Getting into the world of business for the very first time is scary, hard and confusing for some people, regardless of how experienced they are. Due to that, they could use all the help they can get, especially when it comes to renting office space. Here are a few tips that might assist you in this matter.
All About the Money
If you don’t know how important money is in the business world, consider dropping the idea of being an entrepreneur. The first thing to think about is the budget for your commercial property – how much money can you spend and what are the other expected expenses? It’s not just about paying the rent, but the utilities as well, together with salaries, office material, furniture and all other expenses that come with a new company.
Putting all these on paper might help you understand how costly each expense is on a monthly basis. You can then calculate how much you can spend on the office space and start looking for properties based on this amount.
When looking for new office space, you can’t make a decision on your own. You’ll be employing a number of people and each of them has their own preferences, so just any property won’t do. A smart move would be to include attorneys, real estate brokers and several other members of your team in the process of reaching the decision.
If you have partners and co-founders, be sure to include them. Their opinions are valuable and they should be involved if they hold a position on the board. Moreover, invite someone from the HR department as they’ll be the middle management dealing with your employees. Finally, ask a few staff members since their approval is also crucial – ultimately, they’ll have to work in the offices you rent no matter what, but asking for their opinion is a sign of respect they’ll surely value.
The Convenience of Space
Whatever property you rent, don’t forget that it has to be accessible and user-friendly. Is your staff going to be able to reach it day after day without any problems? Will your clients find it accessible? Is it out of town or near the business district? If on a high floor of a skyscraper, does it have a working elevator that can accommodate a group of six or seven people? These are just some of the questions you have to ask before agreeing to a certain space.
Another important factor is the commute – if they have to travel for miles and miles to reach their desks every single morning, your employees might not agree with your choice of property. While everyone knows how tiring and boring long commutes are, not all people are aware that commuting actually affects your staff’s productivity in a negative way, kills their will to work and makes them inefficient. Consequently, your business suffers and your problems get bigger and bigger.
Pass the Inspection
Before even entering a commercial building, be sure to check if it has passed all the necessary inspections and assessments. An unsupervised and unchecked building is basically an unsafe property and a liability, and it’s only a matter of days until someone gets hurt or injured at work. And that’s something you definitely don’t want to happen.
Some of the things that need to be checked are the roof, structural issues, plumbing and electrical work, foundations and environmental contamination. If you’re unsure and wish to double check potential commercial property in Cairns, for example, find trustworthy experts in building inspections and ask for their opinion.
Some of the other important things you have to consider are the cost of moving to a new space, as well as future potential of the space – will it be able to accommodate more employees you want to hire in the years to come? Once you’ve settled all these issues, you’ll be ready to move into a perfect building.