Finding Office Space for Rent
If you are looking to expand your business, there are many options to renting an office space that suits your budgetary constraints and other requirements. There are different types of property in the market and you can narrow down the search when you get the services of a rental company that specialises in renting commercial property. You can simply let them know of your requirements so that they can give you a list of possible spaces.
You need to have a clear idea about the needs of the company when searching for a work space for rent. You have to take in the number of employees of the company and the budget that is available for this. You can also look at a hybrid model where you can have some employees working at home and the other portion that needs to be in communication with clients and outside parties at a dedicated office. You need to look at how close you are to public transportation or if your staff use private vehicles, whether parking facilities are provided by the building. You can choose an office with an eye for expansion so make sure you ask the rental company about all available space in the building as well as whether the lease of another office in the building is set to expire in a few years.
A flexible option for office space is shared coworking spaces. These spaces are dynamic and allow your employees to work alongside likeminded people in similar industries providing an ideal environment for inspiration and motivation. The leasing agreements for coworking spaces can be more flexible than traditional leases so you will be able to stay within your budget and provide well designed workspaces for your employees. You need to look at the different classes of buildings that are available for rent. A higher class will be a recently renovated building that is located in the heart of the city giving much needed visibility to your business. If you are operating within a tight budget, you can go for a slightly lower class where the building will be in need of a few upgrades but with a reasonable good appearance and location. You can start from here when you are in the initial stages of a start-up and work towards a better office environment. The lowest class buildings will be older with a less desirable location.
To determine your budget, it is best to see the rental costs of buildings in the location that you prefer to get a baseline cost and multiply this value by the number of square feet that you require. You need to calculate the additional square feet that are now required for social distancing as well. Your budget should include other expenses such as the utility bills you will be required to pay as well the maintenance fee that may be included in the rental for common area maintenance. There are established rental companies that offer websites where you can browse for properties or you can work with a commercial real estate broker.