Posts Tagged ‘office space’

Smart Commercial Leasing Practices

Tuesday, January 21st, 2014

commercial_real-estateIf you are in the market for commercial real estate for your business, and you want to ensure you get a great deal on a commercial real estate lease, then it pays to know a little more about commercial leases. In particular, it is important to understand that commercial leases differ somewhat from residential leases, so you may be surprised to learn that a commercial lease agreement is therefore quite different from a residential lease agreement.

Here are a few tips for preparing yourself to lease commercial property for your small business:

  1. Avoid snagging the first place you find. Because commercial spaces differ so much from their square footage to their layout and their lease price, it pays to really do your homework and find a number of properties that best fit your needs so you can compare them, side by side, and choose the one that works for you. In fact, due to the many features of any commercial lease, it may be best to write down all of the lease features in separate columns so you can easily compare them together.
  2. Remember the importance of location. As with all real estate, location is the key. However, you may find that traveling a mile or two in either direction of your preferred area can save you big on your monthly leasing expenses. It is really important to understand that you can end up paying big simply because the office space is located in a certain area deemed “desirable,” when, in fact, another location may work just as well for you and your business.
  3. Look at the entire picture, not just the lease amount. In particular, a commercial lease includes many components, such as maintenance and terms. The lease terms may be quite lengthy, in fact, so it is best to ask your attorney’s opinion if there is something in the lease that you don’t quite understand. Paying an attorney a couple hundred bucks to save yourself thousands of dollars down the road is well worth the expense. You will also notice that nearly every lease you view will be quite different from the next, which makes it all the more important to get the advice of an attorney or other real estate professional before signing a commercial lease.
  4. Everything’s negotiable with a commercial lease. You can negotiate everything from the term to the price-per-square-foot. A commercial lease may be a work in progress for a period of a few weeks, but it is important to make sure that all terms of the lease work for you so you don’t find yourself stuck in an unsavory lease for a long period of time.

A commercial realtor is far different from a residential realtor. In other words, calling up the realtor you used to sell your home and asking him to find you a commercial property to lease probably isn’t the best idea. Find a realtor who specializes in commercial real estate so you can be certain you have someone on your side who truly understands the process of leasing commercial re

What you Should Know about Commercial Leasing

Tuesday, April 12th, 2011

Dallas commercial real estate trends are showing signs of growth, which is a welcomed sight after a rough couple of years. The positive Dallas commercial real estate trends show that commercial leasing is once again active.

If you are enthusiastic about the recent uptick in Dallas commercial real estate trends, you may be thinking it is time to look for new commercial space for your business. If you haven

Subleasing your Downtown Dallas Office Space

Thursday, March 11th, 2010

If you are struggling to pay the rent on your downtown Dallas office space, you may have given some thought to subleasing part of your space. Many business owners, facing economic losses and climbing fees, have turned to the idea of subleasing their downtown Dallas office space.

Although this may seem like a logical solution, there are a variety of factors to remember before subleasing your downtown Dallas office space:

  • Subleasing can allow you to share your lease burden with another company and cut your raw office space in half. It is likely that you will be able to successfully sublease your downtown Dallas office space, given the excellent location in the city. You must be prepared, though, to charge your tenant less per square foot.
  • The stability of your sublease agreement relies heavily on the stability of the company that is purchasing the space from you. In other words, you may end up losing your tenant. It may be a good idea to choose an established company with a stable business history so that you can mitigate your risk.
  • Realize that you and your tenant may have different views on the operation and layout of a business, but that your tenant controls their space, not you. It may be hard to relinquish control over your tenant’s space, but your tenant has as much right to use his or her space (within the confines of the lease, of course) as desired.
  • Do your homework and read your lease carefully when it comes to subleasing. Most lease contracts will have specific language about subleasing, so read and understand these terms before subleasing the space. Subleasing can benefit both you and your tenant, but it can also present a variety of problems and obstacles. Make sure you are ready to address these issues before subleasing.
  • Figure out how much you will need to lease the space for without hurting your bottom line. Consider the costs of operation, utilities and the like, and make sure that your tenant realizes all of the related costs of subleasing your downtown Dallas office space.

The Dallas Office Space Market: How has this Market Changed?

