So, you've got a great business and now you need a great office to go with it. Look no further than our handy guide to give you some ideas of what to consider when hunting for your perfect office. It's vital to give some thought to location as this can affect people's opinions of your business. For example, if you're based in an area that's notorious for crime, people might be put off. Also, by focusing on central or popular areas, you may miss great deals available in other locations.
Once you've got a location in mind, think about the length of time you'll be looking to use the office for. You need to know what will happen to it if you leave - will someone else assume responsibility for the premises or will a new location be needed? Also bear in mind the length of your contract - you don't want to end up looking to leave after 3 years if you have a 5-year contract as often these are hard to get out of.
You should also think carefully about what you actually need. Tempting as it can be to go for a big, spacious office, you might be able to save a lot of money on both rent and utility bills by being a bit more modest. You should also consider whether you might want to sublease any spare space to other companies, or if you could maybe sublease someone else's space. This can be a good option for small businesses or if you want a short term contract.
Don't forget the big question - rent or buy? If you rent, you'll probably have a fixed monthly price whereas mortgage rates often vary from month to month. If you own the office, though, you can do what you want with it, whereas if you rent your ability to redecorate or change the space will be severely limited. Also think about responsibility - if you buy, you're responsible for the office if anything goes wrong. If you rent, unless you're deliberately negligent, most things will be the landlord's responsibility.
Finally, think about the services that are offered at your chosen office. Are you happy to just rent the space itself? Or would you like an office that offers services to its tenants? Lots of offices offer cleaning and maintenance services, which can bump up the price a bit but give you peace of mind as you won't have to worry about them. Whatever you decide, make sure you give some thought to your chosen office to make sure you get the deal that's right for you.
Once you've got a location in mind, think about the length of time you'll be looking to use the office for. You need to know what will happen to it if you leave - will someone else assume responsibility for the premises or will a new location be needed? Also bear in mind the length of your contract - you don't want to end up looking to leave after 3 years if you have a 5-year contract as often these are hard to get out of.
You should also think carefully about what you actually need. Tempting as it can be to go for a big, spacious office, you might be able to save a lot of money on both rent and utility bills by being a bit more modest. You should also consider whether you might want to sublease any spare space to other companies, or if you could maybe sublease someone else's space. This can be a good option for small businesses or if you want a short term contract.
Don't forget the big question - rent or buy? If you rent, you'll probably have a fixed monthly price whereas mortgage rates often vary from month to month. If you own the office, though, you can do what you want with it, whereas if you rent your ability to redecorate or change the space will be severely limited. Also think about responsibility - if you buy, you're responsible for the office if anything goes wrong. If you rent, unless you're deliberately negligent, most things will be the landlord's responsibility.
Finally, think about the services that are offered at your chosen office. Are you happy to just rent the space itself? Or would you like an office that offers services to its tenants? Lots of offices offer cleaning and maintenance services, which can bump up the price a bit but give you peace of mind as you won't have to worry about them. Whatever you decide, make sure you give some thought to your chosen office to make sure you get the deal that's right for you.
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