Renting an office space can be really daunting if you are a start-up and this is your first time. Having an office rental is different and much more complex than renting a home or car. Being a start-up, it can be extra intimidating as you don’t know where your business will be in six months. That flexibility is key for finding an office space as a start-up. Here we are going to outline five rental tips before you jump in to your first lease as a start-up.
How much office space a start-up really needs
The Need for Space
Many people with a start-up business hunt for an office space just assuming they need it. However, you may only need a workspace for your business. It’s great to have that level of professionalism in having your own office, but think about if it’s really necessary for your start-up.
The Affordability Factor
Once you know that you really do need an office space, you need to think about the cost of renting one. The key here is to get everything you need for a price you can afford. Being on top of your financial plan as a start-up is important to weather any changes that come. Opt for a lease that will suit your budget for months to come.
Choosing the right location for your office
Location, Location, Location
A great location for an office is close to public transport and to your client base. Having a good location also makes it easier for start-ups to hire top talent in the area. Have you been looking for offices to let Basingstoke? There are plenty of options for Basingstoke offices to let for start-ups.
The Amenities
Think about if you will need a kitchen, conference rooms and storage space. You need a space that helps your business and doesn’t hinder it. Only look at the spaces you know will have the amenities you need to support your start-up.
Understanding lease terms for moving in and out
Policies on Moving in and Out
Time is a fickle friend of the start-up business. You don’t want to be waiting around for a month for the space to be ready for you to move in. You also don’t want to have a lot of responsibilities when it comes time to move out. Ensure you find out what the fees are if you break the lease, and if these will be affordable for you.
Summary
Sets out five things a start-up should think through before signing its first office lease: whether it actually needs a full office rather than just workspace, what it can realistically afford long-term, choosing a location close to transport and clients, checking the space has the amenities the business needs, and understanding the fees and notice periods for moving in or out.
Questions this article raises
- How do you judge whether a shared workspace is enough instead of a full office?
- What questions should a start-up ask about break clauses before signing a lease?
- How much does location near public transport actually affect hiring for a small start-up?
