3 Mistakes to Avoid When Seeking Space for Lease
August 25, 16
When it comes to finding office space for your business, mistakes cost money. Consider the fact that office space is usually the second or third largest expense faced by a business. Also consider the consequences that choosing the wrong location can have; for example, it may mean that you lose clients or employees. Below, we look at three of the most common errors tenants make when seeking office space for lease as well as some tips for avoiding them.
1. Not Considering the Future
You should think about your future needs as well as your present ones. Look for an office space that provides you with room to grow. This is tricky; be realistic when thinking about your growth. Avoid getting so much space that it will be a burdensome cost but enough that you will not feel cramped towards the end of your lease.
2. Not Considering the Location
One of the big factors in choosing an office space is whether it is right for your employees. If the new location results in an overly long commute, you may lose them. You may also lose them due to factors like inadequate or expensive parking. Naturally, you should also consider the new location's effect on your clients. How accessible is it to them? Are they willing to travel long distances to use your business or will they just seek out closer options?
3. Not Considering the Renewal Option
Many tenants simply do not think about the renewal option when they sign the lease. It may seem too far down the road to worry about. However, you can reduce future stress and cost by paying close attention to factors like holdover rent penalties and the notice period for exercising the renewal option.
If you want to learn more about choosing the right office space for your business, contact us today. We can help you to find the ideal Houston area location and the right lease contract.