Checklist for Renting an Office
Whether it’s your first time renting office space, or you need a gentle reminder of all the things that you need to consider before taking on a new lease, this Checklist will provide you with some of the important things that you need to think about when renting office space.
Monthly Rental Payment
Determine your moving budget using this handy spreadsheet. This should incorporate your rental payment that you are able to commit to each month, as well as overall operational costs including service charge and business rates.
Size of Office Space
Unsure as to how much office space you’re going to need? Use this simple Office Space Calculator to find out the total amount of square feet you need based on the number of employees and additional facilities.
Office Space Requirements
Make a list of all the facilities you are going to need in the new space, including number and size of meeting rooms, kitchen facilities, parking, as well as the style of the building. Use the Office Space Checklist to help you consider all the important issues, and prioritise each of them according to the needs of your business.
Market Rental Values
You will need a clear indication of what you might expect to pay for rents (including service charge and business rates) in your location. This will help with your negotiations and allow you to assess each property against recent deals that have been achieved locally in your area. Ask your commercial property agent to provide you with a breakdown of what office transactions have recently been achieved in your area.
Leasing Requirements
Consider how long you would ideally like to rent the property for. Shorter office leases provide greater flexibility but may prove to be more costly than a longer lease of 5 years +.
Additional Leasing Costs
It’s important to clarify with the landlord all the costs associated with the lease, including fit-out, repairs and maintenance so you can factor these into your overall moving costs. Discuss all the above items with your Commercial Property Agent to make sure they are achievable and find out whether there are enough properties available to meet your criteria.
Download the free Office Space Checklist here for all full list of things you need to consider when renting office space.
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