When looking for office space for rent, calculating the total cost is crucial. Many business owners take a look at square footage and calculate the cost based solely on this number, which can be a costly mistake. While many corporate space leases clearly define what is included and what is not, others are deliberately confusing or contain fine print that is difficult to interpret. Before signing any lease, be sure to ask about common hidden costs that can quickly add to your monthly costs.

Remember the cost of furniture

While you may intend to move most of your current office furniture to its new location, it is inevitable that there will be some pieces that you will need to buy new or rent for the long term. You may also find that some of your furniture will not work well in the new office, so be sure to measure everything and determine what you will need to replace and what new parts you will need to invest in. If there isn’t enough ambient lighting, even the cost of new task lighting can quickly add up.

Security and services

Do office rental contracts in your area usually include extras such as cleaning and security services? If it is not included, you will have to pay a premium to third party service providers to ensure that your property is properly maintained and protected against theft, vandalism and other security risks. In some cases, a homeowner may even make payment for these additional services mandatory, which could add several hundred dollars to their monthly budget. Ask the owner if cleaning and security are included. If security is included, make sure you know what it includes. Is there a night watchman? A security officer on duty during business hours?

Public services and Internet access in offices for rent

Commercial owners with office space for rent generally do not include utilities in the listing price of the space because there is no way to determine precisely how much electricity each tenant will use and a uniform division is not fair to businesses that maintain the use of electricity and internet. to the minimum. But this does not mean that you cannot have a general idea of ​​what your utilities will cost. Ask to see examples of utility costs for the past six months for a comparable unit for an approximate number you can work with.

Sometimes a landlord may include the cost of electricity in the office space rental agreement based on the load (the amount of energy used). If this is the case, make sure the figure used is the “demand load”, which is the actual amount of energy you use each month. Some will use “connected load,” which calculates a figure based on whether accessories are connected. In other words, as long as your computers are connected, you will pay for energy even when you are not using the machines.

Maintenance requirements

If you find office space for rent that includes reasonable maintenance fees, you might be in luck. If your fees are minimal, you could save yourself a lot of trouble down the road when you need to perform routine maintenance. But what you perceive as reasonable may not be the same for your landlord. Your definition of “routine” may also be different. You probably want to include snow removal, but not change the bulbs or you could end up paying a maintenance provider $ 50 or more each time you need to change a bulb.

The cost of ending a lease

Office space for rent in popular urban areas can usually fill up quickly, but most landlords include a penalty clause for early termination of a rental agreement. This can be from the first and last month’s rent to the full cost of the remaining time of the lease. You may also need to return the space to its original condition, including patching and repainting the walls, removing added fixtures, and replacing anything (like window blinds) that you removed when you took possession of the property. .

When looking for an office space to rent, make sure you are equipped with the right questions so that you can determine not only the obvious but the hidden costs as well. This can protect you from unexpected expenses that could give your business additional financial headaches that you don’t need when you move out.