5 Factors need to consider when leasing an office space

Are you planning to move your office to new office space? Renting a new office space for your work is not always an easy job. It is an exhaustive job to find a suitable area. You often need to consult with a real estate agent or brokers to full fill your requirement even if have the plan to lease a new office in your current city where you are living not so easy to find. It doesn’t matter where you are planning to move your business and office; you need to do proper research first. I have listed some of the crucial factors before leasing an office space as below.

1)    Define the goal and objective to rent a new office.

You need first to crosscheck your objective to lease new office space. How long will you stay here? Most of the startups require a minimum of 10 years of commitment to rent the property. Your investment never provides you with a good return on investment if you are planning for short-term relocation.

2)    How much space you need

Space is the next factor you should consider. If you want to relocation complete your business into a new area, then you need to lease a big office. But if you’re going to make an only presence in the particular city to find the potential of the market, then small space is also enough for you. Make sure there is the availability of extra space when you require during your business expansion.

3)    Location

It’s a dream of corporate houses to make their office in the prime area of the particular city. If your budget allows you, then you can think of leasing new space in the excellent location of the city. In return, you will get the charm and the value of the investment at the end. If your area is in the prime of the city, but there is not suitable connectivity to reach your space then better not relocate in such office spaces.

4)    The scope of Business development

Do initial research to find the potential range of your business in the particular city and proper location of the town. You need first to understand the overall customer sentiments and business environment where you are looking for relocation. One single mistake hurt you most. So take your time for initial research work. For startups, this is one the crucial factor before leasing new office space.

5)    Check the facilities of office space where you are going to move.

Although you, get new office space in the prime location of the city in affordable price if facilities associated with the new area is not up to mark then stay away from such office spaces. Facility of water, connectivity, and electricity plays not only the important role for your client only, but also very important for employees too. You need to cross check twice all the facilities which your landlords provide you.