Ready To Lease An Office Space For Your Small Business? What To Know Before Signing

May 11th, 2018 | by Anica O
Ready To Lease An Office Space For Your Small Business? What To Know Before Signing

There’s a lot to consider before you decide to rent your first office space. Least of which is whether you can afford it. Here are some of the things that you need to know before signing the lease.

Determine Your Space Requirements

Decide on how much space that you need. Don’t just size your office space for what you need right now. Take into consideration whether you want to have the opportunity to expand your business without having to relocate. Determine if clients are going to be visiting you in your office. This may mean that you want to create a reception area to make it more conducive to your clients. Factor all of this into the equation when setting your budget for the space that you need.

Consider Additional Expenses

Look into the additional expenses that will come with the office space. Utilities and insurance costs will also need to be factored into your budget. Read the lease carefully to see if there are any incentives in regards to utility costs. Some landlords may provide some of the utilities in order to make the offer more appealing. This may play a factor in the decision that you have to make. Determine if the landlord is responsible for the upkeep of any landscaping or the building.

Be Aware of the Condition

Consider asking for an inspection report or performing your own inspection. Don’t forget about checking out the roof. You need to be aware of the condition of the office space before you sign the lease. Ask if you’re responsible for any maintenance issues for the space. You need to be aware of how the space will look if you move in today. It may mean that you have to make some alterations to accommodate your needs. Roof repair may be something that has to be taken care of before you sign the lease.

Take Into Account Parking Issues

Many downtown locations may not include parking as a part of the office lease. Ask if there are any parking restrictions or requirements in the area. This may be another important factor to take into consideration. Employees and customers that struggle to find parking may not be in your best interests. Another plus that you can offer your employees may include a bike rack or being near public transportation. Being near amenities may make the office space more appealing.

You want to select the right office space for your business. It may be tempting to just factor price into the equation. This can lead to you spending more when other issues arise.