We all love a good deal, but how do you navigate the complexities of office leasing to ensure you get a good deal on your new office?
With so many different spaces to choose from, and negotiations with landlords it can be difficult to know what to do. In reality, getting the best deal for your business comes down to a few key factors, and knowledge and communication is critical.
Here are our tips to help you get the best deal on your new office.
1. Be clear about how much space you need for your new office
Determining exactly how much space you need can be hard, but you must spend time on this to get it right. Be sure to account for any growth, or contraction, you think you might experience in the coming years, as well as additional storage or meeting space you might need over time. It’s also fine to start off with a broad range of requirements and then refine that further with your agent.
Having a clear idea of how much space you actually need will eliminate costly unnecessary space, ultimately saving you money over the course of your lease.
Our handy office space calculator will give you a general guide to the amount of space you should be looking for, and will help account for some of the extras, like storage, that every office needs. Try it out to work out how much space you will need.
2. Develop a clear brief
Developing a clear brief will help your agent to be much more effective in finding the right properties for your business. Start by being very clear with your team about what your business needs in an office now, and into the future. While it can be difficult to know for sure what your future needs will be, your agent can help you identify options that provide some flexibility to grow or change your office space as needed.
3. Ask your agent the right questions
An important part of securing a good deal on office space comes down to asking the right questions. Trust your agent to help you refine your brief and identify the best space, in the right location for you. Be sure to identify any additional costs that you will be required to pay, including cleaning and electricity, so there are no surprises down the track.
In addition to your leasing agent, you may consider hiring a tenant rep or broker who can better navigate the leasing process. These professionals are experts in the local market who can help you negotiate terms with the building owner or landlord, ensuring the best possible outcome for everyone.
4. Commit to a longer lease term
In many cases, you will be able to negotiate a better deal for a longer lease term. However, it’s important to weigh this up against possible changes in your business so you are not locked into a contract that ultimately costs you money. This is another reason why doing the planning, calculating how much space you really need and developing a good brief is so important. You can turn this knowledge into savings by potentially negotiating a better deal over an appropriate lease term.
5. Lease space in a tenant’s market
With high levels of vacancy in the Brisbane CBD at this time, and proactive landlords upgrading buildings and providing new amenity, now is a great time to secure office space in Brisbane. Building owners are keen to do deals and you could find your perfect office, in an excellent location.
Just remember that it can take up to 12 months to find and secure new office space, so if your current office lease is due to expire in the next 12-24 months, consider starting the process now to ensure you have enough time.
In securing the best deal for your new office, planning and communication is everything. Take the time to be clear about your current and future needs, and engage the help of a leasing agent and even a tenant rep to help you refine your search and seek out a good deal. Now is a great time to lease an office in the Brisbane CBD, with plenty of great spaces available and landlords keen to do deals.
