Leasing an office involves more than just finding an available space. Because of the unstable economy, companies must make the effort to get the most out of their investments, including office space. When choosing a Dallas office lease, it is important to develop a strategy. Following are some helpful hints to use in this process:
- Unfinished Space – Since the economy is still in a recovery mode, property owners do not have the financial freedom to complete all construction projects. This kind of scenario could be a great opportunity for companies to consider an inexpensive office space. An affordable rate can more likely be negotiated for an unfinished space in return for the leasing party providing the necessary funds to complete the project.
- Evaluate Needs – While a certain space may seem suitable enough to meet a current model, it is critically important to know that it is capable of meeting future needs as well. A successful company grows with time, with employee numbers and workspace size changing as well. It would be shortsighted to not consider future expansion needs that could arise. Therefore, it is imperative to consider the long-term goals of the company when choosing an office location.
- Consider Subleasing – One of the biggest expenses is the cost of the rent. Subleasing allows the tenant to lease extra space to another tenant and recover some of the rent cost for an entire space. A sublease clause should be included in the Dallas office lease contract so the arrangement is legal. Sharing is another way of lowering the rent cost. Two separate tenants can lease a single space and share the cost of maintenance, utilities and the cost of rent.
- Location Near Suppliers and Partners – Situating a company in a location that would allow collaboration between suppliers and partners is an important business strategy. In this way, the handling of transactions, supplies, products and conferences will cost less money and time. This can be critically important for companies requiring frequent collaboration with other businesses. The business hub at Silicon Valley is one good example of the advantage of working in close proximity with business partners and suppliers.
- Let Location Boost Image – Location is very important in boosting a company’s image. Business centers are places that can help create leverage with the image of a company. Being in an area where the big players in the industry are located and where clients gather is clearly a huge image booster for a company.
- Always Bargain – Now that there are many opportunities for a lease due to more vacancies, it is easier to negotiate a lease with favorable terms. Property owners tend to be more receptive to requests for flexible lease terms.
When choosing a Dallas office lease, it is important to plan a clear strategy. The current economic conditions may have made the playing field a bit more challenging, yet opportunities come from these situations that can be leveraged to help a company on their road to success. So evaluate for strategy today and achieve a great business outcome!