Office hunting is always an exciting place until we find out some cold hard facts about the current state of the real estate market. Small businesses can no longer find traditional office spaces that are suited for their professional objectives or their budgetary limitations. That’s why alternatives such as taking up an office space for lease on a short-term basis are so popular amongst smaller businesses.
However, selecting these cost-effective office spaces can also be a challenging affair. From making sure that the location of the office is correct to ensure that the workspace has enough amenities to help the workforce thrive – there are plenty of considerations that office administrators need to make during their pursuit for suitable office spaces.
Here’s a brief guide on selecting the perfect office -
Preparing Yourself
As an office administrator, you need to be prepared to navigate through the office space market. To do so, you must -
Learn about leasing terminologies so that you can understand what terms different property management companies are offering.
Take three to four months to research the market. Waiting until the last minute to go through the office space market almost always leads to disastrous deals.
Understand the true cost of different types of office leases.
Physically visit the office spaces being offered.
The location of the office space should preferably be near the commercial districts.
Office admins shouldn’t be taking all of these steps on their own. They must discuss potential locations and office spaces with their staff members and business partners as well.
Costs and Transparency
If you’re getting office space for lease from a fair and transparent provider, your bills will indicate that. Providers of office spaces offer strategic prices. These price offerings are almost always slightly better than what the traditional office space market has to offer.
This price difference makes many office admins jump on the first office space provider that comes their way. However, while assessing the true cost of office space, office admins must consider other factors such as –
How the deal offered by the office space providers impacts the net income of the business.
Whether the new office space comes with basic amenities like internet connectivity. Without a reliable and stable internet connection, it’s impossible to prevent hindrances inside the workspace.
Office spaces with efficient layouts and designs cost more. That’s because the interior design of a workspace directly impacts employee productivity and satisfaction levels. If the office space isn’t suited to the company culture, it’s better to avoid the long-term costs that such an issue could create.
The office layout must suit the number of employees in the workforce. Other factors such as air quality, noise, ventilation, etc., also need to be perfect so that maintenance requirements don’t keep propping up a few months after making the move.
Before signing the lease, office admins must learn about how they can terminate their lease. Having an exit strategy in case the office space doesn’t meet business objectives, in the long run, is vital.
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