5 Questions to Ask Before Getting a Furnished Office for Rent
June 21, 2021
Entrepreneurs and new business owners need an office to run their business. Finding office space on a lease can be intimidating and discouraging for the first-timers like budding entrepreneurs. There are many factors involved while getting a furnished office for rent, which makes them so daunting. Leasing an office is not like other leases of various things like cars and homes. Office on rent, in particular, involves a complex process, terms and conditions, and legalities.
Because you are just starting, the company’s cash flow and overall is may or may not be stable. Since the stability is not constant, you must consider flexible contracts rather than rigid ones. Risking your time and money is not an option. So, it’s best to prepare yourself before you take office space on rent. Here are 5 essential questions that you must ask yourself before renting –
Q 1 – How much office space my team needs to work effortlessly?
This question is not that easy as it seems because for a layman renting an office space that can occupy all the headcounts in a team is enough. You are not a layman, you are a business person who expects the business to grow in the future. Flexible office space provides easy solutions to get the desired office space whenever you want.
Q 2 – Is the commute to the new office comfortable for the employees?
Employees prefer to work in a place where there are easy commute options are available. Aside from good road connectivity, they also prefer a fully furnished office for rent with essential amenities nearby. Industrial hubs, business parks, city centres, etc. are some of the prime locations where daily commuting is easy and affordable. So before renting an office, discuss the location of your potential new office with the team.
Q 3 – Do I have to hire a broker? If yes, how much their services cost?
A property broker or a real estate agent is a mediator who works between you and the landlord to set the deal. Hiring a broker will make many things easier for you. Not only they are expert in sealing the deal but they also have expertise in all the paperwork needed for the transaction. The service cost of a real estate agent depends on region to region and agent to agent.
Q 4 – How long is the leasing process?
The leasing process can be lengthy and can take a minimum of six months to finish. Without an expert property broker, the time may extend longer. When it comes to business, “time is money” and every second matter.
Q 5 – Would I be able to get more office space if my team grows?
Getting more space for your business is entirely depends on the contract with the landlord. If the contract is too rigid, it will be hard to change the existing office space. There are two options to avoid that –
- Get a shared coworking space
- Or switch to the new location
As a new business owner, you cannot afford to switch locations. Therefore, it’s best to get coworking office space for rent.
Although you can switch places whenever your team grows or reduces, you can go with more flexible options. Investing in a complete office is not wise for startups because you will pay for the space you do not need. Coworking office spaces on the other hand are affordable and perfect for small teams.
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