When it comes to looking for a small business office space in Ottawa, don’t suffer from “renter’s remorse.” While many small- and medium-sized businesses (SMBs) may feel excited about renting their first office space, many rush into the decision without carefully considering some important factors first.
For many SMBs and startups, they eventually outgrow the small home-based space or office they dwell in and start to look for a small business office space rental. Office space rentals can be a considerable investment, so be sure you’re making the right decision before you commit to renting a space.
Sometimes Smaller Is Better
If you’re an SMB, you aren’t going to need a huge space. Many property owners realize this. They will take large office spaces and divide them into smaller, shared spaces to accommodate for these needs. To maximize on rental costs, many SMBs can look at smaller spaces to begin.
Read the Contract
Before signing the contract for a small business office space to rent, be sure to read it thoroughly. If you have a lawyer, bring it to them to read before you sign on the dotted line. Most contracts are written in a straightforward manner. Regardless, you should honour the old adage and read the fine print.
Consider Shared Space
When SMBs are looking at small business office space in Ottawa, they may not consider shared office space. But this kind of small business office space rental is rapidly gaining popularity amongst SMBs who aren’t ready to commit to a long-term lease.
As an added bonus, these office spaces may come fully furnished and equipped with the latest technology, like high-speed Internet access and fully equipped boardrooms. Those types of added amenities are more ways in which your organization can save money, as you can use them on an as-needed basis, rather than as a monthly or yearly rental.
Find a Rental Term That Works For You
If you’re a startup or SMB with plans to expand, you don’t want to lock into a long-term rental agreement. A monthly or yearly rental agreement may be best suited to your business’ needs. Shared office space rentals often provide tenants with short-term rental agreements so they can move out or upgrade to a larger space as their needs expand.
Don’t Rent Beyond Your Needs
While you may be tempted to rent an office in an upscale or trendy area, be aware that the rental costs will more than likely be high. At the same time, you don’t want to rent in a questionable area just because it’s affordable. Shared small business office space offers an affordable alternative in a good location with a prestigious address—something that any startup or SMB looking to build a reputation can appreciate.
Do Your Research First
This cannot be emphasized enough; if you’re looking for small business office space in Ottawa, or anywhere for that matter, always research who you will be renting from first. Whether tenants are saying good or bad things about them, it should be easy to find this information online or by speaking to current tenants.
As the leading provider of small business office space rental, Innovative Professional Offices (IPO) provides fully equipped offices that are ideally suited to startups, SMBs, or organizations that are downsizing. We offer quality office space rentals in Mississauga and Ottawa. Whether you’re looking for a short-term rental, something long-term, or just a space for meeting with clients, we provide office space rentals at an affordable price. Contact us to book a tour today.