Leasing office space is not as simple as you might think. The last thing that you want to do is sign a lease with an office building without knowing what your responsibilities are. It's important to know what expenses come along with leasing space so that you can plan accordingly and avoid any surprises in the future. This guide will cover the most important things you need to know.
The lease term is the length of time that you are responsible for paying rent. The standard office building lease has a 12-month period, but some leases can be much shorter or longer than this. If your business only plans to operate in one location for at least 18 months, then make sure you sign the right type of lease agreement.
The landlord will be responsible for maintaining the outer appearance of the building. This means they are responsible for the elevator, lobbies, and hallways. You will be expected to maintain the interior of your own facility. Some landlords might allow you to replace carpeting or paint, but this is not always the case.
The landlord will also expect utilities such as heat, water, and electricity to be paid. If you fail to pay these bills, then you could be violating your lease agreement.
You will need permission from your landlord before you can sublet your office space because it might affect the building's occupancy rate. Subletting is a good way to get help with the rent as long as the business you are subletting to is not in direct competition with you.
You should also find out if parking spaces are included with your lease agreement because some landlords require that their tenants pay for them. You might have to pay for the parking space of each of your employees and those you sublet to. Make sure that you know exactly how much it will cost you.
Room for Expansion
You might think you only need a small space for now, but what if your company is successful and needs to expand? You don't want to have to move or find new office space. Make sure there is room set aside in case of expansion.
There is a lot you need to consider when you are renting or leasing an office space. By asking the right questions before signing a lease agreement you can ensure that you don't make a decision that you will regret later on.
For more information about office space for lease, contact a local facility.