What To Consider When Renting Office Space

Renting a new office space can help you expand your business, improve your efficiency and increase your employee's satisfaction with their work environment. But it's important to plan ahead when looking for a new office, and you should consider the following points.

Think about Space Requirements

Determine what your current space requirements are, as well as what you might need in the years ahead. Usually, it's a good idea to allow 125-225 square feet of space for each employee.

Discuss Needed Improvements

When going over any potential office with a real estate agent, you should discuss any needed improvements. While this may require a bit of negotiation, if vacancies are high in the building the owner may be fairly flexible.

Check out the Parking

Make sure you have enough parking. You not only need to ensure that you have enough exclusive parking for your employees, you will want to have sufficient parking for any customers or clients who might want to visit your office.

Consider Sharing Office Space

While it's not for everyone, you might consider reducing your costs by sharing an office space with another business. This might entail sharing a reception area, meeting room, restrooms and some office equipment.

Also Consider Incubators

If you are just starting out and have a relatively small business, look into the possibility of renting an office space in what are called "incubators." These are areas where business entrepreneurs can rent small, very low cost offices in a larger complex.

All-Inclusive Office Suites

At the other end of the scale, there are all-inclusive suites of offices available in many areas. While the rent for these will certainly be higher, these offices usually come equipped with furniture, office equipment and conference rooms. Some even provide you with a receptionist. This is a good option for an established company that doesn't want to waste time when setting up a new office.

Evaluate the Lease

Carefully evaluate the lease before you sign it. In addition to the length of the lease and your monthly rental payment, you also need to be clear about what things the landlord will be responsible for and what you have to do yourself. For instance, will the landlord maintain the building and the grounds? Is there any provision for you getting out of the lease early if you're unsatisfied or your business circumstances change? Have your lawyer review the fine print of the lease as well.

If you keep this information in mind as you begin contacting business centers like The Professional Centre, you'll be able to find the perfect office space for your needs.