Space Crisis Planning

In a space crunch?

Questions to ask yourself about your program and space needs:

1. How will your program change in the near future?
   The more you expect your program to change, the more appropriate it becomes to stay flexible with your space. A short-term lease or a sublet might be more appropriate than a long-term lease or a purchase.
   
   
2. How much space do you need?
   How much space do you have? Are you using your space efficiently? Could you do with less space or shared space to cut costs?
   
   
3. Does your program require specialized space?
   To the extent the answer is "yes, absolutely unique space is required," then finding a solution will be more difficult, as rental situations will require extensive build-out or tenant improvements. These costs should be factored in when negotiating a new lease.
   
   
4. How tied are you to a particular neighborhood?
   Changing location can affect how your work is perceived by your donors and audience. In today's market, however, committing yourself to your current neighborhood may make it harder to find space and more costly to rent it. Ask yourself: "What neighborhood could work best for me, and which are possible though not perfect?" Look in the best neighborhood and the possible ones.
   
   
5. What stage is the real estate cycle in?
   A hot market means you have to make decisions quickly or you will miss out on opportunities. A hot market means higher lease rates and higher purchase costs. If you choose to buy now, will your space still seem affordable when the market cools? Can you afford to wait and make a decision in a more favorable market?
   
   
6. What can our organization do if we do not need a lot of space?
   If you only need a small space (less than 1,000 sq. ft.), it is unlikely that you will get help from brokers as they get paid based on the size of the space they lease. It is doubly important that you work with non-profit partners, board members, and walk the street to look for space for yourself.

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