Your team is smashing on sales and now that business is looking great, new responsibilities knock at your door - finding an office space is one of them. There is a good deal of variables to be careful with when looking for the right spot for your venture: location, transport, space, growth, budget among others.
We come up with a pretty much forthright checklist to use as a guide when finding an office space. We have looked at 17 of the most important factors each with a short description below each item.
If finding the right workspace is becoming too much of a challenge to handle, apart from your daily tasks. You could simply classify factors with level of importance. Write down a number from 1 to 3 depending on the level of priority. This will help you focus on your must-have office amenities.
Location
You should consider a location that is easy to access to your employees and clients. Also, take into account the types of business nearby, and check your competitors’ office area to get an idea on what you should be looking for.
Neighborhood
There are three main aspects when looking at a neighborhood:
Reputation: The best way to know a neighborhoods reputation is through word-of-mouth. If possible ask colleagues and friends what they would highlight and dislike about the area.
Infrastructure: Take a look to the current state of the buildings of the vicinity, do they look sketchy? The road infrastructure is in good or bad condition?
Neighbors: Check the type of business around the building/house, see if there is noise coming from their floors or offices.
Proximity To Points Of Interest
The average American walks around 5 miles a day - so, look for an office with restaurants, gyms and shops within a close walking distance.
During lunch or breaks, if some of your employees want to get food outside ideally a restaurant should be less than a mile from the office. It is also handy to have shops close by with relevant business supplies for your business - coffee, printable paper, staplers.
Floor Space
In order to choose the right size, there are 2 things to check:
Current amount of people working
Projected growth
While the current employee size is important to allow those employees work comfortably, it's also just as important to keep in mind future growth plans. This way you can find an office space that gives you some wiggle room as the business grows.
Interior Distribution and Design
Not every floor configuration is easy to divide and distribute efficiently. There are offices that although big, may be more difficult to accommodate people in it. Consider two floor office if you have several departments and want to get some extra privacy.
Building design
There are several aspects to see in the building design:
Lobby
Roof height
Wall paintings
Outside conditions
State of the windows and doors
Sidings and roof
Access for people with disabilities
Age of building
Older buildings have often less amenities included, reduced space and utility troubles. That said, offices in new buildings are obviously more expensive. Here, you will need to make a balance between the price of the rent and the age of the building.
Amenities Included
Some common buildings amenities are:
Rooftop/BBQ
Rooms for organized events
Elevators
Gym
There are offices located inside or connected to malls, which although increase the price, it also helps to build and establish reputation and a successful image.
Conditions Of The Utilities
Are there any problems with the electricity, internet cabling, heating or ventilation system? Check with your landlord or real estate agency if there has been any trouble with utilities lately. You could also ask neighbors or surrounding offices for further information
.
Remember that a day or an hour without internet, electricity or a good system to control the office climate, decreases productivity and therefore, revenue.
Public Transport
Commuting to work every day is a big hassle for some workers. Consider some employees may not have a car and need to take public transport. A well-located office close to different transportation infrastructure should be part of your must-have features.
Local Traffic
Traffic jams are often a excuse for people to be late at work. They also cause high level of pollution and noise, making the place less attractive for workers and clients.
Business areas characterize for high flow of cars. Before moving to the heart of a neighborhood with high flow of cars, consider the noise levels and contamination.
Security
Security is particularly important for employees leaving the office late night - as well as the early birds coming in early. High levels of insecurity make the area unattractive and affect the image of the company. Check closely the roads and routes from the office to public transport. Ask yourself, are my employees going to feel safe here?
Options Available For Renting
Depending on the area and the owners of the building, there may be different conditions to rent or lease the office. Most rental contracts are minimum yearly.
Co-working spaces have more flexibility on leasing and renting office spaces. They also offer furniture and amenities inside.
Decide whether you need to rent on long term, and if they can reduce the cost to do so.
Contract Terms
In the contract terms, you should be careful with:
Clauses to cancel the contract
Contract reassignment to third party
Responsibilities as a tenant
Obligations as a landlord
Extra charge for payment delays
Time given for an eviction
Use of amenities: parking, elevator, rooftop etc
Insurance
Liability
Legal Fees
Are there any extra expenditures you incur leasing the office? Are there any taxes that you need to be aware of? Administration costs? If that’s the case, ask for these costs upfront to make it part of your budget for rent.
Future Costs
Every year, the rent may increase depending on the taxes and the valorization of the neighborhood. Although landlords or real estates are only allowed to increase the rent once a year legally, the increment may be high enough to put you in an awkward position.
Nearby Competition
A good way to see if the area is suitable for your business is check if there are any competitors offices close by.
You could check as well the amenities in the areas of your competitors, and try to match them if you believe they add value to your business.
In Conclusion
It is good to have everything double checked before you sign that contract which is going to look you in for a period of time which may be up to 5 years depending on your rental agreement.
If you follow this checklist before making the big move then it is going to help remind you of some of the smaller and often overlooked things. If you are in Hallandale and would like to take a look at short term office rental then feel free to contact us for more information. We have meeting rooms, private offices, mail services and a virtual office membership option as well.