Choosing an office space is always very challenging because it is a big step for any business, you do not want to pick a location that would put off employees or clients, you have to think of your budget, and most importantly you have to choose a space for the future and not for the present situation.
Below are some of the important questions any business owner should ask him or herself before selecting/ leasing an office space.
HOW MUCH SPACE DOES THE COMPANY NEED?
One of the best ways of determining your business office space requirements is by hiring a space planner. These people can help you visualize the space based on your specific business plans, needs and workflow. A company or business owner one must not only think about the immediate needs, but also about the growth of the business. If you are on a tight budget it is advisable to negotiate shorter lease terms, or the first right to negotiation on any adjacent vacant space opening.
IS THIS THE RIGHT LOCATION FOR MY BUSINESS?
Everyone knows it is all about the location. The type of business you intend on running will determine the location of your office. Is there going to be a lot of traveling or out of town clients? A central position near airports and train stations will be good, ample parking and proximity to restaurants, closeness to the highways so it is easier for your employees to commute, or you want the business in a quiet location? The business owner must weigh these options for each space considering. This will prove very vital in the long run.
DOES THE OFFICE SPACE MEET YOUR TECHNOLOGICAL DEMANDS?
If your business practice require heavy bandwidth usage be sure to check and verify all potential properties have the required infrastructure in place to meet up with your business demands.
WHAT DOES MY RENT COVER AND ARE THERE ANY HIDDEN COST YOU HAVE NOT CONSIDERED?
What your rent covers varies from one property management company to another. A modified gross lease could mean items like housekeeping, maintenance, insurance and utilities are covered by your rent but you may be responsible for electrical, mechanical or plumbing repairs. You can find a property management group that offers full gross lease, which means your base rent has got everything included.
The business owner has to put into perspective the total cost of the move.Cost of the new office space – rent, construction cost there, expenses to be incurred during moving, even restoration of the space you are moving out of, and any other cost that may not be obvious.
WHO IS THE PROPERTY OWNER AND IS THE PROPERTY UP TO CODE?
Before you put pen to paper you must have done a background check on the property owner and/or property management company. You will need to know if property is ADA compliant and up to code, the security measures that are in place, you need to know if they are creditworthy. Do not shy away from asking other tenants about your potential landlord. A reputable landlord or property management group has nothing to hide.