Renting your first office space can be an exciting turning point for your business, but unlike renting a home, the process can be a bit more complex. After all, the office you choose will not only affect the day-to-day operations of your business, but your brand image and your ability to attract and retain a talented team.
Ultimately, there are many things that will influence which space you choose, but these 7 factors are crucial to the decision-making process. If you’re in the market for office space, ask yourself these important questions before you commit to a lease.
Do you really need an office?
Office space, even if you’re renting it, is an investment, so you need to be sure it’s the right move before you sign a lease. For some small businesses, a home office or shared workspace may be all they need, but for others, a professional office space is a must. To help you decide, look for these 5 Signs it’s Time to Move Out of Your Home Office, or check out Does My Startup Really Need Office Space?
How much office space do you need?
One of the first things you’ll need to determine when you start looking for office space is how much square footage you need. You’ll want to consider the number and type of employees you have today, your expected growth, as well as the layout, furnishings and office equipment you’ll need to accommodate them. To help you with the calculations, check out How Much Office Space Do You Need?
How much does the office space cost?
Aside from the monthly rent, there are other costs to consider, including your security deposit, utilities, office furniture, equipment and more. Before you commit to a space, make sure you calculate ALL of the costs. If the extra expenses are killing your budget, perhaps a fully-furnished executive suite would make more sense, or an office space with utilities included.
Is the space customizable?
You’ll want to make the space your own, so find out upfront what you are allowed to do to your space to avoid getting charged for damages. Ideally, you want to find a place that will assist with office space customization. In the very least, new paint and carpeting should be provided, and a full custom build-out with a design team would be even better.
Is the office space easily accessible?
Location is likely your most important consideration when renting office space. It needs to be convenient for you, your employees, and possibly even your clients or customers. Make sure the office building is easily accessible from freeways and public transportation, and, if you haven’t hired a team yet, you’ll want to choose an office that is close to an area populated with potential talent.
Does the building have parking?
Parking is a factor that is often overlooked when renting office space, but it’s important to the operation of your business. Imagine how frustrated your staff and clients would be if they were unable to find an open parking spot, or how frustrated it would be for you if employees weren’t able to make it to work on time, or your clients took their business elsewhere.
What amenities are included?
In addition to utilities, you’ll want to find out what other amenities the building or office park offers. For instance, is there a fitness center, bank or daycare center on the property? Is the office space pet-friendly? These are the things that will make your life easier and help you retain good employees, so be sure to include the perks, or lack thereof, when you’re comparing office spaces.
Looking for Affordable Office Space Near Boston?
Located just 12 miles from Boston, The Lakeside Park offers commercial office space and furnished executive suites, from 300 square feet to 10,000 square feet. Prices start as low as $16 per square foot for a modified gross lease, including utilities, and our spaces can be completely customized to suit your business.
We offer a variety of amenities and services to our tenants, including daycare providers, healthcare professionals, a bank, a spa, several fitness centers and even a hotel with restaurant on the premises. Plus, we are conveniently located just off I-95/128, only a half mile from the Wakefield Train Station and right on the bus line, with ample parking for all of our tenants, employees and their clients.
Interested in learning more about the perks of renting office space within a business park? Get the details on what your business – and your employees and customers – stand to gain if you choose to rent space for your organization in an office park.
Preparing to enter into a lease agreement? Be sure to check out this blog post about the benefits of flexible lease options so you’re well informed and can sign your rental agreement with confidence.