The Office Leasing Timeline
So you’ve decided to rent an office space. That is some exciting news. Before you get too excited, however, you should plan ahead to ensure that the leasing process goes smoothly.Here is a rough six-month office leasing timeline to help you plan for the perfect office space.
Office Leasing Timeline: Month 1
First thing’s first—you need to be aware of the amount of time it takes for transactions to occur. It may take up to six months for the process to be complete. If you are looking for a fast process then that may not be realistic.You will need to have a set budget and have a clear understanding of your current lease. You should have a definite list of goals, objectives and needs. Make sure everyone in the organization or company is on the same page.Seek help from a licensed real estate agent. They will discover what is on the market and find locations that are within your budget. Once you find the perfect space, the leasing process begins.
Office Leasing Timeline: Month 2
Space planning begins to take shape during the second month. There should be a flow to your future working environment. Make a time allotment that gives you the opportunity to fix any problems that may occur.
Office Leasing Timeline: Month 3
The largest step during the third month is the lengthy work that will take place to ensure that the lease, any legalities and terms are in accordance with one another. You will be talking extensively with your real estate agent and lawyer.
Office Leasing Timeline: Month 4
Now that there is a "living lease," which means it can be changed if there are any issues, your lawyer and real estate agent with discuss the legal and business terms of the contract. Once the lease is checked there will be a meeting to finalize the legal terms.
Office Leasing Timeline: Months 5 and 6
If you need to make changes to the building or offices, you will need to work with the future landlord. Be sure to ask them whether they provide help with the building experience or have specific contractors suited to work on the building.During the last two months you will be preparing the space for your arrival and moving in. Also be sure to ask your landlord if they provide moving assistance.Also in your process, do not forget to budget for moving costs.Now, take into consideration, that the leasing experience will vary depending on the situation. The aforementioned timeline is a rough example of what to expect when looking for properties. It is best to give yourself a few months, preferably half a year, to allow room for any issues that may arise.