Category Archives: Commercial Property

10 Quick Tips about Office Space Leasing

Nowadays, most of the companies prefer office space for lease instead of having their own properties. This is because it helps them in reducing a lot of their real estate cost. Here are 10 quick tips about office space leasing, which you need to consider before taking any lease:

  1. Start looking for Office Space Lease as early as possible. In case you require a small place then you should start searching for the place 12-18 months prior to your lease expiration, similarly if you need larger space, you should start your evaluation 2-3 years prior to the lease expiration.
  2. It’s important to evaluate the building before relocation, consult with an architect or planner to know the optimal space size because you might grow with time and need a larger space for your organization. So before leasing a space keep in mind the growth objective of your organization.
  3. In case you are renewing your old lease, try to consult with other agents to bring in some competition, which will help you in price negotiations and will know the latest trends of the market.
  4. Apart from the rental rate, ask for other concessions which you will get in the long run.
  5. While selecting the space, you should pay attention towards the build out costs; otherwise you might have to pay a lot more than you what you agreed to.
  6. You should be careful while deciding the operating expenses.
  7. In case of a renewal you must pay attention to the lease agreement, to know what are the changes, what more you will be getting more this, and for how long your lease is being renewed for.
  8. Always compare the economic packages offered by the builders, evaluate all the cost factors and then only decide which one is the best for your organization.
  9. Sublease provision is also an important part of your lease agreement, because in case of its poor negotiation you can hamper the marketability of your space.
  10. Look for those places which provide some flexibility, so that you can make some changes in the space as per your requirement and need.

Apart from all these points, it’s also important to look for the location in which you are looking for the space for your office. As the cost may vary from place to place and the features may also differ.

7 Tips to Choose Commercial Property for Lease

Choose Commercial Property for LeaseAn office space is the most important aspect of a business. When the office space is right, half the battle to achieving a successful business is won. When one is out to seek an ideal commercial property for lease it is important that they consider these 7 factors or tips, before choosing the space.

  • The location of the commercial property is extremely important, it must be ensured that the office is centrally located or at least in the close vicinity of important offices and outlets. This ensures that the business is in the heat of action and not in some discreet corner of the city, out of the reach of people who need to notice it.
  • The size of the property for lease must be checked with precision. An office too big or too small may work as a hindrance in the process of running the business smoothly. A perfectly sized office proves to be a good investment for those who put their money in the property.
  • It is important that the amenities and facilities in the commercial property for lease are fit for housing an office. Having to spend time and money on building basic amenities may prove to be harmful for the business because the ideal workplace is one that may be instantly put to use.
  • Having an office property in the heart of a commercial hub is always a smart way to hire property. When you are at the center of the game, you are able to play better and keep an even better watch on how your competitors are playing.
  • Keeping within budget is something that proves to be tricky for a lot of people. It is necessary that a strict budget guideline is set when one embarks on the process of searching for the property.
  • The commercial property chosen for lease must also be an easy access one. Something that is closer to railway stations or highways would be a more viable option than one that is located in a closed area.
  • An office that is overlooking the road or a public space is the most viable one, owing to the easy identification that it enjoys.

When leasing a property for commercial purposes, the best things one can do is get in touch with an expert and safely choose from a host of options.