5 Questions To Ask When Looking for Office Space

The decision to lease a coworking space is a big financial one. If you are looking for office space for the first time or relocating your business, get answers to the below commercial lease questions before you sign your agreement.

When leasing space, your lease is usually for more than one year if you are going the traditional route. The monthly rent for a commercial lease an office space  is likely to be more than your mortgage, even for a small office. Furthermore, if you have to leave because your business closes or you outgrow the space, you will still be responsible for rent payments.

For this reason, before signing a commercial lease, you should evaluate the location, the building, and the lease terms. Listed below are some questions to ask when leasing office space.

What to Ask When Renting: Is Your Company Building for the Future?

Renting office space costs include many options. It may require you to sign a lease and pay the rent for a period of 3-5 years, or possibly even a 10 year lease, depending on your location. You could easily outgrow a space before your lease is up if you choose a space based on how many employees you think you'll have a year from now.

A more flexible solution would be to look into a coworking space. By choosing a coworking, you will not be locked down into a 3-5 year lease. At most coworking spaces, the terms range from month-to-month, 6 months or 12 month leases. This gives you a sense of flexibility and security that you will have the option to expand or even downgrade as your business needs evolve.

Is the Location Safe?

Quality talent deserves quality space to work in. It is important to find office space for lease before making a final decision to ensure that the building is in a safe part of town, near a spot that is attractive to the eye and provides ease of access for clients and employees.

Does the Office Space Fit Your Business And Equipment Needs?

In today's modern world it is important to make sure the building you lease an office space in is up to speed (literally!). You don't want a breaker going out during a very important Zoom meeting because people are using the coffee machine, printer and shredder at the same time.

Overhead office space rental prices to ensure this type of speed and functionality can create a huge additional cost on top of your already expensive lease. A safer option is to join a coworking space, which typically take on these overhead renting office space costs for you and in most cases even provide their own IT team to come to rescue when an inevitable internet issue occurs. Not only could this be the cheaper option, but it is the stress free option as well!

What’s Included in the Lease?

It's rare that you pay just the monthly rent for a traditional office space. As part of your agreement, find out which expenses are included and which are not.

How much will your utilities cost? Will you have to pay for additional services like janitorial, maintenance or any other common area fees during leasing an office space? There are many questions to ask when leasing commercial space. It’s best to get ahead of the game so you aren't taken by surprise after you sign a multi year leasing contract.

On the other hand, joining a shared space such as CityCentral provides all of the above aspects and more are included in your agreement when you lease an office space. The only extra costs you may see are copier charges and meeting room hour costs. A shared space also highly focuses on community and helping each business succeed by providing their own resources and network.

Is There Enough Parking?

When you're looking for office space, parking is an easy question to overlook, but it is probably the most important. If you host large meetings or meet with clients regularly, it is important to ensure that they can easily access your space.

The best way to tell: Check out the parking lot on different days and different times of the day.

Use These Renting Office Space Tips, And Find Your Perfect Spot!

Traditional businesses lease an office space for typically longer in length and are more complicated than flexible/shared space leases. Make sure that your business plan fits your long-term objectives if you decide to go the traditional route. Since few companies know where they will be 3-5 years from now, starting with a more flexible/coworking lease can relieve you of that uncertainty.

To learn more about shared space and if it is right for you, visit citycentral.com or call 214.292.7951 to schedule a tour!