What To Know About An Office Rental Before You Agree To A Lease

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What To Know About An Office Rental Before You Agree To A Lease

What To Know About An Office Rental Before You Agree To A Lease

7 October 2016
Business, Blog

If you started your business in your home and it is starting to do well, you may explore office rental options. Renting a small office can provide you with a more professional environment and can allow you to continue to grow your company. Ensure that you investigate the following issues before you agree to a lease so that your business can function without problems in the office.

Renting to Your Direct Competitors

As a business owner, you have a number of companies that are in direct competition with you. Ask the building owner about their policies regarding renting to people in the same industry. Is it reasonable to expect, for instance, that the building owner will not rent to a competitor while you are in the building? Knowing this ahead of time can be very helpful; you can actively seek out building owners who are willing to include an exclusivity clause so you won't face competition in the same building.

Painting or Improving the Office

When you think about renting a particular office, you might have some ideas in mind for painting the space or improving the area in other ways. Be sure to get approval from the building owner before you even sign the lease so that you can avoid trouble later. Some building owners don't mind if you paint the space as long as you paint it the original colors when you leave, but some building owners do not permit any changes to the physical space by tenants.

Subletting the Space

If you don't plan to need some or all of the office space throughout the year, you might consider allowing a peer or business contact to use the office. However, it is vital that you ensure that you won't be violating a lease if you do that. The building owner might raise your rent or evict you if subletting is not allowed on the premises. Therefore, look for language about this practice in any lease you are considering, even if you don't currently expect to sublet the office space. If you don't see anything about it in the lease, ask directly.

Taking the time to discuss the issues above with the owner of an office building can help you avoid problems throughout the period of your lease. Work with a leasing agent, an attorney, and other professionals to ensure that the office lease agreement is suitable and fair to you and your business. For more information, contact a company like Bklyn Commons.

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