Step1
Gauge what your space requirements are now and what they may be in years to come. A general rule of thumb is to allot 175 to 250 square feet of usable space per person.
Step2
Contact a commercial real estate agent for help in finding suitable rental space. Agents have the inside track on what space is coming on the market soon and can advise you on which properties are the best. Some firms specialize exclusively in office space leases.
Step3
Discuss needed improvements. Tenant improvements are subject to serious negotiation, particularly if vacancies are high.
Step4
Examine parking carefully. Will you have a number of parking spots set aside for your employees, or will they have to compete for street parking?
Step5
Reduce your costs considerably by sharing space with another firm, including office equipment, reception areas, meeting rooms and rest rooms. But know that sharing space brings less privacy.
Step6
Check out incubators--areas in which small-business entrepreneurs have access to low-cost office space. You may benefit from sharing expertise as well as office space. Do an online search, or start at the Web site of the National Business Incubation Association (nbia.org).
Step7
Consider all-inclusive executive office suites. Although the rate may be a bit higher, many suites come furnished and have access to office equipment and conference rooms, thereby lowering up-front costs for physical space and equipment to almost nothing. Many also provide a receptionist.
Step8
Read a prospective lease exhaustively. Review your monthly payment, the length of the lease, what the landlord is responsible for, any provisions for getting out of the lease early, and other standard clauses such as annual rent increases tied to inflation. Ask if the lease includes upkeep of grounds and other maintenance. Don't forget telephone lines, cable service, broadband Internet connections and other communication needs.
Step9
Review occupancy date, options regarding expansion, extension of the lease term, termination, contraction (the need to scale back), and first right of refusal on adjoining space, as well as security, reception area, amenities (lunch rooms, rest rooms, snack vending), access to conference rooms, elevator usage, and HVAC issues (such as who is responsible and what is the expected response time when a problem arises).
Step10
Find out about any restrictions on signage.
Step11
Retain the services of a real estate attorney who not only specializes in lease negotiations but knows your area and, preferably, has dealt with your kind of business before. A lease negotiation can cover tens, if not hundreds, of terms, and you want someone in your corner who has seen it all before.
