Commercial Property Management

Requirements For An Office Space

Posted on September 11, 2011

In a huge building or establishment, small office spaces are needed because these will be where the employees will work. The work area or the office space plays an important role for the people who are going to work in such area because it may affect their efficiency and their productivity. This is why planners like you who are responsible of designing, decorating and organizing an office space consider a lot of things before they proceed to what should be done. If you are going to decide on the amount of space needed for a particular work area, you have to include the equipment and furniture needed in the area in your overall consideration. You have to remember that tables, chairs and storage equipment are needed in an office space. And if you consider such things, the office space would be more useful and functional. Aside from the dimension and the size of the work space, there are other things that you also have to look into. You might want to ask yourself some questions along the way to make sure that you will be able to come up with a small but ideal work space.

The amount of space needed for an office can be determined by the nature of the job. If you are working for a company or a business that handles a job that is mostly done in the field or a site, a smaller space would be more appropriate since the person who will be working on the workspace will not be around most of the time. But if it is the other way around, a bigger office space is more adequate. Aside from the nature of the job, cultural aspects, the body dimensions and some other factors may also help in determining the amount of space needed.

Although the space is limited, you still have to make sure that the individual who will be in such workspace will have some privacy. An ideal office space should provide even just a little privacy so that the person can still take some necessary and confidential phone calls. It is best that the individual in the area can work without too much distraction and noise because these things may greatly affect the person's performance when it comes to his/her work. To make this possible, you can consider some walls that will serve as something that would separate a particular workspace from another. But you have to decide on which one is more practical - fixed/permanent walls or those that can be removed when necessary.

These are just some of the requirements for an office space that you can look into, as a planner. You can also do a little research if you need more information as to what are the other important requirements. You can browse online or perhaps ask some additional ideas to other planners regarding this matter so that you can also apply such ideas on your work. In this way, you will learn new and useful things which are great additions to what you already know.

7 Key Negotiation Problems in Commercial Real Estate Sales and Leasing

Posted on September 3, 2011

In commercial real estate sales and leasing you as a real estate agent will have problems in negotiation with many deals. When there is a lot of money involved or big decisions are pending then things can and usually do get tougher. Expect every deal to be a tough deal; it will keep you on focus.

Importantly you should be well positioned to see the signs of negotiation difficulty and be well-practiced to handle them. When the going gets tough with your listing or in closing the deal, you should be prepared for the negotiation battle.

There are some key signs or 'red flags' that things can be tougher in a property negotiation. They are:

  1. Missing information at the critical stages of the contract or lease.
  2. Major differences in a price or rent that is asked or offered for the property.
  3. Improvements or location not exactly matching the needs of the buyer or tenant.
  4. Communications of the elements of the deal are not open and flowing back to you from one or both of the parties.
  5. You are handling the transaction through an intermediary that is not getting back to you with updates.
  6. Key people are not returning your calls or your emails in a timely way. Time is not critical to one or both of the parties and is delaying their responses.
  7. Many 'subject to' conditions on the property sale or lease still remain to be satisfied before the transaction is to be finalised.

When you see any of these events in a property sale or lease negotiation, you know that things can easily go into the 'trouble phase'. The best way to keep a property transaction on the move and under control is to be on the 'front foot' of contact and closure. Preparation is the key.

Expect some things to go wrong and for that single reason stay with all elements of the deal from start to the very finish. When a deal seems to be done, it is generally not done in every respect. Stay with the deal in every respect. Talk to the key people continually to ensure that momentum and all actions expected of the parties is happening exactly as planned. Here are some rules for the progress of the deal to completion:

  • Get written acceptance or agreement from the parties as the sale or lease proceeds through phases.
  • Keep your client updated of all progress.
  • Make notes of the feedback and comments that people give you.
  • Follow-up all matters outstanding.

When a sale contract or a lease seems to be completed and agreed, there is still a lot of action happening between the parties and the actual exchange of money or final documents. Solicitors or accountants get involved and come up with unknown or unexpected issues for their clients, the head office of the business can step in with other questions and issues, or perhaps the approval criteria or 'subject to' terms and conditions of the deal get delayed by banks or other authorities.

Real Estate Related Considerations When Looking To Expand Your Company

Posted on August 30, 2011

No company will ever say no to additional business, especially start-up businesses who would like to expand and generate more income and increase their customer base for their products or services, even if it means relocating to another place. Finding the most appropriate location when expanding your company will greatly affect whether or not your business will continue to flourish.

Finding the perfect spot for your business may take a few tries, especially if your business relies on location, imagery and client loyalty. Lease out short-term commercial spaces with high people traffic and with close proximity to public transportation to maximize your location. Optimal amounts of exposure of your business to the general public will help to spread word and brand identity without much effort on your part.

Another reason for relocating your business is space expansion. If the number of your customers is increasing, it means you will need to hire additional working staff translating to larger space for both.

Find a location that has a little allowance for additional space. Having anticipated space that you can use for future expansions saves you time and money for future relocations. The amount of space available to employees in an office makes an impact on their attitude, efficiency, and the overall atmosphere of the office.

Moving to a bigger and better space also boosts the morale of both employees and yourself. Having a bigger space meant business is growing and more opportunity for the business to grow.

Opposite to that, some companies may need to relocate to a smaller office, either due to declining business, or there simply is just no need for a big unit. The extra dollars spent on large commercial spaces may be used in other components of the business.

Seek the help of commercial real estate agents to make office space hunting, negotiating and transacting easier. Having an expert handle the task will not only remove the burden from your back, you will most likely be able to get the best deals for the best spots for your business. The ideal location for your business could pay for the agent's expertise very quickly and result in extra profit for you to keep or reinvest back into your business.

Whether moving out for expansion, or relocating for downsizing, always make sure that the place you'll move into will be most beneficial and most practical for your company. Never settle on a commercial space with going through a number of spaces available for comparison.