4 SIMPLE STEPS TO NEGOTIATE YOUR OFFICE SPACE LEASES
Finding an office space for your business is not an easy task. It requires a lot of work, diligence, preparation, insight, intelligence and other professional services. It is one thing to find the ideal office space for your business and another to negotiate the right deal for you’re the office space.
Office space for rent in Austin Texas has always been tough. You need more than brevity to negotiate the deal. Negotiating an office space for your business goes beyond the price of the real estate property. It has to do with all documents and arrangements that deal with the rental unit.
You also have to take into consideration the future needs and impact of the Austin office space for lease on your business. If you don’t take care to negotiate the lease well for your business, you will be forced to move out of the building because of failure to comply with the lease terms.
Well, here are five simple steps to negotiate your office space leases rightly.
Get a Commercial Office Space Attorney
Negotiating a long-term office space is not something you want to use your marketing, operations and business knowledge to do. You need expert advice and guidance to help you play your cards very well.
And if you are too stingy to spend some few bugs on legal advisory fees, you can risk paying for your errors and ignorance in a big way when the lease negotiation did not go well. So get a good office space attorney or a good tenant advisory firm to help you.
Read the Lease Documents Very Well
The entire arrangement with regards to your Austin office space for lease is based on simple agreements contained in a document. You do not want to make any dumb decision and regret it later. So before you append your signature on the lease documents, ensure you read through the document thoroughly.
If you do not understand any real estate jargon in the document, simply get in contact with your attorney or tenant advisory firm. That is the reason you are employing their services in the first place.
Build-in-clauses are put into most lease agreements to protect the needs of the tenant. The build-in-clauses determine how your Austin office space will be used to conduct business and the possibility of the landlord renting a space within the facility to any competitor.
Basically, there are three main clauses: sublease clauses which allow you to release the office space to another tenant, exclusivity clauses which prevent the landlord from renting any space within the property to a direct competitor and co-tenancy lease which allows you to break your tenancy agreement when an anchor tenant leaves the residency.
Analyze the Move-In, Move-Out and Remodeling Clauses
Another essential clause you want to look at is when you are supposed to move in when you are supposed to move out and the terms that have been put in place to remodel the property. Once you are through with these crucial details, look at agreements put in to settle disputes and finally get to your attorney to wrap up everything to close the deal.