Whether you are a long standing company or a burgeoning startup you need a place to house your business. Office space can be one of the greatest decisions or greatest mistakes a company makes.
You need to know what’s crucial to renting office space. Help your business thrive with the right environment.
Renting Office Space
Because renting office space is such a crucial part of your business plans there are a lot of things that go into it.
- Find a Good Real Estate Broker - Finding a real estate broker you can trust and rely on is very important. They are likely going to be much better than you at finding the correct type of office space you need. They have the leads, run with them.
- Figure Out Your Space Needs - Running office space is all about it being the right size for you. A lot of companies tend to be over-optimistic about size needs. Then they are paying a huge chunk of their income for office space they don’t need. If you are an established business and know exactly the space you need, you should get that, and leave a very small amount extra in case it ends up being needed. If you are a startup and are growing you should plan for that growth but be realistic. Less is more with startups. You can work out terms that will allow you to move to a larger one earlier if necessary.
- Is the Space Suitable to You? - If it’s not perfectly fit to your company and you’re going to need to do some improvement you may want to check with your landlord. Tenant Improvement (TI) costs will more likely be shared by the owner if it’s a longer term lease.
- Have a good Lawyer - Your lease will mean everything to you during your time there. Having a good real estate lawyer will allow you to steer clear of any issues with it.
Temporary Office Rental
Sometimes you may need a temporary office. This could be because you’re launching a product in an unfamiliar city and you want to see how it does locally before you begin. This could be because you’re testing a startup. You could also be caught in moving between offices for some unforeseen reason. Temporary office space is available. It is often shared office space as well. Shared spaces tend to be either great experiences or nightmares.
When you are looking for temporary office space, the biggest factors are condition, price and location. You still want an office space that is clean and in good repair so that you are not sacrificing anything. This is especially true if you will be seeing any clients in the temporary office space. Shabby office space is going to reflect negatively upon your company. Your client isn’t going to care about the “temporary” nature of the office. Just that their visit showed cracked walls and a cockroach or two. Price is always important and essentially goes without saying.
There are many secondary features you should look for in temporary offices. Are mail services provided at the location? Will you have to pay for parking or is it included? Can you host meetings or clients in a shared location? The goal has to be finding a temporary space with more positives than negatives.