Tips for Office Space Rental for Small Businesses
With a wide choice of space for rent, finding the perfect office for rent is perhaps easier for small businesses today than it was in the past. There are many initiatives that exist today, helping to facilitate business growth and operations, that weren’t so common in the past, and people have a lot more flexibility when it comes to managing a business.
Small office space for rent is available in a number of places, not just in a conventional office setting.
When looking for office space rental, here are some helpful tips:
A smaller sized office is, naturally, often significantly cheaper than bigger office premises. It is also less space to light, heat, keep cool, clean, and maintain. Whilst your office needs to be big enough to accommodate your present needs, and possibly allow some space for future expansions (especially if you have longer term office leasing, don’t go overboard. Try and choose the smallest possible office rental space.
Don’t be afraid to try and negotiate a better deal on rented office space. Landlords are often fairly keen to rent their office space, and so may be open to offers. Don’t accept the monthly rental fees without first at least attempting some discussions. Consider other aspects that may be open to negotiation too, such as inclusive rubbish removal, parking facilities, maintenance works, building security, and so on.
The length of the lease is another aspect that can often be negotiated. Avoid being locked into a long-term lease (unless that is what you want), but make sure that your tenure is secure. Newer companies are generally advised to aim for as short a lease period as possible, with the option to renew. Well-established companies, on the other hand, might benefit from locking into favourable terms now.
Know the Market
An awareness and understanding of the current business rental property market is essential when sourcing office space rental. Without this knowledge, a company cannot possibly know if they are getting a good deal or not. Compare prices for different commercial properties to rent, and try and look at any current rental trends.
Options other than Conventional Offices
If finding a suitable property is difficult, office space rental can be achieved in other ways than a traditional landlord / tenant lease arrangement.
A managed office, serviced office, or shared office space could be perfect for a small business. Spaces can generally be as small or as large as you require, and lease periods are often shorter with more flexibility. You might need to furnish / equip a shared office or a managed office, but a service office for rent will be already set up for use.
Renting office space does not need to be difficult; just think outside of the box and make sure that you are well informed.