Every business needs to have its own office. Unless your business is purely online, you’ll need an ideal place to handle your customers and to house your employees. Leasing an office space is a giant step towards your business development.
If you think you’re ready for it, here are 6 steps on how to lease office space:
Consider your needs
Make a list of the things you need for your office. How much space do you need? How long are you planning to lease the office? Have an ideal location already in your head. Small Business Notes have an informative article on choosing a location for your business.
Map out your space requirements, equipment needs, and even parking and lease rates. Also, it’s vital that you make a budget table as early as now so you can set your price range. You can be as specific with your needs as you want.
You can do this manually, meaning on your own, or you can hire a tenant representative broker.
Having a middle man might cost you a bit more than searching yourself. But with a broker, you’ll have more time for other things, and you can trust that you’ll be getting the best deal available.
If you’re still not convinced, read this article from Office Space Guys.
Once you’ve found the perfect spot, discuss improvements or the adjustments necessary. Will you be extending the office area in the time frame of the lease? Will you be installing equipment, electric cables and appliances?
Discuss all improvements with your landlord. You can also negotiate with him on improvement costs, as well.
Never be afraid to negotiate.
Find ways to reduce cost
Leasing office space will cost you unquestionably. You can discuss with your business partner several options to reduce lease costs, and the adjustments you’ll have to take. You can consider getting a larger area than renting it to a small business owner.
You can also consider sharing offices with another business, which can profoundly solve your finance issues. Just keep in mind that shared offices hold no privacy.
Review the details of the lease
Once you’ve decided on the place, and you’ve mapped out the budget, it’s time to review the fine print.
Remember your occupancy date, review plans of extension, termination rules, security, and access to common areas, HVAC issues, and so on. Review all these with your landlord and your lawyer present.
Always have your lawyer present when you’re confronted with documents. The great thing about leases is documentation is always required. There might be a lot of legal terms that you could encounter when signing lease papers.
Have your lawyer review it carefully. When he gives you the go signal, then you can sign the papers.
Having your very own office is a part of your business development. It may not be a priority for small businesses, but at the “end game”, you still need a stronghold. Leasing office space is the first step towards making a mark in the industry.