Things To Consider When Choosing Office Space On Rent

By Author: Abhishek Kumar
Total Articles: 106
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Renting office spaces is becoming an increasingly common business practice. The cost saving associated with rented office space is the obvious reason. If you are running a small business, the initial cost of setting up an office, buying the land and the amenities can be quite expensive. However, there are a number of factors that you need to keep in mind when you search for office space on rent. Some of the key factors are described here:
Location
This is probably the most important factor to consider when choosing your office space on rent. The location must be convenient in the following terms:
o It must be near a vibrant and growing commercial area of the city. Your business address is actually another advertisement and you cannot afford to locate in a dinghy area just because the rent is cheap.
o It must be easily accessible, both for your key employees and your clients. Unless the office can be easily accessed, your clients and employees are likely to switch loyalties.
o Parking amenities need to be taken into account. Try to negotiate special employee rates and reserve a spot for customer ...
... parking if possible.
o Finally, the location of a commercial office space is directly tied with the rent. Find out if the lease is cost effective.
Office space features
Once the location is decided, you need to deal with the internal layout of the office. Some of the important office space features that you should check out before renting it are as follows:
o The floor area – whether it suits your requirements.
o The shape- if it can be designed to your convenience.
o Security of the building.
o Water supply, maintenance cost and maintenance of the shared amenities like lifts and staircases, the boundary etc.
o Presence of communication lines like phones, faxes and the internet and whether you have the option to modify them in future.
o The view and the acoustics – depressed looking office spaces may be cheaper, but they lead to lower productivity.
Commercial factors
Finally, there are a number of commercial factors that can affect your choice of office spaces on rent. These include the following
o The rate and term of the lease. You should read the lease document carefully and get it checked by a lawyer before signing it.
o The cost of installation and up gradation and whether they are allowed.
o Cost saving features like common reception desk, photocopier machine etc can be added incentive.’
o Security and terms of the lease rate
o The contingency provisions when lease ends or if you sell your business or the building owner sells the building before the lease are over.

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