Finance February 23, 2015 Last updated September 15th, 2018 896 Reads share

9 Things to Consider Before Renting an Office Space

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So you’re thinking of expanding your small business and looking for a bigger office to move into? Renting an office may seem like a good option, especially if you’re not in a position to buy one yet.

Leasing a commercial place is no mean task, though. There are several considerations that need to be taken into account. After all, it may turn out to be one of the largest costs to your business.

It is, therefore, crucial that you find the right space at the right location that caters to all your business requirements and expectations.

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Modern offices are expected to be practical, state-of-the-art and sustainable. These factors will apply to the office space you choose for your business as well. Of course you’re going to have to look at several places before zeroing in on the ideal one.

Viewing potential workplaces, however, can be a lengthy and a tedious process especially if you aren’t really sure of exactly what you’re looking for.

It makes sense to plan ahead and make a note of the features/amenities and services that you would ideally like your office to have. Doing so should provide you with a clearer picture and ultimately save a lot of your valuable time.

Mentioned ahead are a few factors that you can consider when deciding on an office space for your growing business. 

#1. The Office Should Impress

In the business world, the first impression is often the last impression. It is, therefore, important that you rent a space that helps you make the cut with your clients, especially if you deal with upscale ones.

Make sure your office, its entryway and the surroundings are well-maintained and clean. If it has landscaping at the entrance, it should be adequately attended to. The building and construction should be in keeping with the image you want to portray and should be able to give off a professional vibe to the incoming clients right from the word go.

This will also have an impact on your current and prospective employees. Walking into a neat and clean office is a matter of pride and much more motivating than entering a dingy building.

#2. Parking Please

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Make sure your office space comes with a lot of parking space, preferable for free. If it doesn’t, consider setting aside a certain amount to make arrangements for that. You don’t want to turn your clients away just because they couldn’t find a good place to park their vehicle. Neither do you want them to bother with tickets. However, this point is applicable only if your clients really do prefer to drive to your office.

#3. Location Contemplations

If you can afford it, choose your office in a location that is easily accessible from a majority of key places. In other words, it should be easy to locate and reach. This also means that transport links and connectivity are of the essence.

This will work in the favor of both – your clients as well as employees.

#4. Reputation of the Vicinity

Want to be known as one of the best firms that consistently churns out high-quality results and works only with the most reputed clients in the industry? Well, let this message get reflected through your new office.

Every vicinity gives out a particular vibe and a message. Use yours to project yourself in the best way possible. The image/reputation of the area your office is located in is bound a have a major impact on the way your clients and potential employees perceive you.

It is crucial that you pick an office in a neighborhood that is safe and has a good reputation attached to it.

#5. Ample Amenities

Employees prefer to work in offices which offer them access to various amenities within their own premises or somewhere close by. These amenities include restaurants, cafes, and other meeting places and service providers. This could also work for you and your clients/visitors when you want to conduct meetings outside the office.

Renting an office in an area that offers easy access to places of importance tends to be a more attractive option as employees as well as clients/visitors will surely find these to be useful.

#6. Size Does Matter

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The size of your office matters to a great extent. It should be big enough to comfortably accommodate all your furniture, computer systems and staff. Choose an office space which is in accordance with not only your current infrastructure, but will also be able to accommodate additional items that will come with your expansion plans.

#7. The Lease

Once you’ve decided where you want to set shop, you’re going to have a sign a lease to officially seal the deal. Signing this particular dotted line is one of the biggest commitments as well as liabilities of your business.

When deciding on the terms and conditions and the length of your lease, do be mindful that they are in keeping with your current cash-flows instead of future projections.

#8. Repairs

Make sure your lease mentions who would be responsible for making repairs to the property. If the property owner is not in favor of it, try and negotiate a reimbursement for the necessary repairs. It makes sense to take this point up with the property owner before you sign the lease.

#9. Security of the Neighborhood

You and your employees will spend the major part of your day in the office, so make sure that your locality is a secure one. Your employees and clients should feel safe when travelling to and from it by local transport, and even when commuting on foot.

Conclusion

Finding an office space that meets all your needs takes patience and researching skills. The more research you carry out, the higher will be your chances of finding the ideal place with the terms and conditions that you’re comfortable with. You need not be highly skilled to rent a commercial space, but performing the required due diligence from your end will make you more comfortable with your decision.

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Preethy Martin

Preethy Martin

Preethy Martin is a content strategist at Proptiger.com - online real estate portal which offers best deal on properties in India. When not working, she enjoys spending time with family and catching up with the friends

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