How to Choose the Right Office Space to Rent
Before you think about moving your business to another rented premises, or if you are thinking about moving a business that you started at home, which has now grown to the point that you need to rent office space, it is important to think about your business needs. You need to prioritise your needs and be clear about what you are looking for before you even begin the search for the right office to rent. Being clear and setting objectives will make the hunt easier and also shorter as there will be plenty of offices to rent – you just need to make sure that you get the right one.
If you have a list of necessary facilities and requirements, it will be easier to strike of those on the list that do not meet your requirements. You will more than likely have to compromise on some of your ‘wish list’ requirements, but as long as you are not compromising on aspects that are essential to the successful operation of you business then finding an office to rent will be easier.
What to consider when renting an office:
What is your budget? It is important to look at this first as it will give you an idea of what you can afford. You need to remember about business rates, legal fees and any service charges that come with the office. You will also need a budget for any alterations and improvements that you need to make to the space in order to make it the right office for your business.
Look at the needs of your business – do you need to be more central to attract people walking past or do you need to be near a motorway for access?
Size of your business - how many people do you have working for you? How many visitors will you have on a daily/weekly basis? You need to think about your employees, customers and any suppliers. You need to calculate the minimum space required so that you don’t make the mistake of renting an office that is too small.
Any special requirements you have. For example IT requirements – again, you must think about this and put them down in a list of essential and non-essential. The likely hood of you finding an office to rent with all your IT requirements catered for is slim – you may have to invest in upgrading what is already there or putting your own systems in.
Access for customers, employees and any disabled people who may be using your office.
Facilities such as toilets, canteen and kitchen areas and places for people to relax in.
It is important to look at your business plan and forecast. It would be a mistake to rent somewhere that is going to be suitable for your business for 6 months – you need to look to the future and rent somewhere that will be right if you expecting your company to grow significantly. You could look and see if there are other areas of the building that you could extend in to if this was the case.
The advantages of renting an office are that the up front costs are much less than buying. You don’t need to have a huge deposit or take the commitment that buying involves. You are protected from the decreasing property market, something that in the current market is a major consideration. Renting is also a fixed cost which is easier to put in to your budget which again, in today’s economy is a good thing. The landlord of often responsible for the upkeep of the exterior of the building and any shared areas, with the tenant being responsible for the upkeep of their own office – though this is something that you must get checked out by a solicitor before you sign the lease.
Once you have found somewhere that meets your requirements you then need to make sure that you and your employees would feel comfortable there. The office has to be a place where people will be able to work in a productive way. It Is amazing the positive impact of working in the right office can have, people will feel more inspired and will enjoy coming to work more than if you just settle for somewhere that isn’t suitable. Employees will thrive in the right building with the right atmosphere, this is why it is so important to think about your business needs before you even start to look for an office to rent.
If you have a list of necessary facilities and requirements, it will be easier to strike of those on the list that do not meet your requirements. You will more than likely have to compromise on some of your ‘wish list’ requirements, but as long as you are not compromising on aspects that are essential to the successful operation of you business then finding an office to rent will be easier.
What to consider when renting an office:
What is your budget? It is important to look at this first as it will give you an idea of what you can afford. You need to remember about business rates, legal fees and any service charges that come with the office. You will also need a budget for any alterations and improvements that you need to make to the space in order to make it the right office for your business.
Look at the needs of your business – do you need to be more central to attract people walking past or do you need to be near a motorway for access?
Size of your business - how many people do you have working for you? How many visitors will you have on a daily/weekly basis? You need to think about your employees, customers and any suppliers. You need to calculate the minimum space required so that you don’t make the mistake of renting an office that is too small.
Any special requirements you have. For example IT requirements – again, you must think about this and put them down in a list of essential and non-essential. The likely hood of you finding an office to rent with all your IT requirements catered for is slim – you may have to invest in upgrading what is already there or putting your own systems in.
Access for customers, employees and any disabled people who may be using your office.
Facilities such as toilets, canteen and kitchen areas and places for people to relax in.
It is important to look at your business plan and forecast. It would be a mistake to rent somewhere that is going to be suitable for your business for 6 months – you need to look to the future and rent somewhere that will be right if you expecting your company to grow significantly. You could look and see if there are other areas of the building that you could extend in to if this was the case.
The advantages of renting an office are that the up front costs are much less than buying. You don’t need to have a huge deposit or take the commitment that buying involves. You are protected from the decreasing property market, something that in the current market is a major consideration. Renting is also a fixed cost which is easier to put in to your budget which again, in today’s economy is a good thing. The landlord of often responsible for the upkeep of the exterior of the building and any shared areas, with the tenant being responsible for the upkeep of their own office – though this is something that you must get checked out by a solicitor before you sign the lease.
Once you have found somewhere that meets your requirements you then need to make sure that you and your employees would feel comfortable there. The office has to be a place where people will be able to work in a productive way. It Is amazing the positive impact of working in the right office can have, people will feel more inspired and will enjoy coming to work more than if you just settle for somewhere that isn’t suitable. Employees will thrive in the right building with the right atmosphere, this is why it is so important to think about your business needs before you even start to look for an office to rent.
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