WHAT TO LOOK FOR WHEN RENTING COMMERCIAL

Finding the right  office space  for your firm is a complex process. It doesn’t matter whether you are a start up or an established market force, getting the right space is essential for growth and efficiency. So, when you are entering into the process, there are certain things you need to think about and ask yourself before you sign on the dotted line.

It can be a bit tricky to assess how much space you actually need for your company to run well. You need to think about how many employees you have now but also how many you might have in the future. Do you want to have an open plan office space or would you be happier with cubicles? You might also want to consider new working practices such as hot desking to minimise space and keep costs down. You also need to think about breakout spaces, communal spaces, conference spaces and meeting spaces. A desk for everyone is usually not enough on its own.

The market here in Perth right now is very competitive. Space is at a premium, which means it might be difficult to get the premises you need, right where you want them. So, you need to ask yourself whether you are prepared to pay more for the better location or if you can afford to be out of the CBD. Good knowledge of the market is also essential when you are negotiating with agents.

As we mentioned in the space section, what are the future plans of the company? There is no point moving into small premises if you are planning a major expansion later in the year. Likewise, having loads of space is pointless if you are downsizing or letting people go. It is hard to know what is around the corner but having a fair idea of anything you can predict will always affect your decision.

Although it is unlikely and not ideal, disputes over leases and contracts, and sometimes with neighbouring offices, do happen. You need to be sure from the outset just what you are entitled to in terms of maintenance and commercial activity. Knowing your rights will certainly help should anything legally problematic arise.

Even when you have signed and have moved into the space, things have a nasty habit of coming back to bite you. Make sure you have read everything carefully so you aren’t exposed to unexpected rental increases and the like.

No matter what your business is or how big or small, the same rules apply. Whether it is a long-term lease or a serviced office, get your facts straight and your requirements spot on before you make any decisions at all. It’s the basic rule of any business: think before you act.