Office Space

Office Space: How These CAM Costs May Be Overlooked

Office Space

Many times a business owner who is interested in leasing office space will forget to consider common area intenance, or CAM, fees when they are comparing prices and figuring out if the lease is affordable. CAM costs are fees which the landlord charges in order to offset their expenses related to maintaining the common areas of the office building. There are a few different reasons why these CAM costs can be overlooked.

Office Tenants Don’t Read the Lease

Fees, such as CAM costs, should be properly stated in the leasing agreement. However, some business owners are in such a hurry to get into their new office space and are overwhelmed by the legal agreements for leases that they simply don’t read the lease completely and fully. This can make overlooking the CAM fees pretty common. When you lease office space, you always must consider that CAM costs will be an issue for the tenant. Most landlords will make these fees a part of the leasing arrangement to ensure that they won’t be stuck with paying for common area maintenance.

New Office Space Tenants May Not Be Familiar with CAM Fees

If you are a new office space tenant, having never leased an office prior to this point, you may not even know that CAM costs are an issue. Many new office space tenants simply think that commercial office space rent is all that will need to be paid throughout the course of the lease agreement. This is not the case. Therefore, you should always be aware that CAM costs are common and must be factored into the total amount of the lease.

Business Tenants Might Not Have a Tenant Representative to Help

Many business owners go into leasing commercial real estate without a tenant representative by their side. This can be a costly mistake as they may enter into an agreement without fully understanding what they are doing. A tenant representative will always point out the CAM costs and make sure that the business owner tenant is able to afford such costs. In addition, a tenant representative will know how to negotiate with the landlord regarding CAM costs and may be able to get a lesser fee when it comes to CAM costs charged to the tenant.

CAM costs are easy to overlook when leasing commercial real estate, especially if you are new to commercial office space leasing. These costs can be expensive in the end and it is important to know how much you will need to pay for common area maintenance and see if you can negotiate these fees so that they are affordable. Before you enter into a leasing agreement, make sure that you thoroughly review the contract and be certain to focus in on any CAM fees which are included in the agreement. A tenant representative is the best person to have by your side when leasing office space and reviewing the agreement. This individual will ensure that you are properly informed as to any and all fees, such as CAM costs, which may be part
of your future lease.

Commercial Office Space

Commercial Real Estate

Commercial Office Space

Business owners who wish to lease commercial real estate have plenty of choices these days. Since not all business owners require the same type of commercial real estate, it is good to know that there are various options available. Some individuals who own businesses do so in the retail industry whereas others work in a light industrial setting. Whichever industry one is hoping to find a new office home within, there is sure to be quite a few choices, especially in downtown Chicago and the surrounding suburbs. The following will highlight some types of commercial real estate and detail what things prospective commercial tenants should look for in a commercial real estate setting.

Office Space

Professional office space is high in demand in the Chicago area. Appraisers, insurance agents, attorneys, medical professionals and those in many other industries need professional office space to operate their business out of on a daily basis. Some office space for Chicago professionals consists of a single office whereas others may be a few floors in a large office building. When choosing the right professional office space setting, business owners must consider location, square footage, office amenities, parking and more. Before settling on a specific office for your company, make sure that your desired inclusions are a part of the decision-making process.

Industrial Real Estate

For those who work in a more industrial field, industrial real estate space is necessary for day-to-day business operations. As with professional office space, the Chicago area also holds many options for industrial business owners. When considering industrial real estate locations, one must look at the surrounding neighbors to ensure that it is industry-friendly, in addition to checking on local zoning regulations to ensure that industrial operations are allowed. The landlord of the prospective commercial real estate will be able to answer these questions for you. You should also make sure that the industrial real estate location you select will properly accommodate the size of your business and be feasible for all of your work operations.

Retail Space

Retail shops are in abundance in Chicago and the surrounding suburbs and do a great deal of business, no matter what the retail operations may be. If your retail store is looking for a new home in Chicago, you will find plenty of retail lease options in most areas throughout the city and on the outskirts as well. Some features which you should look into prior to leasing a particular retail space include square footage, amenities, parking options, layout, delivery entrances and more. Taking a closer look at the current retail space neighbors will also help you to determine whether or not a particular spot will be the most lucrative one for your business.

There are so many different commercial leasing options available to business owners in Chicago and the Chicago suburbs. No matter whether your business is professional, industrial or retail, there is a future commercial home for you in the Chicago area. The best way to ensure that your leasing choice is the right one is to have a tenant representative by your side every point in the search.