Leasing new office space is a big deal. This is where you will be carrying out your daily business activities. It is where you and your employees will work hard and grow the business. It would be best to find an easily-accessible place where you can work comfortably. How do you determine the kind of office space to lease? What are some mistakes to avoid? Here is a look at everything you need to know.
The Ideal Office Space
The ideal office space will differ from one business to the other. You need to consider how big your business is as you make your choice. This will determine how much room you need. Also, think about the layout you want. Is it just you, or will your employees be sharing the space? Once you know what you want, you can start looking at office space options.
The location of your office is very important. Choose a conveniently located place, easy for clients and employees to get to.
There are many other factors to consider when choosing office space. Bear everything in mind to avoid choosing the wrong place. Remember relocating business offices later can significantly affect business. So, it is best to get it right from the very start.
The amenities a premise has to offer are also very important because if they are not part of the rent, you will have to pay extra for them. Some essentials for all offices to consider are:
- Internet connection
- Furnishing
- Mailing address
- Cleaning services
- Meeting rooms
- Parking
Leasing Mistakes to Avoid
After finding the right place, you need to sign the lease or usage agreement. When doing this, be mindful to ensure the best deal without issues. The following are some mistakes business owners tend to make and how to avoid them.
Rushing
Finding office space should not be rushed. Though you may want to get this over and done with as soon as possible, rushing is not good. Take your time to look at available options and choose what works for you. Never feel pressured to pick the first option you get. Doing this could make you lose a better office that you would have come across a while later.
How much time can you expect to wait? Finding small office spaces may take up to six months, while larger spaces may not be available for up to 24 months. Consider getting office space at Creative Executive Space to shorten your wait time.
Not Considering Future Growth
Some business owners lease office space that is only enough to fit their current operations. They forget about their future expansions, and when this time comes, they have to grapple with consequences like having to move. Do not be one of them. Think of future growth from the onset.
Find office space that allows you to add extra employees and increase business operations in the future. However, avoid leasing too much space as some may remain unused for a long time.
Making Cost the Main Consideration
The cost is a significant consideration, but it should not be your primary concern when leasing office space. Think of other things like your business’s specific needs. If you need a place with high foot traffic, renting an expensive place on a busy street will give you a high ROI compared to a cheap place with minimal foot traffic.
Easy access, employee satisfaction, and the available infrastructure are other considerations to prioritize.
Not Viewing the Space before Paying
The gallery on that ‘offices to let’ website may look appealing, but you must know that anything can be staged. Take precautions and look at the office space physically before paying for it. While there, you can get a feel of what it will be like working there. You can also confirm that all the claims made about the property are accurate.
Signing the Lease without Reading Every Part
Your lease stipulates everything from how much you will be paying to how much change you can make to a place. Read through everything on that document without signing. It is a legal document, and any breach on your side could lead to legal issues. Only sign leases that have terms you agree with.
