The Commercial Real Estate Blog

How Much is a Security Deposit for Office Space

Before business owners make a decision about an office space, they will want to know about the security deposit. For numerous years, many proprietors stand by the standard practice of securing a month’s payment as a deposit. In the early years, business owners were able to lease an office space with one-month deposit, a full tenant build-out provided by the property owner, and a corporate guarantee. However, any office space agent will tell his clients that these requirements are no longer applicable, as it will take a lot more to secure an office lease in today’s world.

How much does it Cost to Secure an Office Space?

Nowadays, it takes a lot more for business owners to lease an office space. A number of commercial property owners will request at least, a two-month deposit and two or three guarantors. Typically, this does not include build-out allowances. In some cases, business owners can expect to pay a security deposit that cost about $50 per square footage. This amount is definitely a lot higher compared to several years ago.

Retain a Commercial Realtor

In order to ensure that entrepreneurs get the best deal out of their office lease, they should retain the services of an office space agent. Commercial real estate agents are able to negotiate prices to suit their clients’ budget and needs. By performing this task on their own, business owners might end up paying more than they planned, or losing the perfect office space for their business. Office space agents offer so much more than just acquiring an office space at the best price. They can find the perfect location for their clients’ business within a short time that includes all sorts of amenities.

Where to Find the Best Commercial Broker

To find an office space agent who can obtain a low security deposit, entrepreneurs should search online. The Internet offers a wide range of commercial real estate brokers who specialize in various types of offices.  

If you are interested in finding out more, please contact Darell Handler at 646.783.3750 or click below and he will contact you.