When looking for a small office space to rent, consider the location and overall cost of the property rental, says the Entrepreneur. Negotiate for better rental terms, and read over the lease contract to understand rental terms before leasing a property, suggests the U.S. Small Business Association.Continue Reading
Choose a rental location convenient for customers and employees. Finding an accessible office allows clients to patronize a business and prevents employee turnover that would occur if workers had to contend with a long, expensive commute, according to the Entrepreneur.
Consider negotiating for a cap on future rent increases, suggests Bankrate. While some landlords may not lower rent, they may be willing to make concessions, such as subsidising renovations, which can help reduce your rental rate. Add-on clauses such as a sublease or co-tenancy can help protect a business if the long-term strategy changes, says the U.S. Small Business Association.
Evaluate the full cost of renting a small office, which includes construction costs and moving expenses, to figure out the total outlay, suggests the Entrepreneur. Enlisting the help of a broker provides an understanding of the market and the nuances that shape rental contracts. Peruse the lease agreement, or involve a commercial real estate attorney who can help clarify complex lease terms, recommends the U.S. Small Business Association.Learn more about Real Estate