The overhead costs of an office lease is the second only to employee wages as the most expensive element of owning a business. Because this takes such a major bite out of the wallet, negotiating the best terms for an office lease may save thousands of dollars over the course of the lease.

Special Elements of a Business Office Lease

Most business office leases do not include the entire building. Instead, these will involve leasing a parcel or single building located among other similar offices. They will require special attention to particular details, such as limited use policies. The landlord will generally have limitations on what the space can be used for, so having this negotiated to the broadest terms possible will work to the advantage of anyone trying to start a business. Young businesses may grow in unexpected directions, and even older businesses may evolve suddenly. Knowing your lease will still cover this evolution will help foster the growth process.

In addition, factor in repair costs when considering rent. HVAC equipment and plumbing can be a heavy burden when you just want to get on with business. Letting the landlord deal with these details can dramatically increase the perceived value of a space.

You can also ask for special accommodations, such as first refusal rights on expansion space or power to help keep similar businesses from opening up in the same property.

Negotiating a business office lease can be tough, so consider hiring a small business broker to help you handle these details.