Having an office space that’s just right is a lot more important than you think. It can build up an appropriate atmosphere for your coworkers and can be key to encouraging cooperation or employee well-being.
Finding the right office space can seem like a daunting task, but don’t worry! This article will give a step-to-step guide on how to rent office space.
Pick a Location for Renting Office Space
The first thing to consider when leasing office space is where you want to be settled. Maybe you have an idea of where your employees live and would like to choose a location that’s convenient for them. You would also want to find out more about the neighborhood and the environment of the location.
This can include whether the office space for rent is close to public transport or is easily commutable. You may want to see whether it is situated in a bustling area or a secluded setting. Finally, you would want to consider places that will be appealing to prospective employees.
Your desired location will play an important role in your budget.
Find Out How Much Space You Will Use
There’s nothing worse than renting an office space, only to find out that it’s way too small for your needs. Getting an office space that is too expensive and too big is probably a close second. This is why, when going through how to rent office space, to know how much space you actually need.
You will have to find out the size requirements of your company. This may depend on the industry you’re in, and the prospective size of your production process or staff team. You will have to consider how much furniture and equipment you will need, and how to space things out to maximize comfort.
This will factor into the process of settling on a budget, too, so it’s important to sort this out before going any further in your search.
Determine Your Budget
The million-dollar question is, how much are you willing to pay for the office space? You would want to settle on a budget that is reasonable, and that you can actually afford. You wouldn’t want to go halfway through a contract only to realize you can’t repay the owner anymore!
You will want to consider factors such as maintenance, administrative, and utility elements of your overall bill. These will have to be added to the monthly rent for you to accurately predict the cost of a place.
Decide on a certain percentage of your income or wealth that you would be spending on an office space, and make sure it isn’t too high. You would want to reduce as many risks as possible, so setting a realistic budget is key in achieving this.
Do Your Research
Another great tip for how to choose an office space is to weigh your options. You can do this best by researching ‘office space for rent’ on your browser, and clicking on the different links. Choosing the right office space is important, so you wouldn’t want to just settle on the first thing you see!
You can, for instance, check out the different available spaces on https://www.austinofficespace.com when looking for the perfect spot.
Going through the different options will allow you to compare prices as well as the quality of available spaces. This will help you choose the most optimal location that will fit your budget accordingly.
Tour the Office Spaces
Sometimes, images lie. When you’ve settled on a few good choices, it’s a great idea to go on tours of the actual office spaces. This will help you get a good idea of the shape, structure, and size of the location.
Think of the Future
As a business owner, you will surely be aiming for growth in the future. This is something to factor into your decision of a great office space. You want it to be cozy and suitable, but you would also want to leave enough room to grow.
This can mean renting a bigger space and subleasing the excess room for a while.
Negotiate Your Lease
Even if an office space is within your budget, you can still minimize costs by negotiating your lease. This is another reason why it’s a good idea to do research – you will get to bargain by perhaps showing them that there are cheaper office spaces nearby!
You can also negotiate for your lease terms. Some landlords will require a lease agreement that involves a minimum number of years. If you don’t want to stay there for as long as the lease agreement requires, this is something to bring up with the owner during negotiations.
It is important to then discuss rent escalation procedures. They will describe this in the lease agreement, and it’s something you want to be aware of to properly plan your finances. If the escalations seem too high, you would want to mention this as well.
How to Rent Office Space to Suit Your Needs
Wondering how to rent office space that will fulfill all your entrepreneurial dreams? It’s definitely something you can achieve with this handy guide!
There are some steps that you can apply in your own search for the perfect office space. You would want to narrow down on a location and office space size, and then factor in these details into your budget.
Make sure to compare different listings and think of the future!
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