What to look for when renting an office space
When seeking rental office space, you want the best for your business. Here we advise what to look out for.
Location, location, location
Whatever your business, your location is vital. Choose an easy-to-access spot that is convenient for both workers and clients, and make sure the local area is safe.
Ensure that the office can be reached by low-cost public transport or car journeys. Suburbs-based premises are usually cheaper, but may be less accessible.
Investigate space and facilities
Consider what amount of space your business needs, and provide for realistic expansion. Don’t rent a space that’s too small to save money, since a packed office may adversely affect productivity. Ideally, select an office with a layout that fits all your requirements for desk room, storage, connectors and plug sockets, as changing a floor plan can be costly, and many agreements restrict alterations. Big open plan offices supply the most flexibility, letting you fit more furniture and desks in cheaply.
Look into health and safety regulations to establish whether there are adequate temperature controls, ventilation, toilets, lighting and kitchen facilities. If you work outside usual business hours, look for 24-hour access.
Adaptable serviced offices
Buying serviced office space could mean sharing Wi-Fi, office furniture, kitchens, storage areas and lounges plus support staff. Sharing amenities can boost your business without buying equipment and furniture. Serviced office leases are generally short, so you can speedily alter your premises as your business grows.
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For more on what to look for, see https://www.zoopla.co.uk/discover/commercial/renting-offices-guide/#HmuddzvRCqBrPdLX.97.
Spaces on your own premises are perfect, but free or cheap street parking – or council car parks nearby – can also work. Otherwise, try to negotiate with nearby private car parks.
Sharing office space
If you have a space-saving business, invite another business to share your office. This saves money and is most effective if you select a compatible business.
Remember hidden costs
The lease’s top line figure doesn’t properly reflect what you’ll get when renting office space. Investigate what your lease includes, and budget for extras. These include construction costs, utilities bills, maintenance costs, insurance, moving costs and VAT on rent. You should also buy tenant insurance for self-protection.