The Property Inspection Checklist

Conducting a tour of new office space for lease? Here's a list of things you need to consider to help you avoid any hidden surprises when it comes time to sign a commercial lease. Plus, this property inspection checklist will also help you compare the pros and cons of different spaces you are considering leasing.

Make Sure to Account for all Expenses

Before signing on the dotted line, you'll want to make sure you are aware of all of the expenses associated with leasing this new office space. For example:

• Is electric and gas included in the monthly rate?
• Should you be aware of any other charges (i.e., insurance, maintenance, or taxes)?
• Are janitorial services included in rent, and if so, what does that cover?

Get to Know the Lay of the Land

Office buildings aren't created equal. Here are questions to ask during your walk-through to help you evaluate which office space would be a better fit for your company:

• How many square feet is the office space—and how much of that is usable space? As a general guideline, you'll typically want 175-250 square feet per employee.
• Is the space move-in ready, or do you need to knock down a wall or do other work?
• How long has the space been vacant?
• What is the view like from the space?
• Is there room to expand the space if needed?
• Is the property manager located on-site? How responsive is he or she?
• Does the building/space offer handicapped access?
• What security is in place for the building?
• What are the hours of operation for the building? How can tenants access the building after hours?
• Are there enough elevators—and do they require a long wait?

Don't Forget The Perks

When exploring various office spaces, inquire about the amenities, and whether these are included in the rent, or offered at an added cost. These can include a conference room, fitness center, on-site daycare, and a parking garage.

Location, Location, Location

When it comes to any real estate deal, location matters—a lot. Determine whether the office space is located in a neighborhood that is safe and conveniently located for your employees and your clients.

• How close is it to public transportation?
• How far is it from the airport?
• Are there restaurants and drug stores nearby?

Answering these questions will help you make the best decision for your business when it comes to leasing commercial office space.