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Renting office space? Don't rush to sign that lease

Looking for commercial space to lease in Arizona may be the step that brings the dream of owning your own business into reality. It can be an exciting time, especially if you have outgrown your home office and have the capital to make it work.

However, office space is usually one of the biggest expenses in the overhead budget of a small business, and rushing into signing a lease can mean taking on a property that does not fully meet your needs. Additionally, without a careful examination of the property and a thorough review of the terms of the lease, you may get yourself and your business into a financial obligation that is more than you bargained for.

Recommended steps

The first mistake many small business owners make when looking for commercial property to lease is not leaving themselves enough time to find a place that is right for them. If you have a deadline for your move, you will want to allow yourself about six months to seek and find the best spot for your business. This begins by carefully considering what your business will need. How much square footage, how many parking spaces, and what types of space will your business require? Think long term.

With your needs in mind, you can start looking at properties. You will want to remember the following:

  • Research the areas you think may be a good fit for your business, including current rent, types of business, the overall feel of the neighborhood and the reputation of the landlord.
  • Look at the space through your potential client's eyes to see if having your offices there will present a positive first impression.
  • Ask many questions, such as the amount of common area maintenance fees your rent will include.
  • Tour the building at different times of the day and week to get an idea of the foot traffic you may see.
  • Take the time to review the lease before you sign.

The price alone is not the deciding factor when renting commercial space. In fact, without a careful examination of the lease, you may miss important details about rent increases, maintenance fees and restrictions on how you can use the building. The lease may also include terms that a landlord is willing to negotiate. To improve your chances of getting the best deal on an appropriate space for your business, you may wish to ask an attorney to review your lease and advise you on the most beneficial course of action.

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