When you're considering what space to rent for your new office, location and rental costs are typically the primary areas of focus, but it's important that you don't overlook other important features. As you compare your options, keep these considerations in mind to ensure that you select the best possible office to lease and get a fair rental agreement.
1. ADA Compliance
The Americans with Disabilities Act requires that companies provide reasonable accommodations to make their facilities accessible to employees and customers who have disabilities. The law spells out specific requirements for the design of bathroom fixtures, lighting, elevators, hallway widths, entryways, access ramps and other accessibility modifications. Make sure to ask up front about accessibility to avoid trouble down the road.
2. Parking Rights
When you begin your commercial real estate search, take a survey of your employees to find out how many of them drive to work and how many of them use ride-sharing, take public transportation or bike to work. Once you have a feel for how many of your employees need to park cars onsite, take a look at the leases to make sure that you are guaranteed adequate parking. Be sure that there are spaces specifically reserved for your company and find out what steps are taken to ensure that those spaces are left unoccupied. Also, inquire about the measures taken to ensure that the parking lot is secure.
3. Signage Terms
For many companies, being able to advertise your presence in a building is important for your brand image. Typically, buildings have limited space for signage, so you'll need to find out exactly what you are entitled to. Key tenants that take up multiple floors or the majority of the building typically reserve the right to have their name added to the building itself. If you have a smaller company, find out if your name can appear on a shared marquee sign. At the very least, a company directory should be visible in the lobby to help people locate your office.
4. Repair Clauses
Before signing any lease, be careful to review the Repair Clauses thoroughly. It is common for landlords to require tenants to cover the costs of any damage done to an office that is not covered by the security deposit. Be wary of leases that require you to go beyond that and return the office to its original condition at the end of your lease. This can mean having to invest large sums of money to repaint, replace flooring, fix lighting fixtures and more.
5. Dispute Resolution
It's easy to skip over the dispute resolution clause of the lease. After all, you want to assume that everything will go smoothly once you move into your space; however, it's important to understand what will happen if you do find yourself in conflict with the landlord. To reduce the likelihood of expensive litigation fees, make sure that you are afforded the right to mediation and/or arbitration in the event of a dispute.
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