Find office space for lease or sale
Launching your own business is an exciting proposition, but there are a lot of administrative and practical issues you'll have to deal with, and leasing office space is one of them. Even if you plan to start out working from home, you may end up needing to find office space for rent to accommodate your growing business as you find greater and greater success.
When seeking office space rentals, it's important that you know what you're looking for in a lease before you start shopping around. While you can enlist the help of a real estate or property leasing agent to help you find the right space at the right price, knowing how to shop for office space for lease is a skill that you should develop if you plan to have a long career as a business owner.
Tips for Office Space Rentals
When you first start a business, your capital is usually limited, making it extra important to spend every dollar as wisely as possible. Thus, you should begin by doing an analysis of your business operations to determine minimum and maximum square footage requirements.
The length of your lease is an extremely important consideration. Office space rentals with one-year terms can be difficult to come by. Three-year leases are far more common, and some commercial real estate properties even go as far as to require a five-year commitment. When you're just starting out, try to negotiate as short a lease as you possibly can. This will make it easier for you to make alternate arrangements if you experience an unexpected burst of growth.
The terms, conditions and services associated with the lease are as important as the term itself. Are utilities paid for, or are you expected to cover these yourself? Are there perks, such as central air conditioning and heating controls? Is office cleaning covered, or are you expected to arrange this on your own?
When you're negotiating a lease, you should make a list of "must-have" terms that you are not willing to compromise. If you find it impossible to reach a deal with a particular landlord, keep looking until you find an arrangement that requires you to sacrifice as little as possible.
If you have the financial strength, remember that finding office space for sale may be a viable alternative. You'll free yourself from the worries associated with renting from a landlord while adding a significant asset to your business portfolio.