You’re thinking about a new office space! Incredible. I know it’s an exciting (and equally scary) venture to find potential spaces that are the perfect fit for you and your team. And since this process is such a beast, I’ve created a guide to questions you may or may not have thought of as you begin interviewing landlords in your area.
With this as a guide, you’ll be able to avoid a lot of sticky situations that can easily arise from not being thorough with the initial discovery process. After all, you want to be able to make the most informed and well-thought-out decision possible, as this space will effectively be your child for the duration of your lease.
Let’s get going! Of course, in addition to this list, you’ll want to have your own list of questions to bring to your potential landlord when you chat.
20 Questions for a Landlord
• If the space is in a shopping center, ask about Common Area Maintenance (CAM) fees. CAM fees are additional rent costs, on top of your base rent, associated with overall maintenance for the building. For example, who takes care of landscape maintenance?
• Who pays for fire inspection?
• Is parking included, or are there extra fees associated with parking?
• What is the location zoned for?
• What happens in the case of natural disaster damage, or a freak accident?
• Is security available on site?
• Does the landlord take care of the HVAC system?
• Are animals allowed on the premises?
• What type of insurance coverage do I need?
• Will my business be exclusive to the complex? Meaning, may the landlord add another massage practice rental to the building?
• What’s the nearest interstate/point of reference?
• If I improve the building, will that be deducted from the first month’s rent?
• What is the cost of the deposit?
• Has the space been inspected for mold/termite damage?
• Who were the two most recent tenants to move in and when? (Approach these tenants, identify yourself as a potential new neighbor and ask them how their lease negotiations went. If the leasing agent claims they have only recently acquired the listing and do not know, push for the details.)
• Who were the last two tenants to move out? When and why did they move out? Did they move across the street or did they close? (As before, you will want to speak to these former tenants and ask for more details about their reasons for leaving as well as their opinions of the landlord, property manager and the property itself.)
• How long has the landlord owned the property? Long-time landlords are knowledgeable about the property, will retain interest in continued ownership and have more realistic rent expectations. A new landlord may have a high mortgage and charge tenants higher rents to cover the cost.
• What is the building’s history? An older building may require further upkeep and maintenance, which tenants pay for in Common Area Maintenance (CAM) charges. If there has been a high turnover of tenants in the past, for any reason, this should raise a red flag for you.
• Is the building for sale?
• What is the rental rate increase per year, if any?
Don’t be intimidated by this process! You have all the tools you need to find the perfect space that will take care of you, just as you take care of your clients.
About the Author
Rebecca Brumfield, LMT, is the founder of Badass Bodyworkers. For more mindset tips and business mentoring, visit our free community of Badass Bodyworkers on Facebook. Her articles for MASSAGE Magazine include “5 Easy Ways to Get More Clients—Even on a Bootstrap Budget” and “10 Steps to Get from Burnout to Badass.”