Finding office space is no easy feat. You need to pick a prime location that works well for your customer base and your employees, and you have to find a space that will fit your needs while being cost-effective. It’s a struggle, and I absolutely love that I have the opportunity to help several businesses in Boston’s Metro South area find the right office space.
Throughout my many years of experience in the industry, I have helped many lease office space throughout the entire Boston Metro South area. There are many obstacles that can arise as you start your search, but if you keep your eye out for these common issues, then chances are things will end well.
Consider how your business operates as you review the lease. There are certain qualities of your business that may not match those outlined in the lease. For example if you make loud noises at certain times of the day and you have neighbors that could complain to the landlord, then you may want to pass on that space. Consider your business’s behaviors, operating systems and financial situation before agreeing to sign anything. You have to think practically if you’re going to end up happy in the office you choose.
Make sure you pay attention to all components of an office lease. The three main components to a lease agreement are as follows: the business points, the legal points and the workletter. If you neglect the workletter, which outlines what party is responsible for paying which fees during improvements or build-outs, then you could find yourself in a costly and horrible bind. Pay close attention to all parts of your lease agreement for the best results.
Beware the sublease space. Sure, you can get a great deal on these offices, but there are a number of risks to consider, such as a sublessor in a distressed financial situation or no improvements included in the agreement. The solution to this is to take extra security precautions to protect your business, such as converting a sublease agreement into a direct lease through the landlord AND doing a thorough background check on the sublessor.
Don’t get overenthusiastic. When it comes to making a deal, becoming too over eager turns you in to a bad negotiator. Think practically and don’t see each obstacle as a failure. Look out for your best interest, but do so in a realistic fashion.
Use a commercial real estate agent to help you find the right space. Trying to find office space on your own might seem like an appealing idea, but you could be doing yourself a huge disservice by taking this route. Commercial agents are trained to help you throughout the entire leasing process. Using one will protect you and your business from entering in to a bad lease and putting your company in jeopardy.
If you keep these five things in mind as you begin your search for office space in Boston’s Metro South area, then there is a higher likelihood that your transaction will go smoothly and end well for both parties involved. If you have any questions about office space available in the area, don’t hesitate to contact me and ask. I’d be happy to give you more information. I hope to hear from you soon.