4 Important Things To Consider When Leasing Office Space

5 August 2021
 Categories: Real Estate, Blog

If your business has grown to the point where you need an established location for your business, it is time to start looking at office spaces to lease. An office space will give your business a defined home and will assist you with growing your operations. When it comes to looking for an office space rental, there are lots of things you need to know in order to find the best space.

1. Carefully Consider Location

With an office space lease, you need to carefully consider your location. You want to choose a location that is convenient for your current employees and for your clients. For example, if all of your clients are in the suburbs, an office in the center of the city would not be that convenient for them. Or, if all of your workers are located downtown, a suburban office rental may not be the best for them.

You want to choose a location that works well for your employees and your clients. If your office is too far out of the way, you could lose employees and clients.

2. Work with a Leasing Broker

Office space leases tend to be a little more on the complex side, which is why you are going to want to work with an office leasing broker who specializes in tenant representation. They will work with you to find an office space that fits your needs and will help ensure that the terms of the lease end up being favorable for you.

3. Find Out What You Can Change

When looking at office spaces, it is important to find out what the landlord will allow you to change or remove. Can you remodel and change the layout of the space? Can you change the flooring? Can you paint the walls and switch out the window treatment? You want to find a space that you can customize to your liking so that the space will really work for your business.

See if the landlord will provide for a tenant improvement allowance if the space is not ready for you to move into yet.

4. Know Your Budget

Finally, it is important to know what your budget is. Your budget needs to include not just rent, but also the cost of utilities for the space you are renting. You are also going to want to develop a moving budget to pay for furniture and décor and find a space that will allow you to stick to your moving budget as well.

When it comes to renting an office space, you are going to want to work with a leasing broker, find a location that works for customers and employees, know your budget, and find a space that you can fix-up to meet your unique business needs.