Office space rentals come in all shapes and sizes, and you can find yourself working out of some really nice places sitting in skyscrapers that make up many American cities, or alternatively, further away from the downtown centre you can find yourself working out of some of the trendier neighbourhoods. Because there are so many different spaces you can possibly rent in the city, searching for one that meets the needs of your business can often be difficult. Furthermore, finding a place that meets the needs of your business is not enough when location and price can interfere with the perfect place.
Price and location are very important factors that, and in some cases, limiting ones in deciding where to rent space. Prospective businesses are faced with an amalgam of considerations when choosing to lease office space, so savvy shoppers should prioritise which considerations are more important when leasing space. However, some of the basic considerations should always be related to the future and present state of your business.
Let’s take a closer look at what you should keep in mind when searching for office space.
Contents
An Appropriate Lease Terms
When looking for office space, you want to take a look at the various leases you might encounter. Typically, you will find the standard commercial lease that will require you commit to a protracted lease anywhere from one to seven years. The longer the lease the more flexible the terms with some landlords reducing the rent. Then, there are leases that can be procured through the serviced office industry, and these tend to be a bit more flexible in that the lease lengths are not as long. Moreover, the spaces are furnished and the offices sit in prime locations, mainly in the urban centres.
When looking for a lease, perform an inventory of your business’s finances and possibilities for growth. Because of this, pay attention to whether the space has enough room to comfortably allow your business to grow. Look for leases that will allow you to sublet the place just in case you do have to move for any reason.
Then, pay attention to the details of any lease that makes it appear to have added fees, ridiculously high penalties, and other terms that would make staying in the lease difficult, especially if you are having financial problems. If there issues with the lease, find out if the terms can be negotiated. When looking at the office lease itself, these are considerations you should make.
Leases With Low Start-Up Costs
Depending on the state of your business, look for leases that will allow you to move into the space without having to pay a fortune. Many leases ask you to pay first and last month rent for a deposit, and then, of course, you have to pay rent. If your office is in a prime location, then you might find that your initial costs are very expensive. For small businesses, a lease that does not ask you to place so much down as a deposit can be more attractive to business with small budgets.
Leases That Are All Inclusive
For small businesses, leases that provide them with utilities, cable, phone, and other amenities might charge more, but the rate is a set one, which it makes it better for budgeting. Alternatively, if your lease is not all-inclusive, you might find the rent every month is a little cheaper, but the amenities will fluctuate every month depending on use. All-inclusive leases can alleviate having to worry about paying several bills at the end of the month.
Office Space Must-Haves
Again, your office space needs will depend on the state of the business. When trying to decide what is more important, there are so many factors to take into consideration. Finding leases that are flexible and short enough to allow businesses to be managed can make your office leasing experience less stressful.
