Have you recently started a business and are now looking for a suitable office to house its growing operations? Because you want to maintain or increase your productivity, hire additional staff, and get more clients, you will need to think long and hard about this choice. Even if you are a seasoned professional who has just started a business, you will still face the same challenges: finding the right office space.
That’s why it’s essential to consider a few factors before choosing a location and signing a lease. Whether you’re looking for an office for lease in a commercial building or a coworking space, these 6 factors will help you make a wise choice.
When looking for a new office space for lease, consider these six factors.
1. The location of the office space for rent:
You need to think carefully about the location of the office space for lease before making your decision. Since you will need to visit several times a week, it is important that it is not too far from your home or other usual destinations. If clients will be visiting the office, it should be in a convenient location, close to major highways.
2. Regular Fees or Charges:
Before you sign the lease for a new office, make sure you know what costs are covered. Find out if there are any hidden fees and when they are supposed to be paid. Snow removal and janitorial services are two examples of common expenses that are typically shared among tenants in commercial and multi-family buildings. Sharing the bill reduces the overall cost. You can save a lot of money by doing this!
3. The term of the lease for the office to be leased:
Keep in mind that the lease term of any office space you are considering leasing should be tailored to both your business needs and your own. Anticipate your needs and consider a lease term of one, three, five or even ten years to find the best solution.
4. Neighboring businesses
If you’re looking for office space for lease, you may notice that some office buildings seem to attract tenants working in similar fields. Some commercial real estate listings, for example, cater specifically to the financial services sector, while others stand out as being in prime locations for technology companies or healthcare providers.
If you’ve ever wondered why a medical clinic or hospital is located so close to a pharmacy, the answer is simple: it’s not a coincidence. There is evidence to suggest that proximity to other businesses is beneficial. If your customer base overlaps with a neighbor’s, you may be able to leverage their reputation for success or forge a mutually beneficial business alliance.
5. Private or public workspace:
The importance placed on this criterion varies from person to person. Many people thrive in an open office environment, while others need their own private space. Open offices are becoming increasingly popular as a cost-effective option for professionals starting their own businesses. However, a closed office is the best choice if you need to focus or make frequent phone calls.
6. Insulate the walls:
Some businesses and many professionals, including notaries, doctors and lawyers, have a strict need for secrecy. There should be no risk of strangers or co-workers hearing them while they are in storage. Don’t forget to ask about the quality of office wall insulation if your professional activity requires such measures. It’s a good idea to have a conversation with the building owners about noise levels before signing a lease for the office space. If the walls are well insulated, your privacy will be assured and you won’t have to listen to the chatter from the hallway.
Renting an office is a major accomplishment for any business. However, do your research before signing a lease for a new workplace. Your first priority should be to ensure that it meets your most important criteria while respecting your financial constraints. And don’t hesitate to contact the landlord to ask any questions you may have.