Real Estate Investment 101: Getting Started

Considerations As You Find An Office Space To Lease

If you are a business owner and would like to lease new office space for your organization, you may be overwhelmed by the number of available properties for lease in your area. Still, many of these spaces may not be suitable for your needs. 

Here are a few considerations as you select your new office.

Distance From Your Original Office

If you are moving from a different site, keep in mind the distance from the original space to the prospective location. The new commute can be expensive for you and your employees if the distance is significantly greater. 

Also, if your office services customers, your patrons may not want to travel to the other side of town to receive your services. Thus, finding an office in reasonable proximity to your old space may help you preserve your current clientele. Nevertheless, if your old office is in a neighborhood that has a high crime rate or is poorly kept, moving to a new area could be advantageous.

Parking

Even if the interior of the prospective office appears to meet the needs of your company, make sure that there is enough parking nearby to accommodate the vehicles of your customers and workers. Some office spaces are surrounded by buildings, forcing occupants and visitors to park blocks away. Although you may be comfortable with the long walk to the office, elderly and handicapped patrons may find the distance prohibitive.

Lease Conditions

In addition to the monthly rental amount, consider the other conditions of your lease, such as the length of the agreement, additional fees, and tenant responsibilities. If you plan to move your office location in the next six months, the length of the lease should coincide with your business plans. Likewise, if you would like to purchase the property you are planning to lease, try to secure a lease-to-own agreement in writing. Also, review any additional costs that are listed as your responsibility in the lease, such as fees for liability insurance. Additionally, make sure that your company can handle any assigned duties that you may not have had in the past, such as the maintenance of the grounds for a standalone building. 

Visibility 

If your office accepts walk-in clients, the visibility of the building can be important, especially for new customers. Look for a structure that can be easily seen from the road. 

If you are searching for an office space rental, schedule a consultation with a real estate specialist in your local area.


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