Monday, April 10, 2017

Renting Office Space for Your Business

Having an office has long been seen as the true sign of a business being established. It only stands to reason that if your business is finally getting off the ground that you would want an office to make it feel truly official, as well as to consolidate your team members and your day-to-day affairs. If you are thinking of renting office space for your business in Lexington, Kentucky, here are some things to consider from the commercial real estate experts at NAI Isaac.

Location, Location, Location
As with any real estate, the location of your property is going to be your biggest concern. Think first about your clients. Are you going to have your clients regularly visiting your office for meetings? If so, you will want to make sure that your office is visible and easily accessible for anyone who may be looking for it for the first time. Also, consider how the location will impact your employees and yourself. For your employees’ convenience, you will likely want an office that is somewhat near restaurants and coffee shops so that they will be able to grab lunch or coffee without taking too much time away from work.

Know Exactly What You’re Looking For
Renting an office for your business is exciting, whether it’s the first office your business will have, or only the most recent. But you don’t want to let the excitement affect your decisions. While we understand that you will want the best office for your business, make sure that you are only renting what you need. Keeping a budget that you will be able to stick to is a great way to make sure that you aren’t getting too carried away with your search.

Consider Company Culture
You will want an office building that not only suits all of your needs, but also one that authentically reflects your business, both to your employees and to any clients that may visit. If your business is more formal or traditional, then a multi-story building outfitted with cubicles and dedicated offices will accurately reflect your no-nonsense attitude. If you are a trendier, younger business, however, consider renting a repurposed building, such as a former warehouse, that will communicate your eclectic, more casual aesthetic.

Leave Room to Grow
We all want our businesses to thrive, and especially if your business is younger, you will want to make sure that you can accommodate your success. If you find that you need to hire more employees and add more amenities to your space, you’ll want to make sure you have the room to do that, so aiming for slightly bigger than you need at the time is actually a wise decision.

Has this given you some direction in your search for the perfect rental office building? If so, contact NAI Isaac in Lexington, Kentucky today to find the perfect home for your business.


Renting a Commercial Space in Lexington, KY

Are you getting ready to sign the lease on a commercial space? Congratulations! Signing the
lease on any property, whether it be residential or commercial, is exciting. But don’t let that
excitement get the best of you. A lease, like any kind of contract, is a commitment, so you want
to make sure that you know exactly what you are getting before you put pen to paper. The
commercial real estate experts at NAI Isaac in Lexington, Kentucky have some things you’ll want
to make sure you know before you sign on the dotted line.

The length of the lease
Probably the most important part of any lease is the amount of time it will run for. Commercial
leases tend to be longer than residential leases, which generally only run for about a year at a
time, so be sure you know exactly for how long you are committing to using the space.

The amount of the rent
As with renting other kinds of space, the rent of your commercial space will likely be
determined by the square footage of the space you are looking to rent. So, because of this, the
more space you are renting, the more you are going to be paying in rent. You will also want to
make sure you are aware of what is getting factored into your rent payment, such as if the rent
includes any utilities or insurance on the space. If not, you will also want to make sure you have
that squared away before you move your business in.

Inflation
Where the length of commercial leases tends to span multiple years, it is very possible that
your rent could go up while your business is still occupying the space. You will want to make
sure you have discussed this with your leasing service beforehand so that everyone is on the
same page.

Lease renewal
While the length of commercial leases tends to be fairly long, the ultimate goal of renting a
commercial space is to find a true home for your business. If you love the space you’re renting
and have found real success there, you will want to make sure that renewal of the lease is an
option for you.

Have we given you some ideas of what to ask before signing the lease on your commercial
space? If so, or if you still have questions, contact the commercial real estate experts at NAI
Isaac in Lexington, Kentucky today to get started on renting your commercial space.