Whether you are an entrepreneur or startup business owner who is looking to rent office space for the first time, or your lease is up at your current building and you are looking to move to a new office rental space, you should get organized with an office space leasing checklist. Finding the right office space to suit the needs of your business can be a daunting and, oftentimes, difficult task because there are so many things that need to be carefully considered before you settle on an office space to rent. Sometimes, you might not even think of a certain situation or scenario until you come face to face with it. That is why foresight and preparation are key factors when looking to rent an office space.
Top 4 Questions to Ask when Leasing Office Space
Here is a list of top four things to consider before leasing commercial property:
Ask yourself just how much space is necessary for your business. Consider whether you think your business will remain the same size as it is now or whether there will be expansion in the future. Be sure to prepare for both scenarios as it can be difficult to predict what happens in the future. You might find yourself and your business in a circumstance where expansion or even downsizing is necessary, and it is always better to be safe than sorry.
While determining how much space you will need is not an exact science, try to break it up fairly based on the number of employees you have and how they each rank in their positions. These days, most modern companies prefer to have a mostly open floor plan because this can help to drive employee productivity and compatibility, but at the same time, it is still important to have private office spaces for client meetings, interviews, and even working on group projects.
As with any big move, renting a new office space comes with its fair share of costs. This includes the rent amount (whether you are paying monthly or biweekly depending on your agreement with the landlord), moving costs, construction (if you plan on remodelling), utilities, legal fees, and other miscellaneous costs that may come up. It is up to you to design a budget that works for your business model and still allows you to pay your employees a fair salary or wage while still accumulating income. Make sure you account for all upfront costs within your budget.
Is There Room for Growth?
This is perhaps one of the most important questions to ask before renting an office space because, once again, it is difficult to know exactly where your company will be in the future. If you already know that you want to grow your company and eventually increase the size of your staff substantially, then you need to plan for that from the beginning. However, if you cannot afford to rent a big space right now, then it is wise to at least discuss the possibility of expansion with your landlord before you sign the lease.
See if you can work something out in your contract that will allow you to either obtain more space in the future or even decrease the amount of space should it be necessary in the future. You might even want to consider signing a shorter lease to begin with so that your options are not limited.
Convenient Location for Clients and Employees
If you are moving from a previously established location to a new office space, then it is crucial that you take your clients into consideration. Try to see if you can keep the new location close to the old location because, oftentimes, older clients may not always be willing to travel to a new location if it is too far out of their way. The same can be said for your longstanding employees. If it is too difficult for clients and employees to get to your new location, they might just take their business and their services elsewhere, like one of your competitors. Choose a central and convenient location that is easily accessible to most of your client base and your employees. It is typically best to remain in a metropolitan area because transit is more reliable.
Office Space for Lease in Ottawa
At Innovative Professional Offices, we are committed to helping your business succeed in every way possible, and we are always available to answer all questions you may have when leasing an office space with us. All of our services and rental plans—whether you are looking for a traditional office to rent or a virtual rental office—are fully customizable to meet your standards. We have a wide selection of affordable packages to best fit your business needs. Contact us today to learn more about our business call answering services.
Latest posts by Pat Fernandes (see all)
- How to Determine the Right Office Space Rental Size for Your Business - June 29, 2018
- Renting Office or Retail Space for Business - June 29, 2018
- Why Rent Onsite Meeting Rooms in Ottawa - June 21, 2018