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What You Need to Know Before Renting a Business Space

Are you a business owner looking to rent an office for your company? Whether you need a smaller space for just yourself or a big open-concept office to fit all your employees, office hunting can be challenging.

Luckily, if you know what to look for, you can make this process fun and easy. Whether you need a specific location or specific square footage, the perfect office is a decision away.

Ready to find the business space of your dreams? Read on what you need to look for in a rented office and what to avoid.

Compare Rent Prices and Terms

Rent is an essential part of your business budget so finding an affordable space is important for your expenses. There’s no need to pay a huge rent in a central location if you’re a freelancer or are just starting out and don’t turn enough profit yet.

To make sure you’re on top of your commercial property lease, consider getting lease audit services. A lease audit will help you save money and find and remedy any unfavorable changes made on your lease.

Building Maintenance or Triple Net

Triple Net Lease means taxes, insurance, and common area maintenance. Before you rent a space, you should set aside extra money for this expense.

This amount is for maintaining common areas such as elevators, landscape, and parking lots, as well as taxes and insurance. Also, ask if you’ll be responsible for general maintenance or the landlord.

Research Zoning Laws

In most office buildings, every commercial space should have a special purpose that must be compliant with local zoning laws. However, some landlords try to rent retail space that’s not compliant and you can get into a lot of trouble if you don’t double-check.

For example, you want to open a coffee shop but the space is not compliant with zoning laws. Before signing an agreement, talk to the landlord and ask to see their permits to make sure the space is compatible with your business type. Otherwise, you risk hefty fines or closing of your business, the expenses of which you’ll need to pay in full.

Read and Re-Read Your Lease Agreement

The lease agreement for your rental property is the document that’ll protect you and the landlord from a lot of legal issues. However, before you sign anything, make sure to read and re-read each and every sentence until you’re 100% clear of what’s in the contract. If needed, hire an attorney to help you understand it and ask for changes if you feel like some terms are not to your standards.

These Tips Will Help You Find the Perfect Business Space for You

Whether you have a small startup or are a solopreneur and work for yourself, these tips will help you find the best business space for your company’s needs. From scoring a great deal on rent to finding the best location, your business space is a reflection of your business vision.

Want more work and business tips? Check out some of the other articles we’ve written on these topics and stick around for more of the latest industry news and updates.