Five Things to Consider Before Leasing an Office Space
Leasing an office space is a dream for many freelancers, entrepreneurs, and established business owners. Taking your business out of your home office might seem like a dream for many, but it can turn into a nightmare for some if you don’t consider some things before making the big decision.
Think about your needs
Before you even start browsing locations in-person or online, you have to think about what your needs are, to begin with. If you’re someone who needs a physical space outside your home, then leasing a physical office space might be for you. On the other hand, if your business doesn’t require a physical space and you don’t think you would get much use out of it, then it might be a smart idea to reconsider.
Location, location, location
Location is king when it comes to leasing an office space. Whether you’re looking for something close to your home, close to your clients, or both, the location of the space is essential to consider. Depending on what side of town you’re browsing will also depend on the amenities available. Things like parking, safety, and amenities like food and coffee will all come into play. Take your time deciding on a location and what it can offer.
Before you sign on the dotted line, I highly recommend you review all contracts and conditions of the space. What are your rights as a tenant? Will you be allowed to personalize it to your needs? Are any of the items negotiable? These might all seem silly things now but can make the world of a difference when you’re a month in and realize you’re not allowed to paint the space anything other than white.
Length of the lease
For many business owners, leasing a physical space can seem like a peak in their journey. For some, it can even feel like a stamp of approval that you’re a legit business. While this can be true, it’s also important to understand that you might not like leasing a physical space as much as you thought you were. That’s why it’s so important to consider the length of the lease when you’re looking to make the move. While making a 12-month lease might make sense, starting with a low-commitment six-month lease might be a safer starting point.
Don’t forget your budget
Nothing will determine what office space you can lease for your business as much as your budget will. While you might daydream of a storefront on the busiest intersection in your town, you might only be able to afford a kiosk in the mall. Don’t sacrifice your finances for something big and shiny. Start with a space fit for your needs and budget. You can always upgrade as you and your business grow.