Getting your first office space is a thrilling experience. If you get carried away by the excitement of it all, you may end up with a space below your expectations. However, if you take the time to consider the features you’ll need in an office space, you’re a lot more likely to find the perfect space.
One thing that one could look out for when looking for office space include finding a space that could create brand awareness, increase productivity and is easily accessible to clients and potential clients, among other things. Things to do when looking for office space might vary if one buys space instead of renting.
Here are some tips that could help you make an informed decision when getting your first office space.
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1. Create a Budget
A budget can help you quickly decide what kind of space to get and whether you’ll rent or buy. If you have enough capital to make a down payment on a house, you may want to buy your office space and pay the mortgage monthly rather than rent.
Budgeting also gives you a chance to better handle your spending so that you do not spend outside your means. When either renting or buying a house, there are several hidden costs that people often overlook. Asides from just paying the rent or mortgage, there’ll be other costs such as insurance costs, utilities, cost of parking, security deposits, etc. Ignoring these costs when planning can cause many problems down the road.
While it’s always tempting to get an office space that paints your business in the best possible light, also remember not to choose a place that’ll have you bankrupt. Your rent or mortgage should be reasonably priced as there will be many other business costs to handle monthly.
2. Get a Home Inspection Done
Home inspections are more popular with people who want to buy a property; however, renters could also get a home inspection before renting a place for their business. Failure to get a home inspection done by a certified home inspector has led to unpleasant surprises and financial losses.
Qualified home inspectors have taken home inspection courses to qualify them as experts in the field; such courses include the ATI home inspector training courses, among others.
3. Decide the Kind of Space Needed
Your kind of company, size, geographic location, and industry often influence the type of space for a business. If you’re running a start-up, you may want to rent a small private office or coworking space. Long story short, think of how many people are employed in your company and how many square feet each person may need to do their job.
There are various trends affecting start-ups’ access to office spaces. Also, there are several options to choose from regarding office spaces. These options range from contemporary coworking spaces to more traditional private offices, among other options for entrepreneurs. People who work alone and only need to work a few days a week can choose to pay for an access pass and be granted access to a private office when they need it.
Ideal office spaces should be easily customizable, which means they can be furnished to include private restrooms, kitchens, and private entrances.
4. Look Out for All the Amenities You’ll Need
Once you’ve rented office space, employees, clients, and visitors will rely on you to ensure all the necessary amenities are provided. So, you have to make sure that your new office comes with modern amenities that improve the office experience. Also, the absence of certain modern amenities could make your business look bad. Some of these amenities would have to be provided by the landlord if you’re renting, while you would provide others. Examples of important amenities include On-site management, conference rooms, mail service, workspaces, WIFI, drinking water, coffee, espresso, etc.
5. Get a Lawyer to Review your Lease
Many people have faced unexpected financial ruin just by overlooking important terms in their lease agreement. It could be expensive to get out of a lease once signed, so you’ll need to have a professional carefully consider the terms of the lease. Find out the length of the lease, its start and end dates, and whether there are options for renewal. Options for renewal are very important; you do not want to be moving your business from place to place as this could lead to loss of customers. Also, find out if there are any hidden costs on the lease, such as parking fees, insurance, taxes, and maintenance costs.