3 Important Factors to Consider When Renting Office Space

Empty loft room with white walls, city view and concrete floor 3D RenderWhether you’re establishing a new business in a leased space or planning on moving from a home office to a bigger, more professional work environment, renting your first office is a huge decision. It requires careful planning to maximize the opportunities that dedicated office space provides.

It really isn’t that difficult to find a secure office space in Singapore. However, several factors need to be taken into account before signing up for anything. If you’re thinking of a long-term lease, make sure you have enough space to comfortably fit all your employees, equipment and facilities for daily operations. Here are some things to consider before moving:

Budget

Of course, before beginning to look for potential office space, the budget is a big deciding factor. Evaluate your finances early on and create a budget to suit your business’ purse. After you’ve established your price range, you’ll have an easier time browsing through your options.

Location and Accessibility

Perhaps the most significant factor in your office space hunt is the location. Look for a spot that allows for a reasonable commute for your staff and easy access for your clients. A strategically located office will attract more customers and help potential hires in finding your business.

Size

Find a space that can accommodate your existing needs and leave room for potential growth. During your negotiation with the renter, bring up the likelihood of expansion, and if they have options that can be included in the agreement.

Every lease is different, that’s why it’s important to consult your landlord or lady about their terms. Some providers offer flexible payment terms; others don’t even require any up-front capital expenditure.

Moving to a new environment gives your company a chance to flourish and become more productive. Planning where to move will maximize the benefits.