Renting an Office Space is a very important step in any business. Office Space is a major investment especially for a startup group. Moreover, a good office space can in turn lead to better work efficiency. Therefore, before renting an office space there are several things one should look out for.
Here in this article, we take a look at some of the factors to consider before renting an office space:
• Space: Space is perhaps the most important factor to consider before making any decision. A good estimation is required for making the correct choice. While it is important not to over-estimate the requirements, going for smaller space may hamper growth prospects of the firm.
• Finding the right broker: To get the right space, the right broker is required. Brokers can lead to great contacts. They also help in practically evaluating the spacing requirement of the client. It is one of the important things to remember.
• TI costs: TI stands for Tenant Improvement. Tenant Improvement costs are a part and parcel of most businesses. As a business grows, the improvement costs have to be taken care of.
• Lease: Lease Copy should be studied with utmost care. Each and every word of the lease document is very important. Since a lot of things depend upon the lease contract, taking a good look at the lease document is essential before renting an office space.
• Location: The location of the office space is an important factor which is often overlooked. Apart from space and cost factor, location is an integral factor which should be looked upon.
• Analyzing commitment: Before renting, the user should analyze the timeline of the business. Through such planning, proper TI can also be calculated. Also, space and cost considerations may also be altered with such plans.
• Equipment Availability
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