Renting an Office: What to Watch OUT FOR
If you are looking for a new office, read on for some useful tips to save money and time.
RENTING AN OFFICE: WHAT TO WATCH
Because flexible offices offer convenience without delays, the decision to rent office space makes good sense for today's start-ups and future SMEs. If you are looking for a new office, read on for some useful tips to save money and time.
Location is paramount. Ideally, choose an area with good transport links for visitors and business trips. Also, look around the immediate neighbourhood for promising signs such as a fair share of flourishing businesses. If you or your employees are likely to be working around the clock, safety is an important consideration. Wide, brightly lit paths and access routes are a plus point.
2. Parking and Transport
Unless it is possible to walk to work or use public transport, you will need a parking space every workday. If rented office premises do not have a dedicated area or nearby on-street parking, it may be possible to negotiate a private agreement in the vicinity, before resorting to paying car park fees.
3. Terms and Conditions
Beware of committing to onerous lease terms that could restrict your options and mobility long into the future. Wherever possible, maintain a reasonable margin of choice that lets you move on if you so decide. In this sense, flexible offices allow you ample room for manoeuvre as your business grows.
Do the office space and meeting rooms have sufficient electrical and network connections, such as a fibre network link and fast Wi-Fi? These quick and efficient ways to communicate are increasingly important to share data, minimise stress, hold videoconferences and save on travelling time.
5. Meeting space or room(s)
A dedicated meeting room ought to be high on your checklist if you plan to meet colleagues, visitors and suppliers in comfort, away from unnecessary interruptions. They are essential for business credibility when it comes to interviewing staff, too.
6. Space Requirements
In terms of floor area, it is shrewd to allow for the possibility of organic growth when choosing office premises. If possible, factor in just enough extra room for your business to expand over the medium term.
Apart from being bad for morale, cramped office environments are a false economy because they tend to reduce productivity. Conversely, excessive floor area is probably an unnecessary drain on business finances due to the higher rental and maintenance costs, as well as additional expenditure on winter heating and air conditioning, if necessary in summer.
7. Working Environment
For comfortable working conditions, your new office space ought to have temperature control, sufficient ventilation and good lighting. Similarly, a basic kitchen area and toilet facilities have to be high on the list, too.
Consider whether the office layout and furnishings will support your way of working. Is there a private area for confidential discussions? At this busy time, it is easy to overlook basics such as enough power supply points for office equipment and desk lamps. Of course, with additional staff, you and your team will need more sockets.
8. Safety and Security
If you work outside normal business hours, 24-hour access will be necessary – preferably with effective and reliable access control.
9. Managed Facilities
Serviced offices are ideal for fledgling business owners who prefer to rent office space without having to worry about managing the rest of the building and its maintenance. Typically, lease agreements include security, Wi-Fi, a concierge or reception area in larger buildings and even catering or a cafeteria. Naturally, the concept can be attractive for start-ups because the convenience gives them more time to focus on core activities and their client base.
10. Additional Expenses
When checking the lease conditions and your business budget, do remember to add on the cost of insurance, electricity, gas and water utility supplies if not already included. Ask about recent maintenance, too – unless the agreement covers ongoing costs. In contrast, agreements for flexible offices usually cover these expenses.
Stevenage Office Space
Finally, if your client base is in the Stevenage area, The Hive now offers bright, modern and well-maintained Stevenage office space, designed for entrepreneurs, self-employed professionals and business partnerships. Click here to contact them about this exciting opportunity today.