Guide to Leasing Your Very First Office Space
Are you looking for office space to launch or expand a business in the Greater Boston Area? Finding the perfect work environment is challenging, and the process takes time. Give yourself at least six months to conduct a thorough search.
Calabrese Law Associates has assembled the following guide for leasing office space in Boston to assist you.
Determine Your Business’s Needs
The first step in searching for an office is determining how much floor space you will need. You should allocate 150 square feet per worker while including room for future expansion, larger offices for executives, and flexibility for an open floor plan.
Location is a crucial factor when choosing office space. Leasing rates vary widely throughout the Greater Boston Area, so you’ll need to select an affordable neighborhood. The location should also be accessible to employees and clients and have amenities such as restaurants, parking, and conference facilities.
Do You Need a Broker to Lease Office Space?
While no law requires you to work with a commercial real estate broker when acquiring office space, doing so is typically in the business owner’s best interests. A professional, experienced broker can save you time by narrowing your search to the properties that meet your needs and fit your budget. Your broker can also effectively represent your financial interests.
Take Office Tours
Your broker can also arrange office tours and help you determine the potential benefits and drawbacks of each location. Questions to ask and factors to consider during your tours include the availability of on-site maintenance, internet access, the total number of building tenants, parking, and the steps involved in the office build-out process.
Understand Your Lease Terms
It is crucial to become familiar with the following terminology and how it impacts the leasing process:
- Base rent: The stated monthly rental rate in a commercial lease, which may remain the same throughout the lease or increase annually
- Escalation clause: In the commercial lease context, this provides the landlord with a right to raise the rent under certain conditions
- RSF: Rentable square feet, or the amount of interior space that is rented and/or usable by the tenant
- CAMS: Common area maintenance. CAM charges often appear in commercial leases for spaces in multi-tenant business parks and are monthly fees that cover various building/parking lot maintenance costs
- USF: Usable square feet, or the result produced when subtracting the amount of unusable tenant space from the entire interior space
You will also need to understand the difference between gross and net lease, as your lease structure will impact how you pay and/or what you are responsible for paying.
Negotiate Your Lease
When you are looking to lease office space, it can be helpful and reassuring to work with an attorney. Commercial real estate laws can be confusing, and it’s easy to make a costly mistake. Your attorney will be familiar with commercial landlord and tenant rules, protect your interests during negotiation and handle all the details, removing the burden from your shoulders.
Move Into Your New Office
Once you have negotiated and signed the lease, you are ready to complete the layout and move into your new office space. You have taken an important step toward achieving your business objectives.
Get Reliable Legal Help When Leasing Office Space in Boston
At Calabrese Law Associates, we help business owners throughout the Greater Boston Area negotiate favorable terms for their new offices. We have a comprehensive understanding of the laws about leasing office space and how they affect your unique situation.
Contact our attorneys to learn more today.
This publication and its contents are not to be construed as legal advice nor a recommendation to you as to how to proceed. Please consult with a local licensed attorney directly before taking any action that could have legal consequences. This publication and its content do not create an attorney-client relationship and are being provided for general informational purposes only.
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