series of helpful tips for businesses starting to look into leasing. This post is the eighth of 10 on the essential questions you should ask before signing an office lease.

This Week’s Question: Does the Office space fit into your company’s needs, image, wants, comfort and vision of success?

One of the key reasons to move into an office space is its ability to add credibility to your business. However, without the right office space, your image could suffer.

Your office is a visual representation of who your company is and the image you wish to project to your employees, clients and customers. Be sure that your selected office space is easily accessible and in a prime location. The building should provide all of the amenities and comforts within not only your own office space, but within the common areas.

A good way to judge the merits of a particular office space is by putting yourself in the shoes of your prospective stakeholders. By imagining the space through their eyes, you increase the likelihood of finding a space perfect for everyone important to your business.

It is incredibly important to find out what all of your building amenities are and how accessible they will be to you as a tenant. Your office space projects a large portion of who you are to the outside world.

Stay tuned for next week’s feature on the importance of knowing what types of tenants are currently in your prospective building!

Over the next few weeks, we will be adding to our series of helpful tips for businesses starting to look into leasing. This post is the seventh of 10 on the essential questions you should ask before signing an office lease.

This Week’s Question: Can the office space be modified to meet your company’s future business needs?

 Businesses evolve on a continual basis, growing and shrinking based on market forces. Inevitably you will need to change the space you start out with. But what do changes to your space look like in a lease?

The changes may include expanding or downsizing, adding a kitchen area, or completely redesigning the configuration of the office space. It is always best to determine what changes the landlord is willing to do accommodate and what the applicable charges will be, before signing the lease. While it may be difficult to know what your plans are down the road, you should ensure that you have the flexibility to change your space to meet any potential need.

(Insider Tip: Get your landlord to provide you with a Right of First Refusal option under the terms of your lease for any space that becomes available adjacent to your suite, if possible)

Some property managers offer a phenomenal agreement known as “portfolio leasing.” In portfolio leasing, tenants are able to move from building to building within the property manager’s buildings. Should you need additional space and can’t take the suite next door, you have the opportunity to move to another building with a larger suite without breaking your lease. As the tenant, you hold a great deal of power in determining the specifications of your lease. Since most leases typically span 3-5 years, make sure you make the right decision with a flexible landlord

Stay tuned for next week’s feature on the ability for your office space to meet your company’s vision for success!