Are you looking for a new office space for your business? Then you have a daunting task ahead
of you. Where to look? How to know whether a particular space is the one? What is the right
price? Which is the right location? The considerations are unending.
If you think you need a new office space, make it your business to understand these six simple
steps. These will guide you in finding the perfect space for your organisation.
1. Determine Your Immediate Need for a New Office
First, evaluate the actual need for a new or more space. Ask yourself:
- Has my business expansion plans outgrown the current space?
- Do I need to relocate to a different area? If so, why
- Is something about my office environment or set-up a hindrance to growth?
- Are there issues with the current rent or the building’s terms and rules?
- If you are looking to move — do I have the budget for it?
- Lastly, can the necessary improvements be made within the current space?
Once you have these figured out, you will have a better grip over the wheres and the hows.
2. Assess Your Fresh Requirements and Expectations
You need to define the needs of your business and that of your employees and co-workers, the space, the amenities, the location, the budget, and the class of office space required (class determines the quality of amenities, location, age of the office building, etc). Also, estimate your parking requirements, your office layout, and take into account your company’s future growth and create a checklist.
Take your partners’, clients’, and employees’ opinion before you take a decision. Send out emails by asking them for pointers on:
- Best location.
- Preferred office layout — open set-up, cubicles or more private offices.
- Personal storage options.
- Self-contained office or co-working spaces.
- Business and non-business oriented facilities.
- What’s lacking in the current space?
3. Browse Offices Online or Consult a Real Estate Agent
Before you can narrow down on the perfect space, you need to start looking six months ahead of the move and make a shortlist of properties you may like. The moment you start thinking about a move or when you can afford it is the right time to start doing your research. You can also get a real estate broker to help you browse through options. It saves both, time and effort. Make sure you do the necessary legwork to assess the properties yourself. Also, take into consideration that the agents represent the landlords and not the tenants. So, you need to ensure you get the best deal.
4. Process of Selection
When you visit your shortlisted properties, you need to compare them with your checklist (that you have already created). On your tours, you have to look around and enquire about all the details mentioned in their advertisements. You need to have all the information right before you sign over the dotted line. Inquire on:
- The date when the space will be available.
- Charges included in rent.
- Cost of lobby, meeting spaces, elevators, restrooms, and whether they are included in rent.
- In case of issues, whom to contact and what is the response time?
- Is the rented space accessible throughout the day. If not, what is the time period?
- Details on facilities provided by the owner such as age, efficiency, usability, durability, etc.
- Nearby amenities.
- Ambience and environment.
Once you’ve selected the closest-thing-to-perfect kind of property, select a second or even a third best suited office as backup. This will help you negotiate better and also keep your options open.
5. Talk to Peers and Compare Your Shortlist with Them
Consult your peers who have recently rented office spaces. This article alone can’t help you the way they can in gauging the current market scenario. Your network can help you with recommendations on location, brokers to choose, and a practical insight into the process.
6. Finally, Move In
Once the papers are all signed and ready, you can move into your new office space. If you are moving into a serviced office or a co-working space, there isn’t much you need to do before you move in; you are all set.
But, if the office is an unfurnished one, your agent can help you find the right carpenter, plumber, or even interior decorator to get you all set up.