There are many things to consider when looking for your next new office space. The first thing you should do is create a checklist. But even that can be a challenging task. You should try to have a good understanding of what you require at your new office and your budget. This will keep you one step ahead when choosing your new office.
Most commercial leases will range anywhere from five to ten years long. So this means it’s crucial for the tenant and business to consider the following factors when leasing office space:
Time
Among one of the top criteria for choosing an office space is time. We recommend that you start to think about the options to either relocate, renew your lease or consolidate 18 to 24 months before your lease is set to expire if you are looking for a space larger than 1000 square metres. Or about nine to 12 months for anything less than 1,000 square metres.
Get Help from a Reputable Agent
Hiring the help of a rental agent will make your task of looking for rental space with all of your criteria a success. Your agent can also help you understand your lease terms and find a space with the option to renew, which can save you on relocation costs.
Look Over Your Business Goals
Do you know what your growth projections are for your business during your lease? Do you have your business goals planned out? Are you looking to scale up or cut back? The answers to these questions will help you when you are looking for office space.
Choose How Much Space You Need vs What You Want
The space needed for each employee will ultimately depend on the nature of your business and the way your business conducts its operations. As an example, will your office need private rooms? Or will it be more of a collaborative effort between employees? Do you need a desk per person, or flexibility when working?
Budget
Think past your lease and the rent. You should also consider the relocation costs, fitting expenses, the internet costs. It’s important to list out and think about the costs involved when considering an office space.
Preparation
When searching for office space, it’s important that tenants have their bank guarantees and documentation prepared so that they can move quickly and efficiently to secure space if you find one that fits your criteria.
Choose the Right Location
You might want to consider the location from your employee’s perspective. Do a majority of your workforce take transit? If so, you should look for a space near public transit. Or, if they drive, then you need somewhere that has lots of parking. As well, look around at the facilities nearby. Are there places to eat? Other companies you want to work with? These are things that can help you and your employees with living their lives.