Leasing Office Space – Part 10 of 23 (Selecting Your Office)

Guest post by: Patrick Oconnor
Become an Author

Free PDF Download
Cost Segregation Analysis - Tax Deductions - By Patrick Oconnor

Visit the Office Space

The next step is to visit the office space in buildings that appear to be a good fit. Reflect upon the criteria you initially establish and any issues that may have since surfaced. Take detailed notes while visiting each of the buildings. (The details of the buildings will fade quickly if you visit 3 or 4 office buildings a day.) Ask questions regarding fundamental deal points to see if the information verbally provided by the building-rep broker provides further inside into the landlord’s negotiating position. Also ask questions regarding security, crime, maintenance and any other issues which concern you.

Issues to Address for Prospective Offices

Once you have identified office space that appears to be a good prospect, research relevant issues prior to committing too many resources to negotiating a lease, and obtaining construction estimates.

Does the Office Space Meet Your Needs?

If you plan to put 25 people in 5,000 square feet of space, have the space planner for the building work with you to see if the space works? Doing due diligence and negotiating a lease are time consuming. Cull options that do not work prior to spending much time on due diligence and lease negotiations.

Construction

When office space meets the minimally acceptable standard for the previously discussed criteria, it is time to review the costs to prepare the office space for your business. In broad terms, the costs include signage (if relevant) and the cost of renovating or redoing the improvements within your space.

Tenant Improvements

At this point, you need to know the landlord's policy regarding tenant improvements. (Tenant improvements are construction performed to make space suitable for a business. It can include adding restrooms, demolishing and adding walls, floor coverings, window coverings, signage and virtually anything else related to physically preparing the office for your business.

The Market Research and Consulting division of O’Connor & Associates provides information necessary to make decision to commercial real estate professionals. Occupancy and Rental Data, ownership and management information are routinely gathered for four major land uses – multifamily, office, retail and industrial. This information allows investors to compare competitive properties, facilitate business decisions and track market and submarket performance. In addition the data is useful to brokers who for example continually monitor Houston retail space leasing, Houston office space leasing, Houston industrial space leasing, Houston apartments, Dallas apartments, Ft. Worth apartments, Austin apartments, and San Antonio apartments.

Leasing Office Space – Part 1 of 23

Leasing Office Space – Part 15 of 23 Lease Negotiations

Leasing Office Space – Part 4 of 23 (Selecting a Location)

Effective and Efficient Office Designs

Golden Rules for Leasing your First Office Space

What Makes an Ideal Office?

Hire Commercial Tenant Representation Services For Renting An Ideal Space

Opening a New Office Location

Office Fit Out Services

The Joy and Hazards Of Finding Your First Office

Market Rent Analysis

Leasing Office Space - Meet Tenant Rep Brokers

Working at Home vs Getting an Office

Houston Apartment Search Tips - How to Find Low Cost Move in Apartment

Environment and productivity at the office

Office Space by the Hour

Do you Qualify for Home Office Tax Deduction for Small Business Owners and Professionals?

TIPS FOR MAKING MONEY WITH REAL ESTATE YOU DON'T OWN

Don’t forget about Service Franchise Opportunities

Advantages of a Virtual Office for Entrepreneurs

Home > Business-Financing > Patrick Oconnor > Leasing Office Space Part 10 of 23 Selecting Your Office > Google +

Free PDF Download
Cost Segregation Analysis - Tax Deductions - By Patrick Oconnor

About the Author: Patrick Oconnor

RSS for Patrick's articles - Visit Patrick's website
O'Connor & Associates can represent you for services including Federal Tax Houston, insurance valuations, cost segregation, gift tax valuations and feasibility studies. Cut down your Bexar County property taxes to a fair value. Contact O'Connor & Associates.

Patrick C. O'Connor has been president of O'Connor & Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute. He is also an registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes. He continues to set the standard in direction and quality of our appraisal products, adding services ranging from business valuations and business appraisals to cost segregation analysis for income tax reduction.

Click here to visit Patrick's website.

More from Patrick Oconnor
Tax Reductions through Cost Segregation
Tips Tricks for Appealing Property Taxes
Tax Deferral or Tax Reduction Cost Segregation
Houston Apartment Search Tips How to Find Low Cost Move in Apartment
Real Estate Feasibility Studies

Share this article. Fund someone's dream.

Share this post and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.