| Leasing executive office space in downtown St. | | | | answering with reception services, a conference |
| Louis or elsewhere is one of the most important | | | | room, on-site security, telephone and long distance |
| business decisions you will make. The majority of | | | | with dedicated phone number, secretarial services |
| your working time will be spent in your office. | | | | (word processing, copies, postage), and janitorial |
| Your best creative thoughts will be hatched, your | | | | services. For the independent or small |
| most important client meetings will be held, your | | | | businessperson, an all-inclusive full-service office |
| biggest deals will be made - all in your office. | | | | suite can give you everything you need for one |
| Therefore, finding the right office space for lease | | | | price. An added benefit: renting such an executive |
| is a critical decision. | | | | office suite can give your business a more |
| Following a methodical process when searching for | | | | professional image. |
| office space will help you find the solution that's | | | | Try to speak with some of the current tenants |
| right for you. Here are some things to consider | | | | of the building. If the landlord balks at this request, |
| when leasing office space: | | | | it could be a red flag that something is amiss. |
| Gain an understanding of what your requirements | | | | Most landlords will give you some tenant |
| are. Do this before doing anything else. Consider | | | | references. |
| your business needs (square footage, room to | | | | Review your lease very carefully before signing. |
| expand, parking, location, lease term length, | | | | Understand your rights with regard to the use of |
| ground floor or a higher floor). A good space | | | | common areas, the type of security provided, |
| requirement rule of thumb is to look for around | | | | what is included (taxes, insurance, repairs, |
| 200 ft of office space per employee. When | | | | utilities?), your security deposit, who will make and |
| searching for a location, consider locating close to | | | | pay for improvements, your rights to expand in |
| where your clients are. If you'll be entertaining | | | | the future, future rent increases tied to inflation |
| clients, look for office space near the restaurants | | | | or CPI, provisions for exiting the lease early, |
| and pubs you'll be taking your client to. | | | | provisions for contraction (reducing your square |
| Contact the leasing agent of the spaces you're | | | | footage), right of first refusal on adjoining space, |
| interested in and ask for rates and terms. Also | | | | and provisions for extending your lease term. |
| ask any other pertinent questions you have. Find | | | | Here is where you might consider working with a |
| out how much the space is per month, what | | | | real estate attorney. |
| deposit is required at the time of lease execution, | | | | If applicable, review and understand any rules or |
| the term of the lease, etc. If you're using a real | | | | restrictions on signage.Depending on the size of |
| estate broker, they can assist with this step. | | | | your business, you might be in line to have |
| Visit the spaces you're interested in to see if they | | | | exterior signage. At the very least, you'll want |
| meet your needs. Amount of space is important, | | | | proper branded signage at the entrance to your |
| but so is "look and feel." How do you feel in the | | | | office suite. |
| space? If you need access to a break room or a | | | | If you decide you want the space, your potential |
| kitchen, does the office suite offer such access? | | | | landlord will want to learn about your company's |
| Is there a reception area? Also look around to | | | | background and fiscal history. While the list below |
| ensure that the space has proper storage for files | | | | is not exhaustive, having this info ready for your |
| and office supplies. | | | | potential landlord will expedite the application |
| Identify any space improvement needs and speak | | | | process. If you are lacking some of the below |
| with the landlord about them. At a minimum, the | | | | information, or if you have damaged credit, it |
| space should be in proper working order, unless | | | | may still be worth exploring your options with |
| you mutually agree with the landlord to take on | | | | landlords. The market is tough right now, and |
| improvements yourself. Many landlords offer a | | | | landlords may be willing to work with you. When |
| build-out allowance, also called TI (Tenant | | | | you've decided to apply for a particular office |
| Improvements). Depending on your needs, you | | | | space, have the following ready for the leasing |
| may negotiate this with your landlord. | | | | agent: |
| To save money, consider sharing office space | | | | - A completed tenant application - your landlord |
| with a partner. If you can find someone or an | | | | will undoubtedly provide this form to you. |
| organization that you and your staff can coexist | | | | - Contact info for your previous landlord and/or |
| with, this may be a great way to get professional | | | | previous creditors. Your new landlord will likely |
| space without paying a premium. Keep in mind the | | | | want to check references. |
| downside of such an arrangement - your office | | | | - Your Dun & Bradstreet number |
| partner might want to leave before you are | | | | - Several prior years of tax returns |
| ready for them to go. This could leave you paying | | | | - Audited financial statements, if you have them |
| for the entire space yourself. | | | | Finally, before signing a office space lease, ensure |
| Consider all-inclusive executive office suites. Often | | | | that the person signing on your behalf is |
| called business amenity suites, legal suites, or | | | | authorized to bind your organization to the terms |
| office suites, these are a great solution for the | | | | of the lease. |
| independent attorney, architect, CPA, or | | | | Conducting your office space search using the tips |
| consultant that needs professional space. For one | | | | provided above should give you the best chance |
| all-inclusive price, you can lease an Internet-ready | | | | to land the executive office space your company |
| space that includes furniture, live telephone | | | | needs. |