The article provides tips on how to lease the right office space. First, a good commercial real estate broker should be hired to do some preliminary tasks. Second, a business plan that corresponds the lease...
There are advantages to working with a broker. “Not only will [brokers] be able to identify available spaces based on your search criteria, but commercial lease structures are far more complex than residential home or apartment leases,” says Hargis. “[Leases] require a strong understanding o...
Less Flexibility:Commercial office spaces usually come with many restrictions. There might be limitations on customizing the space, and the lease terms can be less flexible compared to private offices. Moving or downsizing might be difficult and expensive if it involves breaking a lease agreement. Pr...
Parking for commercial office space is based on a ratio of the number of spots per 1,000 square feet. For example, A tenant may lease a 10,000-square-foot space and receive a parking allowance of 4:1000. In this case, the tenant would be allowed to lease 40 parking spots for employe...
Although they are used primarily in commercial space, ground leases differ greatly from other types of commercial leases, like those found in shopping complexes and office buildings. These other leases typically don't assign the lessee to take on responsibility for the unit. Instead, these tenants...
A gross lease is a type of lease that allows the tenant to use the property exclusively by paying a flatfee. It is commonly used for rentals in commercial property, such as office buildings and retail spaces that have numerous lessees. Fees or rents are calculated by landlords to reasonably...
Setup Options:Decide if you'll operate from a home office, lease a commercial space, or opt for remote working. According tothis source,12.7% of full-time employees work remotely, while 28.2% have adopted a hybrid work model. Costs:Consider the financial implications of each setup. For insta...
You’ll need to purchase business insurance for your staffing agency to protect yourself from liabilities. Some common types of insurance include: Business owner’s policy Commercial general liability insurance Employee theft and crime coverage
“In some situations, you may stand to profit from a sublease if the market is tight and your rental rate is well below market. In this case, you may be able to secure a sublease rate above your own rental obligation,” wroteAquila Commercial. ...
Rent expense refers to the cost incurred by a company for leasing commercial properties to conduct its business operations. It includes base rent and, depending on the lease type, may encompass additional expenses like property taxes, insurance, and common area maintenance. ...