The right office space can make a huge difference to your business operations. Regardless of the nature and size of his business, each business owner wants to lease commercial office space. You have several options to choose and lease office space to suit your needs and budget. But the right commercial office space can complement the needs of both small and large businesses.
The small owners can simply lease the right commercial space, and easily avoid the needs for manufacturing areas, warehouses and similar specialized areas. Also, the leasing option enables you to use the office space for a longer period of time. However, you must concentrate on a number of important points before writing the lease agreement.
- Decide the Location: Every owner wants to lease a commercial office space located at the heart of the town. But the high rent charged by the building owners may have a huge impact on your business. If you are already running a business, it is advisable to choose a location that is relatively close to the existing operations. The nearby location will make it easier for you to move your assets, equipments and resources. Otherwise, you can choose a faraway location to pay lower rent.
- Determine the Required Office Space: The required amount of office space varies from one business to another. Before browsing through the available commercial office spaces, you must decide the amount of office space needed for your business. You can use several online tools to determine how much office space you need. However, many experts recommend business owners to calculate the square footage of office space at 250 square feet as an average per employee. You can multiply the average square feet into the number of employees to decide the amount of office space required to completely fit your business in.
- Make Your Budget: The rent charged by a homeowner is impacted by several factors. So you also need to decide the amount of money you can spend towards the monthly office space lease. Once you make your budget, it will be easier to calculate the additional expensed associated with the new lease. However, you have to check the terms of the lease, and check if the amount also includes recurring expenses like water, sewer, trash and utilities.
- Decide the Leasing Period: It is also important for a business owner to figure out when he can start using the office space. If you are relocating your business, you must ensure that the building is available before you current lease expires. The time will help you in organizing the new office space, and carry out the business activities without any interruption and inconvenience.
- Gather Information about the Available Commercial Office Space: The advancement in information technology has made it easier for people to search for the commercial office spaces. In addition to reading the commercial office space for lease related ads posted in the magazines and local newspapers, you can also use the web to find the office spaces available for lease in your area. At the same time, you can also contact a commercial real estate agent to help you in finding office spaces for you based on certain criterions.
- Visit and Evaluate Each Property: Based on the information gathered from various sources, you must tour each property in person. While visiting the building, you must evaluate it thoroughly to check if it can fit your entire business. It is also important to take notes, and pay attention to specific aspects like the location, design, size, and monthly rent. Also, you need to evaluate the terms of new lease. You can even ask some additional questions to the owner that will help you in taking the best decision.