Choosing new commercial office spaces for your business can be a truly daunting task. But, having a good understanding of your office requirements and budget will put you in a good position. Leases are binding contracts, so it’s vital that you, as the tenant, consider the following criteria before making a choice.
Time Factor
This is one of the top factors when choosing office space. Consider relocating, renewing, or consolidating your current commercial office space at least 6 months before the lease expiry. For office spaces larger than 1000 square meters, you should do so even sooner.
Finding a Reputable Agent
Using the services of a reputable agent will greatly assist you in finding suitable commercial office spaces. They can assist you in understanding lease terms, and save money wherever possible.
Considering Business Goals
Does your business have growth projects during the lease period? What goals do you aim to achieve in the coming years? How do you want to innovate, or retain key staff with specialised skills? Your office space should be able to accommodate your immediate and future needs.
Do You Need the Space or Want It?
The exact amount of space you need per employee depends on the exact nature of your business and how it operates. Do your employees have positions that would normally demand individual offices for them? Does your commercial office space need a larger amount of storage than what is normally available? Consider your immediate and future business needs before committing to a space.
Keeping a Budget
Besides paying the rent, consider your other costs. You will need to consider relocation, fit out, and other costs before you can even begin operating again. Then, there will be the recurring costs on top of the rent. Think about all the costs involved when choosing office space.
Preparedness Helps
As a potential tenant, it’s important to ensure bank guarantees and to prepare the correct documentation. This way, you can move into any commercial office spaces you’ve chosen quickly and efficiently.
The Ideal Location
A “central” location is the ideal position for most office-bound businesses. Having an office near public transport, as well as other facilities for shopping, eating, and “life admin” can be of great benefit. You’ll be glad to have the convenience, and your team will also be grateful.
Existing Fit-Outs are Ideal
It’s always more expensive to fit-out a new property than to find one that has all or most of what you need already. Average costs could range anywhere from R5 000 – R20 000 per square meter on average. For most office sizes, this could equate to between 1 and 1.5 years’ worth of rent.
Accounting for Health and Mental Wellbeing
Nearby gyms and extra-mural facilities are always a plus when choosing commercial office space. But, the office itself should contribute to the wellbeing of your staff. Lots of natural light and fresh air makes a considerable difference to how well your staff function.