Steps For Using Financial Analysis Results In Negotiations

There are many ways to negotiate when it comes to commercial office space leases. Financial analysis is one tool which will help in your negotiations with current or prospective landlords. The financial analysis is the process by which you consider all of the costs associated with the lease and then use a financial program to come up with an end figure detailing how much the lease will truly cost you as a commercial tenant. It is these figures which will help you in the negotiation phase of commercial office space leasing.

Why You Need Financial Analysis for Negotiations

Negotiations for commercial real estate leasing are time-consuming and involved in nature. You are not simply renting a home or an apartment, you are securing an office space lease which often carries with it a lengthy lease term. There is plenty to discuss during commercial leasing negotiations and large amounts of money at stake. Therefore, you want to be sure that the negotiations work well in your favor, the tenant. Financial analysis figures will help to show the landlord what you will be paying, outside of simply the base rental payments.

There are many other costs to consider with commercial office space leasing and you want to bring such costs to the attention of the landlord. This will also be a beneficial path to pursue, since you want to determine what your landlord will pay for and what you will be responsible for paying on your end of the tenancy. A financial analysis will lay it all out on the table and ensure that no stones are unturned during the leasing negotiation process.

Steps for Using Financial Analysis Figures During Negotiations

When a landlord is figuring out how much to charge a tenant for rent, they look at the effective rental rate. This rate takes into consideration factors such as market rental rates seen in comparable buildings, building operating costs and total transaction costs. With these three encompassing factors in mind, the landlord comes up with the rental rate. How do tenants go about reducing the rental rate asked for at negotiations? By completing a financial analysis of their own. By doing so, the tenant can show that certain aspects should be less, or more, in cost to get the negotiations to favor their side and, ultimately, result in a lesser amount on the overall rental rate.

To have your points duly noted, use a proper financial analysis program to come up with the figures. This will hold the most weight when you are in the negotiation phase with your landlord as you have concrete figures to show for your point of view. Also, have a tenant representative along with you for the negotiations. It’s important to be properly represented so that you are not going it alone in negotiations with the landlord. Lastly, be reasonable with your requests, especially if the office space is a highly coveted one and there is a bit of competition as to other prospective tenants wanting the same location as you. The landlord will be less likely to be flexible if there is another business owner out there who will pay the asking price for the office space lease.

Financial analysis is extremely important in commercial office space lease negotiations and you want to make sure you sit down at the negotiation table with financial analysis paperwork in hand and a tenant representative by your side.

Office Space: Make The Tenant Improvement Allowance Work For You

Many office space leases will be a good fit for companies yet there may be some improvements which have to be done in order to make the premises a perfect fit for the tenant. For this reason, tenant improvement allowances are often included within the commercial office space lease. These allowances come in different forms. Two of the most common forms include a turn-key build-out and a fixed rate allowance.

Difference Between a Turn-Key Build-Out and Fixed Rate Allowance

With a turn-key build-out tenant improvement allowance, the landlord will pay all costs to get your leased premises situated the way that you want them to be. On the other hand, a fixed rate allowance is when the landlord will give you a set amount of funds and anything over that amount will need to be paid by you, out-of-pocket. Both provide tenant improvements for the company owner leasing the space, however, both are quite different in nature.

With the turn-key build-out, you will be ensured that the money is paid for your improvements, however, you may not have the last word regarding what is done, how it is completed and when it is completed by. The landlord will have more control over the work. With the fixed rate allowance, you will have more control over what improvements are made and when but you may find yourself facing some out-of-pocket costs in the end if the project costs more than what was allotted to you under the lease.

How to Benefit from the Tenant Allowance

In order to benefit most from the tenant allowance, consider what improvements you plan on making to the leased premises. If you only plan on completing simple repairs and construction, a turn-key build-out might work fine for you because you won’t need too much control over simple tenant improvements and you will be ensured that the landlord pays for everything which has to be done. If your tenant improvements are more voluminous in nature and you can figure out exactly how much money you need to get the job done and want to ensure that it’s done according to your specifications and schedule, a fixed rate allowance might be best.

