January 6, 2021 5 Tips For Leasing A Private Office For Your Business

Finding the right office takes consideration. Here are some tips to assist in the search.

A private office is not just a workplace. It’s where your brand is born and where collaboration begins among your team. Also, your private office is where the right workflow transforms into productivity.

That being said, you can’t simply choose an office space simply for its size. Finding the right office takes consideration, and here are some tips to help you out.

1. Negotiate Your Lease Term

Whether you’re working on a startup or your business is a few years old, an office lease is only as good as the way you need it. Your startup may require a bigger space, but times will change–you may find yourself with fewer people to work with or the rent is just too high for your current situation.

Talk to your landlord and try to settle a deal for a shorter lease term with renewable options. For instance, if the lease is for three years, you can try to work on a compromise to lease it for a year and a half with a chance to renew.

2. Find The Right Space For Your Team

Startups and medium-sized enterprises will only have a few workers. Hence, you don’t need to start with a large space outright. However, you must learn how much space each individual will need, how big the area should be for collaborative work, and how much you expect your business to grow within the lease term.

You can look into www.officeevolution.com/private-office for a collection of clean and professional office spaces. Try to find a location with a variety of office spaces so you can relocate within the same area should you need to make a change.

3. Accessibility For Customers

There are private offices where your team works behind the scenes, and there are offices that receive clients, or both. Consider an office that should be reachable with both private and public transportation and easy to find.

Ideally, your office should be near key locations, such as the police station, fire station, and hospital.

4. Compromise For Tenant Improvement Terms

There are office spaces situated in the location you want. However, they’re not necessarily in the condition that you need them to be. Who pays for renovations or repairs will depend on the office space market in the city.

When negotiating for space, ask if you can be allowed to fix the space with the landlord’s consent. You also need the conditions that the consent won’t be delayed or withheld. Keep in mind that you may need to put in a sum for this consideration.

5. Get To Know Your Landlord

It’s easy to get lost when finding a good office space. At first, it may seem like you only need to care about the enterprise’s growth, the wellness of your workforce, spaciousness, and the accessibility to various resources. However, it would help if you also considered who you’re dealing with.

Back then, tenants get most of the attention when it comes to reputation and creditworthiness. Today, the landlord is also subjected to a credit check, especially on large deals. You may also need to find out if the landlord has a good history with tenants. When the market crashes, you need to be sure that your landlord won’t try to break the deal and raise the lease price during times of recession.

Conclusion

Leasing a private office space comes with a few considerations, not just for your business but also for your team and the financial side as well. You must learn how to negotiate and know which terms to settle for your benefit.

It pays to be honest with your landlord and let them know what you need, especially if the space needs fixing. Never settle on a deal that doesn’t serve your best interest since the outcome will affect your business in the future.

Herminia Whitley

Herminia Whitley is a full-time blogger who publishes business-related content online. Aside from updating her own blog, Herminia also submits guest posts to other relevant websites. 

During her leisure, Herminia loves to take her dogs for walks.

Subscribe to Industry Today