Are you struggling to find the right office space for your business? The right office space can make or break your business.
It’s difficult because there are so many things that can hinder your progress. It’s your job to cautiously avoid these mistakes, as your business depends on it.
In this blog post, we will be discussing seven mistakes to avoid when picking out office space for rent.
Whenever you’re ready to begin finding your office space, keep reading on.
1. Not Considering the Location When Picking Office Space
It’s important to find a space that is conveniently located near your target market. If you’re working in an office building, will employees be able to return home quickly for lunch or after work?
What about commute time during rush hour traffic? How accessible is public transportation from here? These are all things worth considering when picking office space.
The location is important for all types of businesses. For example, if you’re a restaurant looking to open in the suburbs – people might be wary about traveling too far out of their way for food.
You’ll want to find an office space or building that is centrally located with quick access roads and public transportation options nearby.
2. Not Being Prepared With a List of Questions
Before going on-site and touring any potential spaces, it’s essential to have a set of questions ready. Make sure to also think about what exactly matters most when looking at office space options. This is so you can prioritize this information while making decisions.
For example, if parking availability was really low when visiting another place, don’t forget to ask about this.
Questions are important because it helps you decide if the space is right for your business. For example, do they have a loading dock or will delivery trucks need to unload in front of the building?
You’ll also want to consider what amenities are included with office rental prices.
3. Not Doing Your Homework on Landlords and Property Managers
Prioritize finding a place that has an experienced, reputable landlord or property manager. You will also want to make sure there are no outstanding issues with city inspectors.
Poor maintenance can cause problems in future years for your business. An unclean space is not only unappealing but it could lead to legal liabilities if people get sick from infestations.
Being prepared is key when doing your homework. You can get a list of property management companies from websites like Yelp or Google maps. After this, begin calling to see which ones are the best fit for your business.
4. Being Unprepared for Negotiations
Negotiation requires practice. Be prepared by having good information at hand like asking prices of other spaces you’ve seen in similar locations.
Furthermore, if you’ve already signed a lease elsewhere then it’s unlikely that the landlord will be willing to negotiate on this front.
However, there are always things an owner may take off your hands if they really want you in their space. For example, removing old office furniture or signage.
5. Not Considering Future Expansion Plans
When looking for commercial real estate, make sure to consider how much room there is for growth and flexibility when it comes time to expand your business operations down the road.
You don’t want to get locked into paying too much rent for too long because of inflexible terms written in leases.
Make sure commercial spaces are not only accessible but have enough space available based on what matters most at the current moment. This way when things change you can adapt quickly.
6. Not Getting a Commercial Real Estate Attorney Involved in the Process
Make sure to have your contracts and leases reviewed by an experienced commercial real estate attorney before signing them. Even if it costs a few hundred dollars it’s worth avoiding future legal problems that could cost thousands more.
In addition, these professionals know all about fair business practices which are crucial when dealing with people who might try to take advantage of your lack of experience.
7. Not Considering the Maintenance Costs of a Space
When you’re renting office space, it’s important to consider how much repairs and other expenses will cost. When checking out potential spaces ask questions like what kind of appliances are in place?
Are there any major renovations needed? How easy is it for tenants to make changes themselves or do they have to go through management before anything can be approved? These factors all contribute towards your bottom line so when looking at different places take them into consideration.
In addition, when researching office space design online don’t forget to check out the company’s website for additional information. Make sure that they have a professional-looking site that shows that they take their business seriously and care about modernizing.
If you notice something strange or unprofessional it may be worth another look at other locations because this could reflect poorly on how your work is treated too.
The Right Space for Your Office
Picking office space for rent requires considerable research. We hope this blog post has given you some helpful tips and insights on how to avoid mistakes along the way.
Do not forget, however, that having quality information at hand like asking prices from current landlords also helps make a nice showing.
By avoiding these mistakes your company will take that next step forward towards finding the right space for rent. By using this blog post as a reference point any upcoming questions or concerns from potential landlords should be easier to address.
Please check out some of our other articles to learn more about real estate in general.