Keep in mind that you may always negotiate when it comes to tenant improvement allowances. You can choose a hybrid form of the two options listed above to have the type of tenant improvement allowance which will work in your favor. You may ask the landlord to provide for a turn-key build-out allowance but request that you be able to choose a project manager to oversee the entire project and have this individual report to you. Should you prefer the fixed rate allowance, ask if the landlord would be willing to pay for any extra money needed during the process, which couldn’t be accounted for until the project was underway. Just be sure to have these terms listed in the lease, otherwise, they won’t be valid terms.

Your tenant representative will guide you in the tenant improvement allowance process and go through all of the details with you to ensure that you are making the right choice with regard to this lease term.

Schiller Park

Office Space Leasing Options In Schiller Park

Schiller ParkLocated in Cook County, the Village of Schiller Park has a population of close to 12,000. Residents as well as business owners settle in Schiller Park for many reasons including its convenient location, large number of shopping and dining establishments, recreational activities and overall welcoming environment. Business owners find that leasing commercial office space in Schiller Park simply makes sense for their business.

Where Is Schiller Park Located?

Schiller Park is located northwest of Chicago. Getting to Schiller Park is an easy feat with plenty of major highways and local roads surrounding it. I-294, I-90, Lawrence Avenue and River Road are a few roadways which will get you where you need to go in and around Schiller Park. Public transportation options are available and O’Hare International Airport is close by. The suburban location of Schiller Park makes it a perfect spot for business owners who want a city-like feel but want the location to be outside of the Chicago city limits.

Restaurant and Shopping Options

When leasing office space for your company, you should always be mindful of what amenities are nearby, especially dining and shopping establishments. These will come in handy during lunch breaks and your employees will appreciate having restaurants and stores in close proximity to their work. Some of the dining and shopping options in Schiller Park include Bacci Pizzeria, Bella Sera, Panda Express, Starbucks, Dunkin’ Donuts, Walgreens, Spring and more. There are also many other types of service providers which will benefit your office employees and be convenient for your customers as well.

Recreation and EntertainmentHand Shake

Schiller Park has a variety of recreational and entertainment amenities. The Activity Center, Anna Montana Water Park and Bluthardt Recreation Center are popular spots. For those seeking out some outdoor recreation options, there are seven individual parks in the Village of Schiller Park which are perfect spots for spending your lunch break or enjoying after work. Schiller Park is also known for its annual events and festivals, including the popular Car Show and Family Fun Day.

Finding Your Schiller Park Commercial Office Space

Schiller Park commercial leasing options are available in various forms throughout town. Some business owners are seeking out a single office space setting while others are looking for larger office buildings to accommodate their entire company. Schiller Park offers both types of leasing options for commercial office space seekers. The close proximity to highways and the airport makes Schiller Park desirable for companies who see a lot of consumer traffic from those outside of the area as well as in the Schiller Park region.

Tenant representatives can help make the process of finding a new office space to lease easy. You want to pick the right location for your business and choose a lease which will accommodate your commercial office needs. Schiller Park has quite a few leasing options for businesses, in a variety of industries. Whether you are an insurance agent searching for a new commercial office or a doctor’s office in need of an extended office space lease, Schiller Park is a good place to look for leasing possibilities.

Wood Dale Office Space

Wood Dale Office Space For Lease

Wood Dale Office SpaceWith a population of over 13,000, Wood Dale is a good-sized Chicago suburb. Located in DuPage County, Wood Dale offers plenty for both residents and businesses. Residents can choose from townhomes, condos and single family homes while business owners can choose to lease or buy a wide array of commercial properties in Wood Dale. Both types of Wood Dale residents find that the community offers so much in the way of ease of access, plentiful amenities and a friendly community vibe. If you are a business owner, leasing an office in Wood Dale simply makes sense.

Wood Dale Offers Suburban Attributes with City-like Convenience

When you lease your next Wood Dale office space, you will appreciate the suburban attributes while finding that city-like features are there as well. Public transportation is available in Wood Dale. Metra offers daily train service and Pace bus routes are present as well. For those who use the roadways, main routes such as I-90, I-294 and I-355 as well as plenty of other connector roads and local roadways help Wood Dale residents, business owners, employees and customers get around the city.

