Tips on Office Rental by Atrium Properties

by LDHaney Ear Real Estate Broker

 

Renting office space is one of the important decisions in any business. It involves a long term commitment that will affect the company's profit and loss. The following are some tips regarding office rental

 

1)        Location and Price Range

 

Location is the first factor you need to consider. But what is a good location? It definitely depends on your nature of business. Question yourself the following

 

Is it necessary to locate your office at the Central Business District or Downtown? Having your office located at prime location definitely boosts the corporate image but at the same time, it cost you more.

 

Does your customer need to visit you often?

If your core customers need to visit your office often, it is preferable to be located near them.

 

Is it convenient for your employees?

Do not forget about the benefit of your employees. An inconvenient location with poor transportation facilities will not only give them low morale but it may also affect your company in employing good talents as well as retaining one.

 

As the office rental rate is based mainly on location, you need to strike a good balance of prime location and the rental you are going to pay a month. The saving in your rental can also go to your company marketing or prospecting budget that can bring in more income for your company.

 

2)        Get the right size and the length of rental

 

This may sound commonsense but it is one of the most common mistakes that most tenants make. Question yourself the following

 

What is the size of the conference room? How many people it should able to accommodate?

How many managers or directors MUST have an individual room? Individual rooms take up quite more space as compared to open space. Generally, open concept offices optimize office space.

 

Does your company expect to grow within the next few years? You will need to cater for extra space for employing more staff. Review your company expansion plan so as to determine the length of the lease.

 

Paying a professional space planner to fully optimize the office space will save you cost in the long run.

 

3)        Check out the office and surrounding facility

 

Spend some time and effort on checking the office building and surrounding facilities before you sign on the dotted line. Question yourself the following

 

Is there professional onsite building management?

Are there banking facilities near the building?

Does the parking facility suit you?

Talk to some of the tenants in the building to check out if there is any negative factor that they need to compromise?

What is the central air conditional operating timing?

 

4)        Get Professional Realtor help

Getting a professional realtor in assisting you in finding the right office space not only saves you time as well as saving money. However, make sure you get a realtor that is specializing in the commercial market and NOT in the residential market or a realtor that does all kinds of property. A specialize realtor that is the focus on the location you identified can provide you with the different price ranges of different buildings. The realtor you selected must also be a good negotiator so as to get a good package for you. Remember your main focus is in your own business and not real estate, so leave it to a trusted professional for your real estate needs.

 

We offer State-of-the-Art commercial office space. After 40 years of building and managing office buildings, we have learned two significant lessons: if the tenant is successful, we are successful - https://atriumproperties.net

 

 

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Created on Jan 21st 2020 14:06. Viewed 142 times.

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