property tax, management, maintenance, utilities, and insurance. Do you want to increase your expenses and upsize? Or potentially downsize? Plan your move to coincide with future accommodations. Know the costs associated with your preference. An open or closed work space may come down to budget. Open office plans do save money on your overall costs, but they aren’t usually as productive for the employees and retention benefits. For each building you look at, your broker at will create a space plan for you and price it out. Usually, they will do it for most deals. The main thing here is there’s more to your deal than the lease. You have to plan out your layout costs and also factor them in. There are many, many more costs than just rent and moving fees. How they vary may factor into your final decision. A good broker will help you stay on top of this and inform you about everything.
HAVE A CONTINGENCY PLAN. EVERYONE NEEDS A B NE NEEDS A BACKUP.
This is an overlooked aspect that is mandatory. After you pick out three or four properties that meet most of your criteria, pick an office that is your clear second choice and make that your backup plan. Deals fall through all the time. It’s very common. Do not get stuck without a backup and an expiring lease. Companies that get stuck in that situation often end up with an unfavorable deal or situation for them and their employees. That’s why I recommend starting your search anywhere from six to ten months early. This way you have time to vet the most options. Even if it is early and you have your favorite picked out, something better and more flexible may pop up.
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