When You Need to Lease Office Space, Don't Be Scared to Ask Questions

Raising Questions Will Get You a Good Deal and Also Give You Confidence

Never be shy about raising questions. Owners who work with new businesses recognize that as a rule, startups require more handholding. They should welcome your curiosity and wish to understand how leasing works.

Prospective tenants frequently depend on me to deal with the full process and take the lead. They even look to us for advice about marketing their business. They are looking for a full-service package, not only a guy to show them space and get a signature.

A standard question is about figuring out the monthly rent fees. Simply take the rate per square foot and multiply it by the quantity of SQFT. feet, and then divide by 12. Example: $16 per square foot x 700 SQ feet = $11,200. Divide that by 12 to get $933 each month.

You should really know the most notable difference between a gross and net lease. A Net lease is just the base lease of the physical space you?ll occupy, plus your share of the common space, eg: hallways, conference rooms, and so on. Basically areas that all renters use, but are not directly in the rented space.

Your monthly cost will include the base rate, along with fees for utilities, property taxes and operating fees. Always ask for the gross price, which is the total cost, so you don?t get any surprises otherwise a seemingly cheap rate of $9 per square foot rental rate can suddenly grow to $16. It?s better to ask up front as opposed to finding out after you?ve already driven across town in traffic to see space you simply can?t afford.

Terms, as would imagine, drive the monthly cost of rental rates. If you want to custom design the space, or get new carpet or paint, you be ready to to make a slightly longer commitment to the building. Month-to-month terms get you as is space.

If you do a one to three year lease, you should expect fresh paint and the standard choice of new carpet. Going with a three to five year lease gets a custom build out where walls get moved; custom paint and carpeting are also part of this package.

With a longer term lease, you get a lower monthly rate and you can lock in that rate. Shorter term leases will bring raised rates come renewal time. As your business matures, plan on going to a longer-term lease as quickly as you can.

If you would like some assitance with your leasing requirement please have a look our list of commercial space for lease in Minneapolis St Paul MN.

Eli Russell is the Director of Advertising and Leasing with JGM Properties in Minnesota. JGM Properties has several hundred tenant?s ranging from a couple of hundred SQFT feet up to thirty-thousand SQFT. feet in 11 properties in the suburbs in the Minneapolis St Paul metro area. The building locations are: Bloomington, Brooklyn Center, Eagan, Eden Prairie, New Hope, Plymouth, Woodbury and Waseca. Eli can be reached by phone at 612-290-1037. For more details go to the JGMproperties home page. If you require a hand sourcing Office, Warehouse, or Retail space anywhere in Minnesota submit your needs through our simple and easy online form for immediate assistance locating commercial space for rent.

Source: http://www.portofhodiedah.com/when-you-need-to-lease-office-space-dont-be-scared-to-ask-questions/

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