Is your current office space limiting your employees’ ability to create and innovate together as a team? Though renting an office space seems like a big step, it can give your business a professional image. It is also cheaper than leasing a permanent office if you are operating on a tight budget.
The diverse options of office spaces for rent in the market may make it daunting to find one. Not all of these rental spaces will give your company the convenience it needs to be profitable. Furthermore, their leasing terms and conditions may be too restrictive for your type of business.
With expert guidance, you can narrow down your options for office rental spaces to find an ideal one. In this guide, we’ll cover factors and tips on how to choose an office space to rent:
1. Location and Convenience
Think about your suppliers, clients, and employees when choosing an office space based on its location. Ensure that the space is accessible from the main roads to reduce commuting costs. It should also be visible to potential customers to help build your brand image.
The best office space to rent should lie an area with a large number of potential customers. This ensures that customers can reach your representatives physically when the need arises.
The rental office should be miles apart from your competitors if you’re running a small business. You may choose a space that’s close to your competitors if you already have a competitive edge over them.
Determine whether you can afford the deposit and rent of the office space. You should also ask the landlord about the hidden costs (parking and maintenance) to budget well.
Check whether the rental costs are in line with similar spaces in that area for great value on money. Weigh the basic amenities provided by the landlord against the rental prices to see whether they match.
The average costs per foot for an office space ranges from $8 to $23, depending on the location and amenities. Spend five to ten percent of your total sales per foot of office rental space to avoid overstretching your budget. You should also compare prices from different landlords before settling on one that you can afford.
3. Size of the Office Space to Rent
Evaluate the office space size depending on the number of employees in your company. You should consider spaces for leisure, meetings, and storage. If you intend to offer catering services to your workers, you’ll need space for a mess room or canteen.
The best office space should give approximately 21 square meters of space to every employee. You should also consider your future business expansion goals to ensure that the office accommodates them. A cramped office can reduce productivity and motivation, which are crucial in boosting sales.
A standard cubicle should be eight by six feet, while a small office should be twelve by ten feet. These measurements may vary with your company’s size and employee count.
Settle for an office space for rent with a design that reflects and complements your brand. It should have friendly working spaces to build team spirit and allow your workers to bond. The windows should be covered to keep disturbances or outside noises from entering the premises.
The office layout will depend on your departments’ functions and overall business goals. You may include natural features (like plants) in the working spaces to improve your employees’ well-being.
Ask the landlord or owner whether they allow modifications such as painting to be done on the property. If the landlord allows them, you may hire an interior designer to customize the rental office space to suit your brand.
Choose a rental office space depending on the quality and reliability of its business infrastructure. The infrastructure may include energy and power management, IT services, computing, and network services. Your company needs these services for it to be efficient in service delivery.
Check the type of broadband connection that powers offices in the building you want to rent. Only consider areas served by different broadband and phone providers for easy communication. The office should also have Internet and phones already installed for the same purpose.
6. Transport and Parking
Rent office space in an area with good public transport and road networks for convenience. Your potential customers should be able to reach your company using any means of transportation. They may leave harsh reviews about your business if it’s inaccessible or has poor delivery systems.
The building should have safe and convenient parking for you, your couriers, clients, and employees. It should also have a well-designed parking lot to boost your office’s curb appeal. The parking service should be affordable to prevent you from incurring a lot of operational costs.
7. Local Amenities
Scan the area for amenities like office supply stores, banks, and post offices for your business needs. Amenities such as cafes, bars, gyms, and supermarkets should be readily available to entertain employees and clients. The office should also be located close to a wellness center for your employees’ spiritual needs.
Choose a rental office space like Austin Office Space with close proximity to parks and green spaces for recreation. Sports centers and playing grounds should also be near the office for your workers’ fitness needs.
Sign the lease to the office space after evaluating your company’s space needs to avoid getting less space. Check the limit of modifications and improvements you can add to the office space on the lease agreement.
You should decide whether you’d like to rent the office space on a short or long-term basis. Most lease agreements give a limit of one to three years, depending on the landlord. You may bring a lawyer on board if you have difficulties understanding the lease terms and conditions.
Need More Insightful Business-Related Information?
An office space to rent can help you cut your operational costs if you choose one the right way. As a business owner, you get to retain more working capital and focus on growing your brand. You’ll also end up with an empowered workforce and improved sales revenue.
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