The Top 5 Most Important Factors When Leasing Office Space
The Top 5 Most Important Factors When Leasing Office Space
The Top 5 Most Important Factors When Leasing Office Space

Your company is growing and it’s time to begin the search for a new office space.  This can be an exciting, yet daunting at the same time.  There are so many questions to ask yourself to make sure that you end up in the ideal space.  It’s not nearly as simple or quick as it may initially sound.  Here is a short reference guide on the most important factors you will need to consider.

1. Location

Its been said from time to time…location, location, location.  When considering any type of real estate, the location is the key to success, and office space is no exception.  One of the top priorities to consider when scouting for a location is the commute for your employees.  Your proximity to your employee’s homes could greatly affect how much of your existing company moves with you. Its therefore advisable to try and pick a location that is centralized to their locations.  Sometimes it can be helpful to survey your company and ask employees how far they would be willing to commute.  Also, notice the distance to public transportation.  Remember that many of your employees may rely on this as a way to get to work.  Your location will also affect commute time for your customers. If your business draws clientèle into the actual office space, consider this as well.

2. Size of the Space

Leasing Office SpaceLooking to transfer into a new office space? There’s a good chance that your company has outgrown its original location.  Moving is a tedious undertaking. Make sure that this is the last time you have to do it for a while by getting clear on where your company is headed.  Office space is not just about having enough space to house all of your desks and furniture, but also enough room to accommodate your employees and customers comfortably.  If you foresee that the company may continue to grow, estimate how many more employees you intend to hire and over what length of time.  Industry standards suggest that you should factor in an average of 125 square feet per employee to maintain a workable atmosphere.

3. Surrounding Environment

During the search, it is important to survey the area surrounding the building.  Check to make sure that there is ample parking available to accommodate your employees and clients.  If it is paid parking, take into consideration the costs that this might incur for your employees and your willingness to absorb those costs.  Is the building within walking distance to restaurants, cafes, or parks where your employees can get their meals or take breaks?  Access to green space, in particular, is said to boost morale and keep an office running efficiently.  The exterior of the building also needs to be compatible with the image of your brand.  If you are a modern company, you won’t want to settle into a Historic district or a run-down building.

4. Cost

Obviously the cost will be a huge factor when you are choosing a new office space, but remember that cost does not just pertain to the monthly rental expenses.  Go through the lease carefully to determine what other expenses will be associated with the property. Look for damages that would result in big price tags for your company down the line.  Always factor in a little bit more money than you think you will need so that you are prepared should any unforeseen expenses show up later.

5. Building Management

Finally, when searching for office space, make sure that you are clear on the policies and procedures associated with the management company.  Will there be a manager on-site?  Do they cover the costs of general maintenance and/or cleaning?  Are there late fees for rent not paid on time?  What are the options regarding lease extensions?  Sit down with the management company to address any policies that don’t feel right and remember that there is always room for negotiation.

Looking for Office Space in Hattiesburg?

SVN | Southgate Realty is committed to helping you locate the perfect space that matches the needs of your business.  We will work hard to walk you through the leasing process in an easy and efficient manner and won’t stop until you are totally satisfied.  With so many properties for rent, start with an expert by your side.  Check out all of our properties today and give us a call to get started!

 

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