Q. As a small business owner I don’t have the money to pay the commission for a realtor or broker. How does this all work?
A. As a general rule, commissions are built in the listing price. In these cases, we can represent you in your leasing or buying process and commissions will be paid by the owner. There may be other services that you want or need and if this becomes the case, we will list the items needed and work out a fee that best suits you.
Q. There seems to be so many properties out there. How do I narrow down the search or know what is right for my business?
A. No one but you can determine what is best suited for your business, but we can help you put the pieces together. Finding a space for your business can ultimately be one of the biggest decisions, but our service provides guidance through the process by narrowing the search and finding what suits you best. Below are items to give consideration when buying or leasing as well as what to consider specific to your business.
- Identify what you really need for your business
- Think through what is acceptable and not acceptable to you and your business
- Study your customers to understand how your location encourages them to do business with you. It may be as simple as upstairs versus bottom floor or is signage important?
- Do your neighbor tenants compliment your business?
Q. I am thinking of moving my business to a larger space but how long does the process usually take?
A. As a small business your company’s needs vary over time and can constantly be changing due to growth or expansion. It can take up to a year or more to find the space that matches your needs. As your company grows, we can assist you as your requirements change because we are about building relationships.
Q. How can Charleston office space listings be obtained?
A. Most brokers in the Charleston area are members of the Charleston Trident Association of Realtors and this allows their listings to be posted on the Multiple Listing Service (MLS) (link to MLS). By agreement of the brokers we can provide all of these listing to you. Since the listing broker represents the seller, it is in your best interest to have representation. We understand small businesses and are committed to giving every client prompt personal attention from start to finish.
Q. What is all this LEASE jargon of "Triple Net", "Full Service", etc.?
A. "Triple Net" and sometime called "Net Lease" refers to the three cost items: (1) property taxes; (2) insurance; and (3) maintenance which is many times referred to as CAM (common area maintenance) and building maintenance in which the tenant is responsible for paying the cost of all three of these items.
In multi-tenant buildings, each tenant will be responsible for their pro-rata share and these cost and will change from year to year as taxes, insurance, etc.. These items are determined and added to the contract base rent price and paid monthly along with the rent payment.
This provides a general overview and these items will vary depending on each building and owner specific situation or style.
"Full Service" “lease the above cost will be determined and added to the total rent price. The rent cost could be higher in this method since the owner would try to well cover anticipated cost. This is generally the practice in small or executive office space.
While this explains some of the terms, there are in many cases combinations of this as each situation may dictate.
Q. What is the difference between rented space versus usable space?
A. In most cases, usable space is the space that the tenant controls and uses. This is experienced mostly in single tenant buildings. Rented space is broader in that it covers a pro-rata share of space cost is not specifically controlled such a restrooms, elevators, lobby and any other space that all the tenants may use. This is found in multi-tenant building Each building may have its own particular situation and this could vary.