Important Factors in Considering Office Space Rentals

Important Factors in Considering Office Space Rentals

Choosing an office space signals a new phase in your business venture. Whether you’re in the early stages of starting out and growing your business, or you’re looking to relocate your current company for an expansion or reduction in force, there are similar factors to keep in mind while conducting your search. Most office space rentals come with a 3 or 5 year lease agreement, so the spaces you survey should be considered a comfortable option for at least that time period.

Whichever phase your business is experiencing, INCO Commercial’s expert agents can help you find a reasonable office space for rent that not only meets your current needs but is adaptable and allows for future growth. Our agents are strongly tied to the areas in which they serve, and can assist in choosing the rental space matching the demands and requirements of your company. While we can help you with the logistics and finer details, here are some things to consider for your choice in office space as your search begins.

Commute

With an existing company and team of employees, the location priority should be centralized among your employees, especially your top workers. Employees can experience discouragement in extended commutes, and even excessive spending in gas or car maintenance. A central, easy-to-access building will help maintain morale while also providing a competitive edge when recruiting new staff. If your business regularly welcomes clientele to the office, considering their commute time and ease is essential as well.

For those starting off on a new endeavor, INCO Commercial can help evaluate the type of location that would best serve your company. By looking at similar businesses in the area, we can examine which location variables impact their success, and attempt to replicate that for your own business.

Room to Grow

To give you an idea about how much square footage your company and its employees require, there are general industry suggestions, depending on the roles of your employees. For workers in a cubicle situation, the suggested space allotment is around 65-80 SF. Suggested workspace for a supervisor or manager position increases to 120-200 SF, and directors and executives come in at 250-300 SF. Of course, these are only suggestions, and it ultimately depends on how your company will use the office space.

Client space is another factor to consider: does your company regularly invite for meetings, etc.? Are smaller offices enough or would a conference room be more ideal?

Additionally, do you foresee your company experiencing a substantial employee expansion? Will your employees work in the office, or are some telecommuting? As a small business owner, it may be hard to project what the business will look like in a few years. Finding a rental within a building offering several different kinds of spaces may allow for some flexibility with the landlord. In the event that you require a different space sooner than your lease is up, you may be allowed to move within that building location.

INCO Commercial can work with you to analyze the immediate demands of your company, as well as project the potential growth and space requirements for the future.

Location

Surprisingly, finding an office space close to a similar business as your own can have more benefits than disadvantages. If your business frequently accommodates customers, it can help to be clustered near other businesses so the client can take care of errands or other matters in fewer trips.  Depending on the nature of your business, setting up shop near other like businesses may allow for a sharing of resources, such as expensive equipment, brokering services, or even collaboration on certain projects.

If your business does see clients on a regular basis, easy access to the location encourages client interaction, while a decentralized place can sometimes discourage ease of visits, and ultimately, a potential loss in business. In addition to proximity to your client base, the neighborhood atmosphere will also affect how your customers feel about visiting your business.

Surrounding Environment

The context of your business is just as crucial as the physical space you’re working in. Examine the parking situation for both your employees as well as your customers. Will either one have to pay? Is your company willing to compensate employees for paid parking?

Ideally, there are also cafes or restaurants within walking distance for lunches or meetings. Is it important that there is an opportunity to work out or walk during lunch and other breaks? Habitual rests are proven to boost overall productivity, which can help enhance your bottom line. Visit the location or building at different times of day to get an idea what the parking and traffic patterns are like. All of the features in the surrounding environment can affect happiness and morale.

INCO Commercial is committed to helping you find the space that best matches the needs of you as a business owner, and your company. After consulting with you and discovering the requirements and goals you have for your business, we set to work in strategizing the best approaches in negotiating lease terms and agreements with potential landlords in the local area. We work hard to find you the space that best matches the requirements of your business and finances. INCO Commercial will assist you in understanding all of your options before signing a lease. For more information, please visit our contact page and reach out to the location that would best accommodate you. We look forward to serving you and your business!

2018-12-19T12:43:40-08:00