7 Things To Consider Before Leasing Office Space

We know how excited you must be watching your great idea turning into a running business. The next thing you need to look for to make your business grow and succeed is an office space. 

Renting office space for your budding business can be a little overwhelming. Because there are so many options available in the market. Even for larger organizations, it is not an easy task to switch offices. When it’s about leasing office space, choosing any place would be a mistake. 

Therefore, before coming to any conclusion, ensure that the office space you are going to invest in is the one that fits your requirements. When you begin your search, you can find different office space for startups and coworking office spaces offering you the best deals. But don’t fall for the first one. 

With a number of Coworking space, you have much to explore. To help you in locating perfect office space, we are here listing a few things you can consider.

1. Budget

The first thing you need to consider is your budget. You have to be clear about the amount of money you are willing to spend to lease office space. You need to make sure that whatever shared office space you are going for comes within your budget. You will be glad to know that the majority of coworking spaces offer almost everything a business needs, such as seamless internet connectivity, furniture, and other amenities. But while looking into the basic charges, don’t forget to pay attention to the amount of security deposit as the same can stretch your budget.

2. What you excerpt from your office space

Another thing you need to determine is the expectations that you have from your working space. This will help you list out all the amenities you need from a shared office space. Once it is crystal clear in your head what you need, you can go for a space that provides all. 

3. Expansion

Your business will grow with time, and you may hire more people. The place you are renting today will no longer be capable of accommodating your workforce. Therefore, it becomes crucial to go for a coworking space that offers you the scope for expansion. 

4. Time duration

Planning for the future is what good businessmen do. While leasing office space, have an idea about how long you are planning to stay there. 

In case you are planning to stay for the long term, then ask for a trial period to know how well the environment suits you. This will also help you find how comfortable you are working there. If you like the place, you can get into the lease contract for a few months or a year. 

5. Location

It is always a good idea to rent office space nearby your location. It helps you save both time and money involved in traveling. If the location is a little far away, then go for the one which is convenient to reach. So, while searching for a coworking office space in Faridabad, along with considering the cost, keep in mind that location matters too.

Go for shared office space that is:

• Close to all kinds of transportation facilities
• Safe to travel at night
• Provide you the best value for your money

6. Amenities

Ensure that the coworking space offers the resources you require to run your business. The amenities you need will depend on the type of work and operations performed by your business. While some businesses can run their business with basic resources like a good internet connection, others may demand big screens and meeting rooms. 

Here some basic amenities you should look at before leasing/renting a coworking office:

• Comfortable seats
• Fast & Seamless Internet Connection
• Stationary and printing services
• Occasional availability of Conference Rooms
• Pantry/ Cafeteria
• Power Backup
• Security
• Storage facilities

7. Make the final call

Before signing the lease contract:

• Check out the terms and conditions precisely.
• Be clear about the move-in/move-out policies to avoid conflict in the future.
• Take a look at the penalties for breaking the lease and the consequences that follow.
• Once you are aware of all the terms, conditions, and policies associated with moving into the office space, make the final call.