It is agreeable that choosing an office space to move into is an overwhelming decision. In general, you have different options like a sublease, a direct lease, a shared office space, etc. Along with different lease options, you also have a number of factors to take note of or consider when you are choosing an office space. With so much to think about, what can be left confused and not knowing how to make the right decision when choosing an office space.
Chances are your list of potential office spaces to move into have too many options and you don’t know how to narrow it down. Well to help you with that, we are going to talk about how you can narrow down your choices in choosing an office space.
1.) Budget – Before you can begin to cross of some choices, you will have to create a proper budget in which you will use so as to have proper financing for the office space. Having a budget will help you properly track the cost and expenses in the office space preventing you from encountering any financial problem.
It is very important that you are strict with your budget and never go over it. Doing so can be problematic for your company. Now when you are able to set aside the proper budget, you can take a look at the different choices you have and begin removing the choices that aren’t within your budget.
2.) Lease – Next, you should look into the different leases among your office space choices. Based on time, you can get a long term lease or a short term lease. Long term leases can go as long as five to seven years while there are short term leases that last only three years. If you think that you are not yet capable of handling a long term lease or you see the company expanding and moving into a new office in a short amount of time, then I suggest you go for a short term lease. On the other hand, if you wish to stay in the chosen office space for some time, then go for a long term lease.
Another with office space leases is that you can choose to go for a direct lease, a sublease, or even go for a shared office space. Now when you go for a direct lease, the negotiations of the lease are in your hands and you will shoulder all of the cost. With a sublease, you are just renting a certain area of an office space from the company that is shouldering the direct lease. On the other hand, a shared office space is where the direct lease is being shouldered by two different companies that are planning to share the area.
3.) Needs – Finally, you should take a look which among the choices that are left are able to satisfy the needs of your company. Is there room for your company to grow? Does it provide the optimal environment for your employees and things like that?