22 Lessons Learned: Services

Shaun H. Ruff

Small Business Office Rental Tips 2017

Renting your first office space can be overwhelming and exciting for you and your business. It is essential to choose the right office that will support your business and your team, allowing your business to grow, expand and succeed. Don’t be confused and just rent any office without studying its impact to your business. There are things you need to consider in choosing the right office space for you.

The first thing you need to decide is whether you really need to rent a space, because you have an option to work from home or even try co-working spaces. The location is your top consideration when it is absolutely necessary to have a dedicated office space for your business. Your first office space should be close enough for the members of your team to commute. If you do not have any team or staff yet, select an office close enough to an area with high populations of potential talent. Ensure that the place is accessible to other people. Put yourself in the shoes of your prospective customers, because your customer needs are important in considering the right office space location for your business. Is your office building accessible to public transportation or freeways? One great factor that affects your decision of the location of your first office space are the nearby amenities. If your office space is close to meeting places, restaurants, banks, shopping sites and coffee shops, your customers and team members will surely appreciate it. Cost is likely your next major concern after you have chosen your office location, so it is crucial to have a strict budget in place. As you probably know, office space rentals may actually eat up your budget, so choose a flexible payment option, and don’t choose an office that’s going to place your business into huge debt, stunting its growth and development.

You also need to take into consideration accounting extra expenses associated with renting an office space for your small business to prevent piling up of fees and charges. Make sure that you completely understand what are the things included in the quoted rent. Did your landlord include the utility bill payments inclusive to your rent? Are repairs and maintenance cost inclusive in your rent? It is very important that the all the financial aspects and financial obligations are clearly indicated on your lease agreement. All provisions of the lease agreement must be laid down properly and clearly. Find out if the office building offers good security to ensure that your staff, equipment and products are safe. Choose a space where your staff can work properly and comfortably, but not too large that cannot be used later on. It is also important to decide the layout for your small business, making sure there is also a room to grow such extra one or two cubicles in case of future expansion.

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