Friday, January 8th, 2010

The outlook for Dallas office space in 2010 will see some major changes, mainly regarding how office space is leased, negotiated and managed. The struggling Dallas office market during 2009 has caused many Dallas landlords to re-evaluate how they lease and manage their properties. In particular, Dallas office space landlords can no longer afford to lose any money from their tenants, and are therefore prepared to do what they have to do to make ends meet.

How the Landscape of the Dallas Office Market is Changing:

  • Renegotiating Leases may be Easier for Tenants – In a typical economy, smaller tenants usually don’t have the leverage that larger tenants are afforded. However, given the state of the Dallas office market, even smaller tenants can negotiate great deals on their current space or new space. Simply put, landlords recognize that they may no longer be in the position to turn away potential tenants.
  • Prime Credit means Everything – If you are a small business with prime credit then you are a hot commodity in the Dallas office market in 2010. As more and more small business owners struggle to pay bills, the business owner with great credit is highly sought out by landlords. The reason? Landlords are now, more than ever, in search of tenants with a low likelihood of default on their rent.
  • Letters of Credit over Cash Deposits – The accepted form of deposit among landlords used to be cash deposits. However, this has changed significantly, given the fact that bankruptcy courts will come after cash deposits if a tenant files for bankruptcy, thereby leaving the landlord with nothing. Given this fact, many landlords are now seeking letters of credit worthiness from tenants instead. And not just any letters of credit; landlords are now seeking letters of credit from Triple A-rated banks. This is also a major reason why tenants with excellent credit are afforded the most leverage when it comes to negotiating lease prices with their landlord.

Leasing Office Space: How to Approach the Process

Wednesday, January 6th, 2010

You’ve made the decision to lease office space in Plano – now what?

You have plenty of options when it comes to leasing Plano office space, so make sure you are making the right decisions every step of the way. Most importantly, you want to make sure that you are choosing the Plano office space that best fits your needs.

How to Start the Process of Finding the Perfect Plano Office Space:

  • Carefully Consider your Needs – Come up with a game plan and stick to it. In other words, don’t let the pretty surroundings lure you into leasing something that you either don’t need or can’t afford. Make a list of your must-haves and take it with you when viewing Plano office space. Take the time to imagine your business operating out of the space and how the flow may affect your ability to effectively run your business.
  • Make a Budget First – One of the biggest mistakes you can make as a business owner is looking at office space before you have set a budget. Often times, this can lead to a false sense of reality and could lead you into a rental agreement that you cannot realistically afford.
  • Hire an Agent who is Skilled in Commercial Properties – You may be inclined to tackle the job of finding Plano office space by yourself, but this may not be the best decision. A real estate agent who is skilled in commercial real estate can provide you with invaluable insight regarding leasing office space and also help you negotiate a fair deal on your lease.
  • Think about the Future – Although you certainly don’t want to get yourself into office space that is too large for your needs, you also don’t want to be caught in a situation where you’ve outgrown your office space before you even moved in. Consider your future plans and how they will fit in with your office space; ask your landlord if increasing the size of your office space is a possibility so you can best prepare for your future business decisions.

How to Find the Perfect Office Space for your Needs and Budget

Wednesday, December 9th, 2009

We all know from the news that the Fort Worth office space market is not exactly gleaming. Office space is vacant, new construction has slowed to a crawl and current office space values have dropped alongside the national economy.

Bad news for sellers and landlords; great news for you. Now may be the very best time to snag a great deal on a fabulous office space.

Luckily, it’s not that hard to find great office space; you simply need to consider your wants, needs and, obviously, your budget. Here’s how to start your search in the Fort Worth office space market:

  • You heard it many times before: location, location, location. But what held true years ago still holds true today: the location of your Fort Worth office space must be first and foremost on your radar. The wrong location can seriously affect your business, while a prime location can help it by leaps and bounds. However, along with location comes price, so the key is to find a compromise between cost and location.
  • Use the power of the Internet to facilitate your search. It makes no sense to wander around Fort Worth, hoping to find the office space of your dreams. Instead, concentrate on your wants and needs, and then use them as a guide when scoping out potential properties. The Internet is still the best way to manage your time when looking for Forth Worth office space.
  • Consider your needs – both now and in the near future – when choosing the size of the office space. Don’t outgrow your office space before you even settle in. In other words, plan ahead for your future needs. However, on the opposite side, don’t pay for a ton of space that you simply won’t use or don’t need.
  • Consider the office space’s facilities and amenities. Don’t just consider the space; consider all of the other things that go along with it: parking, security, and transportation; it all matters!