The Why, What, and How of Renting an Office

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Whether you are established or just starting out, having an office space is an important step for growing your business. Renting a local commercial property may be just the ticket you’ve been looking for. There are many advantages to having a designated workspace, so learn what to look for and how to find one.

Why Rent an Office?

Discovering all the perks of renting an office will have you heading over to Paguro to see what’s available. You, your business, and your clients will benefit immensely. 

Professionalism

Having a brick-and-mortar office makes your company look more professional. It can serve as a location to meet and greet clients as well as showcase what your business offers. Customers are more likely to work with a company that they’ve visited in person and feel is legitimate.

Growth

Renting an office can accommodate your business’s growth and encourage it. If you’ve been working from home, it might not take much to outgrow your workspace. Leasing an office allows you to easily upgrade square footage when needed. If you select a prime location, you can also enjoy walk-in customers. 

Focus

Working in a shared space or at home can be distracting. For example, noise, outside activity, and personal obligations can all disrupt your focus. Having your own office can help you maintain higher productivity.

Organization

A successful business should be well-organized. Moreover, if you’re currently working in a limited or multi-use space, it can be difficult to keep things in order. Renting an office will allow you to create a designated space for all your work needs and prevent others from interfering with your belongings. 

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What Should You Look For in an Office?

Now that you know why you should have an office, take some time to learn what to look for in your potential office space. 

Cost

Look for a rental with a fair price. If you aren’t sure what the going price in your city is, do a little research to verify you’re paying market value or below. While your office may help your business grow, make sure your monthly payments fit comfortably within your current budget, not a projected future budget. Also, watch out for deposits and hidden fees.

Location

Location can make or break a business. You may not care if you are only renting a workspace, but be mindful if you will be entertaining customers onsite. Consider where your competition is located, how much walk-in traffic you want, and where your target audience frequents.

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Restrictions

Think carefully about how you will be using your office, and then check for restrictions before renting. You may find some offices may have rules like only allowing access during regular business hours, prohibiting animals, restricting large groups, limiting noise levels, or banning certain activities. Verify your intended use is compatible with any restrictions.

Accessibility

Office accessibility should also match your needs. Is the building secure yet available after hours? What is the parking situation? Take a look at staircases, elevators, and bathrooms. Make sure it’s convenient for you and your clients.

How Do You Rent an Office?

Once you know why and what you’re looking for, you may be wondering the best way to find the perfect office.

Browse

Take your time browsing available options before you make your decision. You should compare and contrast several listings. You can find listings online, through a commercial Realtor, or by calling storefront advertisements.

Clarify Terms

Speak with a leasing representative before signing any renting contracts. You want to be 100% clear on the terms of your agreement. Make sure to ask about deposits, monthly fees, length of the contract, defaults, and penalties.

Visit

It is a good idea to visit a property in person before signing a lease. Furthermore, make sure that the building matches your expectations, and view the surroundings. Also, consider if the nearby businesses fit with yours and that the neighborhood is acceptable.

Sign Documents

Once you locate the right office for rent, it is time to sign documents. You should read carefully through the lease and consider having an attorney take a look. Keep yourself protected by watching for unexpected terms and never agreeing to a verbal lease.

So, now you know why to rent an office, what to look for, and how to secure one. Your business can take the next step to success.

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