Southcreek News

Examples of Tenant Considerations When Renting Office Space in Kansas City

Many tenants are prepared to sign a landlord’s standard lease without really considering their business’s needs or engaging in serious negotiation. Here are a few examples of things your business might consider before signing your lease:

Landlords sometimes tie increases in rent to the CPI, or Consumer Price Index. What is the rationale for this and what are some common pitfalls of this clause?
Often start-up businesses are planning to incorporate, but have not yet done so when they sign their lease. What are the ramifications if this occurs?
How can 501C businesses seek financial benefit from their non-profit status?
Is it better for a tenant if a lease says it will “gross-up” operating expenses or if the “gross-up” is determined as if the building was 95% leased?
What are the most common items that careful tenants request to be excluded from the meaning of “operating expense”?
The landlord takes care of any future issues that might be harmful to them, but what are the negotiating positions of the tenant?
What are some compromise positions in a lease that will protect a tenant from having to pay for necessary services that are not delivered?
Does the lease provide for the landlord to be able to relocate a tenant to a “similar” space? If so, what tenant concerns about this possibility should the lease address?
What liability limitations should the tenant seek to include in the lease?

This list represents just a few specific considerations a tenant might keep in mind. Researching what questions to ask specific to your business can help make you as a tenant more prepared to negotiate a lease.

Give one of our commercial real estate brokers in Overland Park a call at 913-685-4100 and get answers to any of your questions and concerns are as a potential Southcreek Office Park tenant!

Analyzing Your Needs When Renting Office Space in Kansas

An important early step in finding office rental space is analyzing the needs of your company. This can both help you narrow down your potential space options and prevent issues from arising later in your lease. There are a few factors that you might consider as you prepare yourself for your search for a commercial rental space:

Your business’s corporate objectives.
The importance of building attributes such as image, location, service, and amenities to your company.
What you would like to see in your lease terms and what price range you are willing to consider.
Any legal parameters.
The size of offices, open areas, and any warehousing areas.
The size of common use areas, including copy, break, conference, and storage rooms.
What kind technological amenities your business might need.

At this stage of the rental process, pre-determining the square footage your business is looking for based on your needs can also be helpful in narrowing down potential rental spaces. You might consider planning out in detail how your business will use a space. This involves looking at each component of the space and asking yourself detailed questions about how you want it to look. For instance, when you consider a reception area, you might think about whether you want a built-in desk, how many guest chairs you need, whether you want elevator exposure, etc. Determining all of your needs in detail can make later steps in the rental process go a little more smoothly.

Give one of Southcreek’s commercial realtors in Kansas City a call at 913-685-4100 to ask about how we can work with you to determine if our office rental space in Kansas City meets your business’s needs!

6 Basic Steps for Finding Commercial Realty in Kansas City

Are you looking to relocate your business to a new rental space, but wondering how to conduct that process? Taking time to thoroughly plan and execute your search for commercial space can help you find a space that will satisfy your business’s needs for the duration of a lease without unexpected hitches. The Center for Commercial Real Estate offers a few basic steps to potentially keep in mind as you start your search for new office space:

Determine your space requirements and analyze your business’s needs. This includes considering location, service and amenity requirements, components of the space, and staffing projections.
Survey the market. An organized approach to this step can help provide you with a more clear comparison of the spaces you are considering.
Selection of most qualified spaces. This involves narrowing down your list of potential options based on your original needs, including location and amenities and services, as well as a consideration of the background of the current landlord.
Perform technical property review and take a physical tour. It is helpful to take notes on each of your top spaces as you tour them in order to remember details later.
Conduct the proposal process. Distribute your Request for Proposal (RFP) to various potential landlords, review their responses, and evaluate this data alongside your data about the space and the history of the landlords.
Begin negotiations. This potentially includes making a negotiation checklist, seeking input from legal counsel, and finally creating and executing the lease document.

If you are looking at commercial MLS listings in Overland Park, give one of our commercial real estate brokers in Overland Park a call at 913-685-4100 and let us talk to you about whether Southcreek might be a good fit for your business’s needs!

Commercial Real Estate in Kansas City Terms to Know

Are you beginning the process of looking for affordable office space in Kansas City? The real estate rental process can be full of unfamiliar jargon. Here are some basic terms and definitions you might want to be aware of:

A-2 Survey: A legal survey of the measurements of the boundaries of a property, its area, and even its topography. The survey might also include fencing, utility feeds, easements, encroachments, etc. Often this document is required by mortgage holders and is stamped by a licensed land surveyor.
Acre: a measurement of land in any shape that is equal to 43,560 square feet.
Add on Factor: a generally accepted definition that describes the percentage of square footage added on to the base square footage of floor area to account for common areas of a building that are used by all tenants.
Assignment: A transfer to another party of any real or personal property or of any rights or estates in that property. Typically assignments are of mortgages, leases, deeds, or trust, but the term can be used to describe any transfers to title.
Base Rent: The rate determined for the commencement of the lease. This might be subject to yearly increases unless the tenant negotiates otherwise in the lease, Addendum, or an attached amendment. This phrase can have different meanings for different landlords. In some markets, landlords might use it to refer to the rental rate per square footage minus operating expenses.

Check back for later posts on more real estate terms to know!

To find out more about some available office space in Kansas City, give Southcreek a call at 913-685-4100, and find out about the benefits of renting with us!

3 Tips for Searching for Commercial Office Rental in Kansas City

In this economy, there are a lot of opportunities for businesses to search out good deals on office rental space. Here are a few tips to remember as you look for office spaces to rent:

Think small. A lot of landlords who were previously looking for bigger tenants are now looking to diversify and divide up large spaces for smaller tenants. This means that small businesses looking for rental space now have more options to choose from.
Consider the duration of your lease. Landlords are also becoming increasingly flexible about negotiating the duration of tenant’s leases, so tenants have a better chance of deciding how long they would like to stay. You might want to think about where your business is at as you negotiate your lease length—if you are a small start-up company, you might want to stick to just a few years, but if your company is thriving, you might want to take this opportunity to secure a longer lease.
Learn your market. Now is the time to see a lot of different spaces as you make your choice. You might also consider working with a broker to help with the nuances of finding a rental space, especially in this economy.

Being savvy about the current real estate economy could help you land an attractive deal on office rental space in Kansas City. If you would like to ask any questions about the size of spaces available or the duration of leases at Southcreek, give one of our commercial real estate brokers in Kansas City a call at 913-685-4100!

5 Reasons to Rent Commercial Space in Overland Park: Part V

In addition to offering specific benefits like client entertainment and travelling opportunities, office rental space in Overland Park puts you near a whole host of basic amenities and services beneficial to both your business and your personal life. Here are some maps of the locations of basic services and resources in the Overland Park area:

Hospitals – enjoy the peace of mind that comes with knowing your home is close to healthcare services.
Health Clubs – join a local gym for a quick workout during your lunch break.
Golf Courses – choose from a few different courses and hit the links with friends or clients.
Coffee Shops – find the best cup of coffee to grab before work.
Restaurants – take a client out, discover your favorite family restaurant, or pick your favorite lunchtime haunt.
Hotels and Motels – great for if you have clients visiting from other parts of the country.
Banks – useful for both your personal and business needs.

Overland Park is a community that is recognized for its superior school system, high quality of life, and developed infrastructure. Both homes and businesses in Overland Park have easy access to entertainment, health services, banking, and anything else you might need. To find out more about why Overland Park is an ideal place to bring your business, give one of our commercial real estate brokers in Overland Park a call at 913-685-4100!