This article is part of a two-part article. Make sure to read the first part before proceeding with the second part below.
In the first part, we gave you the factors to consider when renting an office space. Below are questions you need to ask yourself or consider before finalising the office space you are renting.
5. What Amenities and Utilities Are Included in the Rent?
Nowadays, some offices are already being provided with common amenities. These include a conference room, a break room, a gym, a parking space, etc. Most of the time, these amenities are already included in the rental fee you are paying. However, it is best to ask if there are additional fees for using these amenities.
On the other hand, the utilities are the costs that you will have to pay for. These include electricity, water, phone, internet, cleaning and security. You can check if any of these utilities are covered when renting out your office space or if they all need to be paid for separately.
6. What Amenities Does Our Office Space Need?
Now that you know what kind of amenities that office space may offer when rented, you need to know what amenities your office space needs. If you can forego without specific amenities, then you may be able to find other locations with lower costs. You may be able to narrow down your search more and make it easier for you to find the perfect place for your business and your employees.
7. Is This Purely a Workspace or Will We Entertain Clients?
If you rent out a space where you will be entertaining clients, it is best to look at areas with a lovely ambience. You don’t want a room that looks like a ghost town because it is only used for work.
However, if you are just renting a workspace, it is better to look at spaces that are not so upscale. You may need to save more on your rental costs than to have a nice-looking space.
8. Is This a Good Location?
When renting an office space, consider the location of the area. It is always best to rent a space near public transits and other office spaces—preferably business units. Choosing these locations will make your office more accessible and visible. This will be beneficial for your employees and could also be helpful if you are trying to hire more people.
However, these good locations are often more expensive. Make sure to consider how this additional expense will affect your business. Likewise, if you choose a farther place, consider how it will affect your employees' cost of living and their salary needs.
9. Can We Pay for This?
When renting an office space, you need to be sure that you will be able to pay for it. Don’t just say that it is possible and then run out of money after paying for it. Instead, make a budget for your business. Don’t forget to include the expenses you need to pay for after renting your office space.
10. Do We Need an Office?
While it would be excellent for your startup to have its own office and address, it may not be necessary. Most of the time, startups only need a workspace, whether at the home of employees or a co-working space. Anywhere there is access to all the facilities one needs should be more than enough and does not have to be a rented office space.
If you feel like your startup can still function without an office space, then you may consider holding off on renting one for a bit. This will allow your business to save on costs; by the time you need one, you will have a bigger budget and be more ready to pay for it.
When choosing an office space for your startup, it is best to consider all of these questions. Otherwise, you may pick a space that looks nice but will cost a lot more than you can afford.
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