Many small business owners start their companies from the relatively inexpensive confines of home. For this reason, taking the step of renting an office space for the first time can be a daunting undertaking. However, getting out of the familiarity and distractions of the home front into a dedicated rental space provides a great productivity boost. Here are some tips to help you accomplish this.

Consider Your Needs

First of all, think about what you need in the way of rental space. It is important to figure in how many employees you plan to hire, their ages, and their inclinations. Older personnel may prefer separate offices, while younger staff may be happy with a collaborative open office concept. You’ll also need to consider whether you require extra rooms such as a break room and a meeting room. If your workforce is small, you may be able to get away with leasing a coworking space where the furniture, Wi-Fi, and other amenities are already provided.

Find the Proper Location

Offices in city centers are conveniently located to make commuting easy, and there are usually gyms, bars, restaurants, and shopping outlets nearby. However, parking and traffic congestion cause difficulties and rental space in these areas is expensive. Alternatively, locating in a suburb or smaller city nearby cuts costs considerably and may be convenient enough to suit you and your personnel.

Budget for Extra Costs

Besides the rental cost, be sure to consider the numerous other expenses for your office space. Find out whether the lease includes utilities, security, parking, and the upkeep of common areas. Remember that you will need to obtain furniture, office equipment, and supplies. It will also be necessary to decorate your new office, add your company name and logo to the door, and put its address on printed material such as brochures.

Analyze the Terms of the Lease

A longer lease will likely provide the benefit of lower monthly rent, but be sure to consider your future goals. If you have ambitious plans for growth and expansion, your initial rental space may be inadequate in the long term. Before you sign the lease, be sure there is a provision for an early exit.

For more advice on obtaining business rental space, contact Increase Lending.