As you probably know, office rent is considered to be the second highest expense that the most of businesses have which means that doing things wrong and going into the wrong direction can be devastating for your business, especially for a small business or a startup.
There is nothing to worry about as we are here to help you out. We have decided to share with you the most common mistakes businesses make when renting an office space. If you are familiar with these mistakes, you will know how to avoid them.
Here are 4 most common mistakes:
- Solely relying on listings – It is super easy to google a few office spaces in your local area or city, and check out several websites which can offer you nothing more than basic space listings. Even though listings are a good way to measure the market on a high level, the details and information provided with each listing are not only wrong and inadequate, but it is also inaccurate. This is because landlords want nothing more than for businesses and business owners to view a certain listing, check out the property, and give the agent a chance to do everything he can to convince you that you need to sign a lease as soon as possible and lock a fantastic deal. This is a huge mistake. You need to make a better research and see if the property you are looking at, is suitable for your type of business. You need to be absolutely sure that the property meets your business needs, demands, and budget.
- Impulse decisions – Leasing space for a business is a big decision. The truth is that we spend a lot of our time at our office, so it is really important to choose a suitable location, building, and office space. This decision shouldn’t be decided in one hour or day. You need to take some time, analyze, and be absolutely sure that you are making the right choice.
- Going solo – Lease complexity and lease term flexibility can vary depending on the type and size of space, however, it is never a smart idea to sign a lease for anything bigger than 2000 square feet without using a professional broker. Also, it is really important to collaborate with a reliable office space rental company that can provide you with all the information you need, so you can make a final decision.
- Not preparing enough – It is recommendable to search for an office at least 6 months before you decide to pick one for good. It is important to see different spaces and know exactly what you are looking for. Preparation always pays off and it can save the business thousands of dollars.
Renting a warehouse, retail or office space is really a big decision for any type of business and business owner. Knowing all of your workspace solutions, understanding your options, and knowing how the process goes will make every future tenant an experienced and informed consumer.
Make sure to memorize these mistakes and avoid them when looking for your next office space.