Ask the Right Questions Before Renting an Office Space
Before deciding on the right office space to rent for your business, there are some important questions you’ll need to ask. This is a huge decision that can affect your company in many ways. Doing your homework before signing the contract can make all the difference in the success or failure of your company.
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Crucial Questions to Ask When Choosing an Office Space
We’ve put together a list of questions to ask when you’re out reviewing office spaces. Let’s get started.
Some office spaces even provide security. Just ask if this is a service that’s included in your lease. Be sure to ask what type of security is offered, too.
This is an extremely important question to ask before signing the rental agreement. There are a wide variety of office setups—everything from coworking spaces to serviced offices and more. Each management facility’s lease will include different services at various price points.
For example, ask to see if the lease includes utilities, office furniture, access to office equipment and more. If not, are these services available as separate prices? If you don’t access these services, will you still need to pay for them?
Some office management providers do offer bundled services, which could be a great way to keep costs down. But you’ll need to ask the right question to find what’s included in the lease, or not. You want to avoid getting into a situation where you’ll be paying more than you can afford for the office space.
2). Who is Responsible for Maintenance and Repairs?
Even in rented office spaces, it’s entirely possible you could be held responsible for expenses dealing with repairs and maintenance. If you find that you’re responsible for these costs, then see if it’s possible to negotiate the percentage you’ll be held responsible for. This isn’t always possible, so if you’re worried these expenses could be too much for your business, then it’s best to look at the next rented office space on your list.
3). Who’s the Landlord?
This is an important part of your homework, too. Knowing who the landlord is can be crucial. You may ask for an earlier tenants’ contact information, then you can ask them for their views on the landlord. You can learn valuable information such as if the landlord is easy and pleasant to work with, or if they are unfair.
4). Does the Rent Increase Each Year?
Some leases include built-in rent increases, which means that your business could be hit by higher than expected rent at some point in the future. Some rental increases are set for specific amounts, while other leases may not stipulate how much the rent could increase.
Make sure you know this information to keep from getting into an office space that may end up too expensive for the business.
5). Is there Enough Space to Accommodate Everyone?
Another crucial question is to ask if there’s enough space to accommodate you, your employees and any visitors (clients & business partners). You want to make sure the area is large enough to keep the office comfortable and not too crowded for everyone.
An office space that’s too small not only makes it uncomfortable, but employees will find it drains their creativity and productivity, too.
6). Is there Enough Parking?
Some companies tend to overlook this issue, don’t be one of them. You’ll need to find an office space that offers enough parking for your employees, clients and partners. If there’s enough parking, then ask where cars are parked. For instance, are vehicles parked on the street, or is there a dedicated parking area or parking garage?
If there are dedicated parking areas, then remember to ask if these are available to visitors, as well as employees.
7). Are there Penalties for Ending the Lease Early?
What happens if suddenly you can’t afford the rent, or you need to move to a new office space? You’ll need to get out of the lease early in these situations. Be sure to ask if there are penalties for getting out of the lease early, and how much they are before you sign on the dotted line.
8). What are the Move-In & Move-Out Policies?
Before signing the lease, you’ll want to know what are the policies for moving in and moving out. For instance, you’ll want to find out how long it will take before you can move in. If it takes several weeks, and you’re ready to move, this could mean the business could face severe disruptions in operations.
And what about moving out? What’s involved? Will you be responsible for repairing and cleaning? If so, then consider if you’ll be able to afford these costs when the time comes.
These are some essential questions to ask before signing the lease. Renting office space is a huge step for your business. So be sure to get the answers to these questions, and you’ll end up in an office space that’s the perfect fit for your company.
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