Choosing a new office for your business is an exceptionally important milestone.
Significant resources are invested in finding a suitable and convenient location – one that reflects the values of your business, represents you well in front of your clients, and provides a pleasant and productive environment for your team.
We have gathered for you several key considerations to keep in mind before making your decision.
Location
The right location is a crucial factor when choosing your new office.
First and foremost, make sure your team can easily get to the office in the morning and leave in the evening – nobody likes to waste long hours commuting.
Try to ensure that the office is located in a pleasant area that offers complementary services such as restaurants and cafés.
Also keep in mind that if you intend to host clients in your office, the location becomes even more important.
Many businesses that chose a location that was difficult for clients to reach have reported a decline in activity as a result.
Size
A clear understanding of the size of the space you need is a key consideration when choosing an office.
Do you want to take a larger space and sublet part of it, or rent only what is necessary for your team?
Is there an option to make adjustments to the layout for a perfect fit?
Are you planning to expand in the near future?
Remember, this decision has a direct impact on your expenses – both in the immediate term and in the long run.
Standards and Finishes
Take a moment to think about the facilities that matter most to you in your new office.
Do you want a private kitchenette? Improved acoustics? Wooden flooring? Private offices, or perhaps an open co‑working space? A conference room that is exclusively yours?
What is your own standard, and what standard are your clients accustomed to?
Property Management and Maintenance
Keep in mind that the ongoing maintenance of your workspace is far more demanding than that of a residential apartment.
Your team and clients generate a high level of traffic and presence, which naturally leads to a constant need for maintenance as part of the package.
In office buildings, there is usually a management company responsible for these matters – make sure to find out how available they are and how quickly they respond to common issues.
Flexibility
Imagine a completely normal situation where you need to expand your team, but your current office cannot accommodate the additional staff.
Does the new building you are considering offer suitable alternatives?
After all, a new office is supposed to serve as your base for years to come, and if the need arises, it’s much better to move to another floor in the same building than to relocate your entire office elsewhere.
Management companies in modern office buildings often allow you to customize the offered space according to your specific requirements.
For example: your team currently needs six workstations, but you would like to create eight in anticipation of future growth.
Your conference room needs to accommodate up to 20 people during team meetings, and you want it to be a specific size.
Make sure there is flexibility in how the space can be divided and find out what costs are involved.
Parking
Parking is an extremely important factor in our small country.
Dedicated parking spots within the building can be costly – determine how many you need to reserve and include this in your expense planning.
At the same time, review the surrounding area and make sure there are parking lots within a reasonable distance for both your team and your clients.
And speaking of parking – nowadays, scooters and electric bicycles also need to be taken into account, and in most modern office buildings, special areas are allocated for them as well.
Patience
We strongly recommend viewing more than one office space before making your decision.
First and foremost, this will help you better understand the options available in the market and what is being offered.
Levels of service and maintenance vary from building to building, as do the other issues we’ve mentioned in this brief guide.
Take a deep breath and make a well-considered decision based on your needs and relevance.
Real Estate Brokerage
Brokerage is a particularly sensitive issue.
By default, most of us prefer to avoid paying brokerage fees and save that money for other expenses related to moving to a new office.
But wait a moment… turning to a professional broker can save you a significant amount of money down the road.
They are well acquainted with standard lease agreements (we’ll get to that shortly) and know how to match you with an office that suits your requirements.
Additionally, they have excellent knowledge of the area and can present you with multiple options in your chosen location, helping you make a wise and balanced decision.
Remember, this is their livelihood, so they are motivated to close the deal, which can greatly assist you in negotiating the requested rent.
There are many advantages worth considering before you set out on this journey.
Contract
We saved the best for last.
Now is the time to roll up your sleeves and dive in – every detail matters here, and knowing the material can definitely save you real headaches.
What is the lease term specified in the contract?
Does it include an option for an extension, and how far in advance must you notify before exercising it?
After all, your office is the face of your business, so you’ll want to stay there as long as you need.
Along those lines, how early must you give notice for early termination, and what are the financial implications?
Is there an additional fee for late departure?
Okay, moving on.
Is the rent linked to an index?
Into how many installments can you split the rent payments?
According to the contract, in what condition must the property be left after vacating?
And what about guarantees and insurance?
Our strong recommendation is to seek legal counsel before signing any contract.
While it is an expense, renting an office involves many subtle nuances, and all details need to be thoroughly covered to avoid unpleasant surprises down the line.
In summary, finding the right office requires patience and thorough research.
The deeper you delve into the subject, the better your chances of finding an office that suits you — both in terms of location and appearance, as well as associated conditions.
Take the time to consider the issues mentioned above, meet with the property owner, and make a good impression on them — and let them also get to know you.
Good luck.