The amenities which Wood Dale offers makes you feel as if you are in the heart of the big city but still in a location where suburban aspects can be yours. Shopping and dining in Wood Dale is easy to do. Some of the stores you will find in Wood Dale include Target, Big Lots, Petco and smaller shops while the dining options include names such as Christy’s Restaurant Pancake House, Sweet Baby Ray’s Barbecue, Marino’s Pizzeria & Cafe, Shorty’s and Thornwood Restaurant Lounge, to name a few.

Plenty to Do in Wood Dale

When you lease an office in a particular city, you will usually be concerned with the office space itself and what features this lease location offers to you and your employees. However, it is always wise to pick a location where entertainment and recreational activities are close by. These areas will draw residents, as well as those who live outside of Wood Dale, to the area, which in turn could equate to new customers for your business. Wood Dale Clock

In Wood Dale, there is a wonderful Park District, which will bring people to the area and be a good option for your employees on their lunch breaks to get some outdoor time. There is also a Movie in the Park series, which is a good recreational activity option. Golfers will enjoy the Wood Dale area golf courses and there are Wood Dale fitness centers which your employees are sure to love having close by.

Lease An Office in Wood Dale and Boost Your Consumer Base

No matter what industry your work is based in, Wood Dale offers the ideal lease spot for you. With its location, amenities and generous resident base, your customer list is bound to grow. Leasing an office in Wood Dale ensures that you are picking a spot which has the right features for your company and its employees.

Warrenville Office Space

Warrenville Commercial Office Space Leasing

Warrenville Office Space

Business owners have a big decision to make when it comes to office space leasing in the Chicago area. Some business owners focus their office space search within the city limits whereas others prefer a suburban locale. For those who prefer the latter, Warrenville is a great choice. Situated 30 miles west of Chicago, Warrenville is an ideal location. It is not too far from the city but far enough away to maintain suburban, small town attributes. With a population of more than 13,000, there are plenty of opportunities available to business owners leasing office space in Warrenville.

About Warrenville

Warrenville has a larger population than some of its suburban neighbors but still maintains a small town feel. Residents choose Warrenville for its many residential options but also because plenty of businesses are close by as well. Businesses, in a variety of sizes, fill Warrenville. Some of the more prominent ones include Exelon, Edward Hospital, Target and Life Time Fitness. Warrenville is also home to many restaurants and smaller, privately-owned shops in addition to many professional service providers.

Things To Do In Warrenville

There is so much to do in Warrenville. This comes in handy for business owners and their employees during their time off from work. Movie theaters, restaurants, parks, shopping and more await you in Warrenville. This is a draw not only for the business employees but also for the customers who utilize your business services or buy your products. That which draws them to Warrenville makes it more likely that these individuals come across your business as well. Warrenville is an established city with plenty of attractive qualities for those who live there, work there and simply come to town for a visit.

Why You Should Lease Office Space In Warrenville

Warrenville office space

There are many choices when it comes to leasing commercial office space. As a business owner, you have to pick the location which will be the best choice for your company. Warrenville is an excellent choice. Whether your business is a small, private company or large corporation, Warrenville commercial real estate is available for lease. Consider factors such as the part of town you lease your office within, the interior amenities, the exterior amenities, parking options and more. You should also consider public transportation options for the benefit of your employees who may be commuting to and from work via public transportation.

Also, when you choose to lease an office in Warrenville, you are leasing commercial space in an area which encourages new business. The commercial arena is a positive one in Warrenville and will welcome your company with open arms. In addition, Warrenville is a city with a generous amount of residents. This means that your consumer base is sure to flourish in a locale such as Warrenville.

Warrenville is the city of choice for businesses of all sizes. You will have a good customer base, plenty of leasing options and the ability to work in a location which does not have to deal with some of the issues a large city, i.e. Chicago, has to face, such as traffic jams, parking problems and high rental prices. Warrenville has much to offer commercial entities which open up their doors within the city limits.