5 Mistakes to Avoid When Renting Commercial Office Space

Renting commercial office space has a lot advantages. Renting can give a company some degree of flexibility by allowing them to test the waters in a certain location. It can save the company a lot of money and can provide easy maintenance. Renting an office space will require a lot of planning and organization in order to avoid financial catastrophes. Here are 5 mistakes to avoid when renting commercial office space.

5 Mistakes to Avoid When Renting Commercial Office Space:

1. Going against the image of your business - As the cliché goes, first impressions last. Where your company office is located and how it looks can greatly influence how potential investors and clients will perceive you. Make sure your office location and space can represent your company’s mission and vision, plus the quality of service you can offer. Who would want to go to a law firm that is situated above a nightclub? Who would employ the services of an agency that looks dull and lifeless?
   
2. Compromising function and convenience for lower expenses - It might save you tons of money, but do you seriously think that people would want to do business with you if your office is located in the outskirts of some rural area? Be sure your office is accessible by most types of transportation. Always consider the convenience that your clients deserve when visiting you.
   
3. Thinking short term - Always plan ahead and determine what your future needs are. If you find your current rental office space to be ideal, do you think it would still be beneficial for you after 5-10 years? Avoid signing long term leases that could have a negative impact on your company, financially. As much as possible, rent a managed or serviced office space, which is actually the trend nowadays. A managed office space tends to have more flexible terms so you can avoid having to commit to a long term contract. This way, you can easily relocate when you need to.
   
4. Disregarding Budget - Renting office space can be very exciting for new businesses –It’s like decorating your room for the first time. Being too excited can be disastrous. You might even go into debt even before you start doing business. Keep in mind that you still have to pay for furniture, insurance, rental, and other hidden costs.
   
5. Settling for the wrong office set-up - If you’re a start-up company, you probably don’t have the budget to remodel your office space, or in some cases, the contract you signed does not permit remodeling the space. If that is the case, be sure to only use the appropriate office layout for your office space. Investing in the wrong set-up can affect how you employees work and interact with each other. If you are a creative company that requires a lot interaction and exchanging of ideas, having an office space that has too many walls and partitions may not be helpful.

Getting Help

An experienced real estate attorney can look over your contract and help you to determine if your lease is fair and if renting that particular office space is in your best interests. Make sure to have your lease read over by a professional before signing the agreement.