Questions to Ask Yourself Before Renting an Office
Renting an office building is a tiresome process, often taking months. When you find a promising location, you need to make sure it has all of the features you need and want. A wrong decision can have major repercussions for your business. Some features, such as the wrong location, can cause you to lose employees or future clients.
Since most landlords want you to sign a lease for three to five years, a business owner needs to ask themselves a few questions before signing the contract.
- Is The Price of Rent Appropriate?
The price of rent has to fit into your budget plan. You don’t want to be building broke; there are hundreds of other expenses you need to cover besides your office space, you can use offices like loghouse. Look at your budget and make sure you overestimate expenses and underestimate your revenue.
- Will Utilities Cost Too Much?
Depending on the size of the space, utilities could cause your expenses to skyrocket. It is important to clarify in your lease what services, if any, the landlord will cover with your rent. Some landlords will cover a set amount of electricity before requiring renters to pay. For companies that run a lot of equipment, paying could happen quickly.
There are of utilities and expenses to consider. All businesses need a phone and internet services. Some buildings will provide a cleaning service based on a service; any extra days will need to be covered by the renter. Make sure to ask the landlord about services, including water, sewer, and garbage services in order any confusion and everything to set up correctly as desired.
- Can Your Company Grow?
While office space for rent may be perfect for now, you have to make sure there is room to grow. With aggressive growth in your future, you have to factor in the change of space requirements into your considerations. If you truly love the office space, ask if you could have a shorter lease term.
- Are There Services Nearby for Employees?
Location is one of the crucial factors in your decision. The perfect location would have services nearby for your employees. If all of your employees live far away, the location may be inconvenient for your employees. Ideally, there would be a few restaurants nearby for lunch. A daycare nearby is an awesome service for parents of young children.
- Is The Location Good for Clients?
Location and proximity to your clients is important. What type of clients are you targeting? You want your location to be in an area with close transportation. An urban location, with restaurants and stores nearby, will provide a reason for your clients to be in the area. Parking needs to be readily available and easy for your clients and employees.
Parking is a major concern for business owners. When you arrive at the location, look at the amount of spaces available around the building. Not only do you need enough for your customers, you need enough for all of your employees. Also, there needs to be an area for trucks and supply delivery trucks to arrive and unload.
- Is It ADA Compliant?
The landlord has to ensure the building is up to code with the Americans with Disabilities Act. It is important for your building, even if it is low price offices, to be accessible for everyone. For example, the law states that doors have to require five pounds of force or less to open.
- Can You Make Improvements?
Most office spaces are plain and boring. However, you want your office space to reflect your personality and business. Ask the landlord what improvements and modifications the tenants are allowed to make. Most businesses will want to paint the walls, add lighting, and hang pictures and paintings on the wall.
Some landlords will cover a certain amount of modifications; they provide an allowance based on the square footage. Using a property management company can help you customize your space. There are so many ways to make an office building more colorful and attractive.
