Key Things to Consider when Renting Out Office Space
An office space isn’t just somewhere to work. It can be the first impression of your company image and is vital for your staff morale. This article explores the key things to consider when renting out office space, to make your decision a little easier.
Location
Location. Location. There’s a reason this is stressed so much throughout the property market, and it’s no different with office space. Firstly look at the neighbourhood; does it give the right impression? Is the building secure? Even in a great area, you will still need security measures. Next, look at what is around you and who your neighbours are. You might not want to be too close to competitors but you should assess the amenities in the area such as public transport, cafes, and a place for after-work drinks. And though you won’t be able to please everyone, you may want to consider how far your key employees will have to travel to reach the office.
Space
There are regulations you have to abide by in regards to office space but you should also consider how you and your employees work. Perhaps a standard desk size isn’t big enough, or private meeting rooms are essential. Look at the size of all the rooms you will be given, such as the kitchen and social areas.
Price
Check prices of other offices in the area to make sure you’re getting a good deal. Then know exactly what you’ll be paying, when and what is included. Ask about parking, if the utility costs are covered, and what your internet and phone access will be. Be aware of any potential hidden costs and whether your landlord can increase the price after a certain time.
Does the lease match your business?
Most landlords prefer a longer lease, so make sure the space fits the needs of your business. You don’t want to be tied down to something if you’re likely to outgrow it in a few months. If you can’t afford to pay for the extra growth room, try to negotiate a shorter lease on a smaller place. Also, consider whether it is likely you will sell your business in the contracted time.
Parking and post
Your clients and employees will thank you if they’re able to park easily and for free. It’s also important to know whether the building has its own postal address and if it’s accessible for disabled users.
Appearance
Your office needs to give the right impression on the inside and outside. The landlord should deal with general maintenance issues, but ask what condition the building will be given to you in and if you’re able to decorate. If you’re allowed to personalise the office, keep your clients in mind. Anything too lavish may give the impression you’re being paid too much. Also, ask the advice of your employees as their workplace environment is vital for their productivity.
When choosing an office space, you need to have your business, employees and clients in mind, and it can hard to find a fit for all three. At Share My Office, we can help you find the right space for you!
