1. WHAT IS THE NONPROFIT'S ROLE?

Get an early start
In planning your space search, leave yourself plenty of time to explore your options -- at least three months and preferably six to nine months. In markets where vacancy is over 8-10%, deal cycles tend to be longer, and it is recommended that at least six months is budgeted towards the space search.

You direct the process
You must be involved in the process of finding the right space. The first step is to know what your needs are now and over the next few years. As mentioned above, you should have a clear idea of the type and amount of space you require, the best locations for your clients and staff, and the maximum amount you can spend for rent and improvements. Although brokers, lawyers, and architects may be advising you, it is in your best interest to learn and understand as much as possible throughout the process since you will ultimately need to find an arrangement that meets your financial and organizational needs (see question 2, "What are the roles of outside consultants?").

Working as a team
A small "space search" committee (2 or 3 people) should do groundwork. Ultimately, your board of directors may give the committee authority to negotiate and/or make final decisions if time does not permit full board consultation.

© 2000 by the NONPROFIT FINANCE FUND

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