Business

What You Need to Know Before Renting an Office Space?

Renting an office space that too for the first time, can be an overwhelming process. With an experienced office space rental agency, your searching process can be made quite easy.

But before you commit yourself to an office space, some concerns are there that you should be clear about. Here are the key questions that will help you choose the suitable space.

What Is Your Plan for Growth?

Many owners will ask you for sign a long-term. You may not know how you will be growing your business in the long-run. You may be starting your business with few people and you may grow before your lease period is up. You may have to move to another place in that situation, which will cost you extra unnecessary cost.

It is best option to lease a bigger space, so that even if you outgrow you need not worry about the space you need. You can rent the extra space in case you don’t need, provided you should have the permission for that.

Is Your Location Safe?

Your business won’t attract customers or potential investors, if it is in an unsafe and amidst run-down buildings.

How Much Will Be Monthly Cost?

Apart from rent, you need to calculate other expenses to ensure whether it will be affordable for you. Some examples include, parking charges, insurance, telephone and internet charges and such.

Do You Really Understand the Lease?

Usually lease will be written to protect the interest of property owner. There might be ambiguity that causes you misunderstand the terms. Have your attorney to make the lease document clear to you and inform you if anything is unfavorable to your interest.

Can You Sublet Your Extra Space and What Are the Policies for Moving Out?

You will be renting a bigger space hoping for growing your business in future but if it doesn’t happen, you should know whether the owner permits you for subletting your extra space for rent.

When situations arise that you cannot continue your business in that space, find out what will be the penalties if you want to break the lease.

Is There Enough Parking Space?

Before signing the lease ensure that there is enough parking space for you and your customers. See whether it is easy to turn into parking area especially if the building is on a heavy traffic public road.

How Much Will Be the Increase in Rent?

Many owners will be increasing the rent each year to some percentage. Get it documented in your lease agreement, to avoid your rent from shooting up abruptly at the end of your term.

Get help from a knowledgeable realtor before signing any lease. For any of your real estate related needs, Unique Properties brokerage firm can provide you excellent guidance.

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