6 Things to Consider When Renting an Office Space

February, 23rd, 2022

Tips for Renting Your First Office Space from Summit Properties

Your first office space will say a lot about your company. An office space reflects who your company is and can influence the perception and function of your company, so it’s important to consider these key factors before renting an office space.

1. Consider the Office Size You’ll Need

Before you get too far into the negotiations for your first-time office rental, consider how much square footage you’ll need in your commercial rental space. Do you just need an office for yourself? Do you need a reception area? Closet space for products or supplies? Write down all your needs and be realistic.  

2. Determine the Amenities Needed

It’s important to discuss the amenities included in your rental agreement. Will your office space be furnished? Does it come with a common area your staff and customers can use? Is the building already wired with fibre optics? These questions will give you a better understanding of how well-suited the space is for the needs of your business.

3. Decide on a Location

You’ve no doubt it heard it before: location, location, location. When deciding on your first office space rental, select a location that’s not just suitable for you, but also for your staff and customers.  

Does the location have easy access from the road? Is it on a transit line? What does the neighbourhood look like?  

4. Determine the Style of Office or Layout Will Best Serve You

Rental space for offices comes in all shapes and sizes.

Office Suites

Office suites give you the room to develop your brand with multiple rooms, often a dedicated kitchen and sometimes a separate entrance.

Private Office

A private office or a dedicated desk may be the right fit for your time rental. The private office or dedicated desk is within a shared space.

Virtual Office

Virtual offices are now a popular thing as well. You continue to work from home but your mail is delivered to a professional office space and often offers a professional meeting room you can use to meet with clients.

5. Consider Your Organizational Growth

When you’re renting office space for the first time, consider not just your immediate needs, but the needs of your future. If you plan to increase the number of employees, how your clients interact with your company or the amount of equipment you need in the future, renting a space that can accommodate those future needs may save you money and stress later.

6. Understand Your Budget

Make sure you understand the full costs of your first office rental. Many leases have costs included above just the rental rate. You may be required to pay for maintenance, utilities, common areas and more. Read the lease offer carefully to ensure there are no surprises once you’ve settled in.

The budget you decide needs to be reasonable. Don’t put your company in debt because your office space takes up too much of your overall business resources.

Ask a professional for help if you’re not comfortable researching office space or when it’s time to negotiate your space.

Need Help Finding Office Space

If you need help finding the ideal office to suit your business goals, consult the professionals at Summit Properties. Contact us today at (519) 914-2766 or email us at nadine@summitproperties.ca  to get started! 

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