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5 Money Saving Questions to Ask When Leasing Office Space
Choosing a new office space can take some time. After all, you have to consider a variety of neighborhoods and locations and how those will fit with your long term goals as a company.
The easiest way to find the right space to lease by working with a realtor or commercial real estate agent. These individuals are trained in how to handle the unique nuances of rentals and can help you avoid overpaying. Still, when you find an office you like, you should ask your realtor these 5 money saving questions:
1. What were the results of the energy audit?
Energy audits should be performed regularly, on both residential and commercial buildings, to ensure that energy is not being wasted. Most utility companies can perform an energy audit if you ask, and will check for everything from water leaks to whether or not the windows are double paned.
2. What costs are there in addition to rent?
When you lease an office space, there are often many more expenses in addition to your rent. These can include utilities, like electricity and HVAC, building services, like maintenance and general improvements, cleaning services, landscaping services, and your initial security deposit to name a few.
3. What’s the deal with insurance?
Most states requires landlords to carry some kind of comprehensive insurance policy to protect themselves and their tenants in the event of natural disasters, fires, break-ins, etc. Not only should you ask your realtor if the landlord has an insurance policy, you should get one for your business as well. It may cost money up front, but it’ll be invaluable if you ever need to use it.
4. What are the detailed terms of the lease?
Most lease have the same standard language, but you should still go over the fine print in the lease with your realtor, as you could find things that could save or cost you money down the road. For example, your lease may allow you to sublease the space if you need to move early, which could save you some cash. By contrast, it may also have a clause that says you owe the landlord a fee if you break your lease earlier than agreed upon.
5. What’s the history of this particular rental market?
This is a broad question that may have many answers, but it can also give you insight on whether you’re getting, or are going to get, the most bang for your buck. For instance, if you know the going rate for rental properties in the area, you can deduce whether or not your potential landlord is overcharging you. You should ask other tenants in the building (if applicable) whether they have had their rent raised recently and by how much.
Once you have the perfect office space and have signed a lease, you’re ready to move in! But there’s one last thing you can do to save money when moving into a new office, and that is renting office furniture. When you lease your office furniture, you don’t have to invest thousands on buying new furniture, you get a chance to try out a variety of styles, and you can return it whenever you are ready to buy.
To learn more about furniture rentals at Office Furniture Source, contact us or give us a call to speak to one of our Furniture Consultants at 972-242-1700.