Is Craigslist Office Space Safe to Rent?

Craigslist is overwhelmingly used by well-intentioned, honest people. But it’s still important to keep your wits to avoid the bad actors, especially when large sums of money are involved as with an office lease.

Craigslist is a great place to buy and sell personal items and is used in more than 70 countries around the world. But is it a good place to find your company’s next office? In this post, we’ll walk you through everything you need to know to stay safe, avoid getting scammed, and get the best possible deal on your office lease.

Rule #1: Use Common Sense

Let’s be clear: Craigslist is overwhelmingly used by well-intentioned, honest people. But it’s still important to keep your wits to avoid the bad actors, especially when large sums of money are involved as with an office lease.

Tips for Finding Craigslist Office Space

Craigslist’s convenience can make seem like the best available option to rent office space, especially if you’re hoping for a quick move-in. However, you’ll still have to review (and hopefully negotiate) the terms of your lease, which without a lawyer and real estate professional’s help can be a multi-month slow and frustrating process. Even if you’re in a rush to move office spaces, you shouldn’t make any commitments without proper due diligence.

That said, if you decide to tackle the process on your own and find office space on Craigslist, here’s a quick checklist of things to consider:

Understand your office space needs: How many employees do you currently have, and how many do you plan on hiring in the next 2-5 years? As a rule of thumb, budget 150 square feet per employee. Additionally, you should have a goal budget, ideal location, and necessary building amenities (freight elevators, lobby doorman, etc.) in mind. Use these office building characteristics to start curating your search.

Determine optimal lease length: Short-term leases provide your company more flexibility, but often come at a higher price than a long-term commitment. You’ll have to figure out which makes the most sense for your business. Many landlords insist on tenants signing a 3-5 year lease.

Verify that the listing is accurate (and real): Use Google or LinkedIn to ensure the realtor is part of a credible business, and the description or images of the available property are actually of that space. You can confirm a property is on the market and as advertised by contacting the building owner or superintendent. As a rule of thumb, it’s best to avoid listings without images, business email addresses, or a link to a company website.

Do not make any digital payments or give away sensitive information: This is a no-brainer, but worth repeating. We always recommend consulting a lawyer before signing a contract or money exchanges hands. Commercial tenants should never have to pay a broker, so if you’re being charged for services you may want to reconsider your arrangement.

Negotiate lease terms: The type of commercial lease you sign will have a significant impact on how much money you pay for building maintenance, fit-out construction, utilities, insurance, and real estate taxes. Be sure you have a clear understanding of the differences between gross, triple, double, and modified gross leases, and consult a lawyer or licensed commercial real estate broker.

Spare Yourself the Headache and Work with a Tenant Broker

If the list above seems like a lot consider, you’re right. Commercial real estate is a complex industry designed to give property owners an advantage over tenants. But that doesn’t mean you’re destined to end up in an unfavorable office setup.

A licensed tenant broker can make finding your next office space a breeze. Brokers are commercial real estate experts and can help curate your search, negotiate lease terms, and much more. Brokers make their money by charging a fee to landlords, so their services should be free to you.

Most commercial real estate brokerages pay employees commissions based on the size of their deals, meaning brokers are incentivized to place you in the largest, most expensive office space they can find. At SquareFoot, we do things a little differently. Our brokerage team is salaried, so they are entirely focused on helping you find the perfect office space for your needs.

So, why work with a SquareFoot broker?

1. Curate your search with the help of an industry expert and SquareFoot’s proprietary data and technology
2. Get help negotiating lease terms with landlords
3. 100% free for you, with no commitment

Tell us more about your office space needs and we’ll pair you with one of our licensed brokers. Start your search today!