6 Things To Consider Before Renting An Office Space
What Do I Need To Know Before Renting An Office Space?
The day you decide that your business has grown sufficiently to warrant your own office space is exhilarating – you’ve worked hard to grow your baby, so take a moment and enjoy it! But, whether you need some space to work without distractions or to ensure your clients are greeted by a professional setting, you don’t want to rush out and rent the first office space that comes along.
It’s important to understand your business needs, both now and in the future. Then you’ll find that there are many workspaces that can fulfil those requirements, whether a conventional office or a more flexible coworking space. Here we’ll take a look at the things you should consider before you sign on the dotted line.
How Much Office Space Do I Need?
A common mistake is to rent a space that’s too small, just to save a few pennies. A cramped office space can have a significant impact on your productivity. While you understandably don’t want to spend money on unnecessary space, it can be a better idea to plan ahead and allow some wriggle room for your business to grow.
Traditional leases can prevent you from making any modifications to your office space. Where they are permitted, it can be expensive to make alterations to your environment, not to mention the impact on your operations while work is underway.
One cost-effective alternative is to rent a serviced office space, which can provide you with the flexibility of a short-term lease (sometimes by the month or day), so you can benefit from a workspace that’s as dynamic as your business.
How Much Does Office Space Cost To Rent?
Before you rush out to rent a shiny new office, work out how much you can afford to spend. The last thing you want to do is risk stunting your business’ growth because you’ve tied up all your cash in your office space.
Don’t forget that your premises costs will include more than just the rent. Leasing office space, particularly conventional office space, will mean that you’re responsible for all the utility bills, maintenance and repair costs, and insurance. You may also need to hire additional staff to man the reception desk, clean the site or maintain security.
If you don’t need too much space, one way to cut your costs is to co-locate with a similar business, but take care to have the terms documented carefully so you’re both fully aware of your responsibilities. Many bustling cities offer shared working spaces, like the great office spaces in London, which can not only cut your costs but also provide you with outstanding networking and collaboration opportunities.
What are the Legal Requirements For Office Space?
The Health & Safety Executive (HSE) regulates the UK’s workplace health and safety. You should check the regulations carefully to ensure your chosen office space meets basic guidelines around ventilation, temperature controls, floor area and height of the ceiling.
What Facilities Does The Office Space Provide?
You’re going to spend a considerable amount of time in your office, so you’ll want to make sure you’ve got everything you need to work comfortably. In addition to good quality, ergonomic office furniture, you’ll also want to ensure that you have access to clean toilets, an adequately equipped kitchen as well as storage facilities.
Many serviced offices provide you with everything you need to get started, which can make them a great option for start-ups. Additionally, serviced offices offer support services such as security staff, receptionists, cleaning teams and sometimes a concierge.
If you need to work outside of normal business hours, then you may want to check if your chosen office space allows you 24-hour access to the building. Sometimes overlooked in our increasingly green world, parking facilities may also be an important factor, particularly where public transport links are more limited or where you expect frequent client visits.
What Timeframe Do You Need The Office Space For?
Traditional office setups tend to require you to sign long-term leases, which can range from five to ten years. If you’re looking for more flexible timeframes or you’re not 100% sure about the type of office space you’ll need, it can be a good idea to rent a private office from a dedicated coworking space. Some coworking spaces can even be rented on an hourly or daily basis, putting you in control to size up or down as your business requirements change.
Is The Office Space In A Suitable Location?
Last but not least, you’ll need to consider your new office’s location. Where you choose to locate your business can be a determining factor in how your clients view you – the wrong location can even affect your business’ reputation.
Ideally, you’ll want to base yourself somewhere central, with excellent transport links to make it easy for both your employees and your clients to find you. Coworking spaces in Manchester, London or Glasgow are often located close to amenities like restaurants, coffee shops and banks, which your employees will no doubt appreciate.
What Next?
Now that you’ve got a better idea of what your business needs to thrive in its office space, it’s time to look at what’s available! At Spacepool, we have a comprehensive catalogue of office spaces across the UK – there’s one for every budget and team size! It’s a stress-free (and fun!) way to find your perfect office space.