If you are running an office-based business, and your business has grown to the point where you can no longer run it out of your home, and you need space for yourself and other employees, it is time to rent office space. When it comes to renting office space, there are a few things that you need to understand the process.
Thing #1: Know What Type of Lease You Are Looking For
First, it is important to know what type of lease you are looking for. You need to determine if you are looking for a short-term office rental, or if you are looking for a long-term rental.
If you only need a short-term space for six months to a year, you may want to investigate subletting a space or using a coworking space. A real estate broker can help you find office sublets. With a sublet, you are generally taking over the lease from a business that signed up for a long-term lease but can't or doesn't want to fulfill the rest of the lease obligation.
If you want to sign a long-term lease, such as a three to five-year lease, you will have lots of options on the commercial market. It is very common to rent, instead of purchase, commercial office space.
Knowing the length of the lease you are looking for can really help narrow the field of available properties.
Thing #2: Figure Out What You Need
Second, you need to figure out what you need from an office space for rent. You may not know everything that you need from the office space as a first-time commercial office space renter, but you should have some ideas of what you want that will help narrow down your search.
For example, what general area do you want the space to be located in? How much space do you need? How do you want or need that space to be structured? How many bathrooms do you need? Do you need storage space? Do you need a warehouse or non-office workspace?
Create a list of all the features you need for a space to be worth it for you to rent for your business.
Thing #3: Get a Tenant Broker
When looking for office space to rent, you are going to want to work with a tenant broker. A tenant broker understands the commercial real estate market. They will be able to help you find space that works for your business, and they will be concerned about representing your best interests throughout the process. They will be able to provide you with the knowledge need to find a high-quality space.
If you need assistance with finding the right office space for your small business, contact a real estate agent who works with commercial office spaces and rentals. They can help guide you through the process of finding and renting the right office space that will allow your small business to grow.
