What You Need To Consider When Renting Office Space
Choosing an office space for your company is an exciting and promising step in your business journey. Office space symbolizes your brand identity, value, legitimacy, and team collaboration, where meetings can be organized, and ideas can be brainstormed. If you are looking for commercial office space for rent and the factors you need to consider when renting office space, Empower Real Estate has compiled all the details that you want. Sit back and read our blog!
What Do I Need To Know Before Renting An Office Space?
A cozy office space means a lot to your business as it creates an environment to meet, plan, and manage your meetings, get listed on Google with local search results, boost your SEO performance by getting noticed on Google Maps, and enhance team collaboration. However, before you rent office spaces, you need to know the following aspects to ensure the office space meets your business requirements and assists in your development. Here are the essential factors to consider:
1.Location Is Everything
A stunning and elegant ambiance that offers comfort, safety, and easy accessibility is the first requirement you need to think about while renting commercial office space. Employees and clients must easily approach the location you choose for your office space. Well-laid roads, quickly available public transportation and cab services, seamless electricity and water supply, private parking space, banks, restaurants, and safety precautions should be given thought while you rent office spaces.
2.Making First Impressions
Add a classic touch to the appearance of your office space. Let the interior and exterior of the building and the space around it create a sense of elegance and peace for your business. As first impressions leave a lasting impact, let your commercial office space make a mark on the visitors’ minds. As your office’s look and appearance can influence the way your clients and employees feel about your business, having a spacious, creative, and promising office space is mandatory.
3.Assess Office Space and Facilities
Considering your office space’s size is vital. Look for an office that can accommodate your current and future needs. Calculate the number of employees you have and what you may need in the future:
- Space for Storing Equipment
- Conference Hall
- Library
- Cafeteria
- Break Room
- Comfort Station
- Gym
- Private Parking Space (two-wheeler and four-wheeler)
Ensure your office space and setup resonates with the work style and goals of your business so that people can feel at ease and perform their tasks without hindrances.
4.Cost and Budget
Let the office space that you are searching for be within your cost and budget that support your growth in the long-term. Never should your budget on the office space put your business in debt. Remember to include the rental and hidden costs, such as amenities, furniture, office equipment, mail service, maintenance and service charges, taxes, and insurance.
5.Infrastructure and Amenities
Let every brick and wall of your office space, inside out and outside in, reverberate your business ideas and vibes with exquisite infrastructure. Your commercial office for rent or office space for lease should express the identity you want to establish with your customers and employees. A well-built infrastructure coupled with all the amenities needed can fulfill the complete needs of the work atmosphere in the first place. Things you should consider for your office space are:
- Electricity
- Water Supply
- On-Site Management
- Mail Service
- Fiber Internet
- Furniture
- Electrical and Electronic Gadgets
- Printer and Scanner
Pro Tip
Check with your landlord if you can renovate and customize the office space to match your business requirements. Some will not approve of letting you paint, design, or knock down the walls. Hence, get it clarified when you are confirming the office space for lease or rental.
6.Productivity-Boosting Layout
Design your indoor and outdoor office space atmosphere that breathes and feels like Eden. Yes, you heard it right! Your commercial office space should not be yet another place that is filled with just laptops, computers, and bare walls. It should smell of freshness, feel optimistic, and sense enthusiasm from the moment you enter and walk into your cabin till you leave the office. Let your office be filled with paintings, sticky notes, inspirational quotes, awards and accolades of your business, achievements of your employees, a selfie corner, or a creative wall of fame. Productivity and efficiency are the outcomes of an innovative and lively office space. Let your imagination take wings and fly high so that your employees have the urge to work at ease and perform better.
7.Do Not Forget Hidden Costs
If you are taking your office space on lease, kindly read and know what is included and mentioned in the lease. Do not forget the hidden costs. Include the additional fees and costs in your budget. This comprises:
- Construction/ Renovation Cost
- Utility Bills
- Maintenance and Repair Costs
- Insurance
- VAT On Rent
- Insurance
8.Suitable Lease Terms
While you are taking office space for lease, you will have your business goals and objectives planned and growth potential calculated. So, before you sign your lease, take time to carefully read the terms of your lease. Check if your lease term has flexibility and can be changed based on your needs. Things to consider in your lease terms are:
- Lease Duration
- Lease Renewal
- Lease Terms and Flexibility
- Exit Clauses
- Security Deposit
Why Choose Empower Real Estate?
An office space is not just a piece of land with a building laid with bricks and cement. It is the place where your business goals and dreams are going to take shape and develop. Office space is the haven that will speak your thoughts and encourage you to succeed in your business journey. There are numerous factors to consider when you rent office space. We have discussed a few here. Do not panic about what more can come your way. Empower Real Estate is here to guide you. We are transparent and better understand your needs with a one-on-one session—experience reliability and flexibility in our services by contacting us. We make the entire process a cakewalk for you!
Takeaway
Just like home, office space is the dream place for your business. When you consider the location, parking space, amenities, infrastructure, and other key factors discussed here, underline the aspects of safety and security of the premises. Your office space must have all security measures and first aid/ emergency precautions to avoid a crisis. Keep your team protected under the umbrella of keycard access, security cameras, and other safety procedures such as fire exit in times of emergency. Confirm if the office space concedes with local laws, health and safety laws, and building regulations. Check for your neighborhood accountability, too, as a safety step.
FAQ
What Are the Key Factors to Consider When Choosing Office Space for Rent?
The Key Factors to Consider When Choosing Office Space for Rent Are:
- Location
- Cost and Budget
- Office Size
- Infrastructure and Amenities
- Lease Terms
- Safety and Security Measures
Are Amenities and Infrastructure Important in Office Space?
Yes, amenities and infrastructure are essential in office space as they improve team collaboration, productivity, and efficiency and influence work-life balance.
How Important Is the Location of The Office Space?
The location of your office space is essential as it attracts more customers and employees, creates reliability, makes it easily accessible through all modes of transportation, speaks of work culture, and includes cost, legal, and lease considerations.
