Leasing office space is a wise move for business owners to make. With that said, there are certain times when the company leasing office space makes an error when it comes to leasing office space in a building or rental space. Here are the top 10 mistakes which companies make when leasing office space:
Leasing Office Space Which Is Too Small
One big mistake which some companies make when they lease office space is to choose an office which is too small to accommodate their business and employees. It is extremely important to consider how large of an office you need to lease and stick with that figure when looking at and extremely leasing offices.
Leasing an Office That Is Too Big
It is also not advisable to lease an office which is too big for your company. Renting an overly large space can be a costly mistake. Not only will your company pay more for the rent but it will also cost more with regard to the utilities being paid on a monthly basis. An office which is too large can be burdensome to the business owner and the employees.
Obtaining an Office Lease Which Is Outside of Their Financial Means
It is easy at times to get off track and become smitten with an office which is simply not within the financial means of the company. This can be a costly error and put the business owner in a financial crunch when it comes time for the monthly commercial lease payments. Always know what is within your budget and what is not shopping around for a space to lease.
Choosing an Office That Is In an Inconvenient Location
Business owners who rent space should always choose an office which is in a convenient location. This refers not only to public transportation but also relates to the surrounding businesses and population. The space should be close to other commercial businesses and be in a spot which is sure to attract the usual clients in addition to those who simply are in the neighborhood and happen across the business.
Not Choosing the Office with the Right Amenities
Another mistake which companies sometimes make regarding leasing office space is to choose an office which does not have the right amenities. For example, a business that has 50+ employees should not choose a space location where there is only one bathroom. Looking into the amenities before leasing is important to ensure that the space has all the right amenities included.
Obtaining an Office Lease That Is Restrictive In Its Terms
Commercial leases have a tendency to be strict in some of their terms. However, companies will often find that some leases are more restrictive than other ones are. Always review the lease thoroughly to make sure that you are agreeable to all of the terms as once you sign it you are bound by the terms and must adhere to them through the duration of the lease.
Choosing an Office Too Quickly
Some companies may jump into leasing space too quickly. The business owner may think that the space may get leased to another or they may be so eager to find an office location that they sign the lease and find out later that it may not be the best choice. Therefore, it is important to shop around and not jump into leasing space without thinking it through and making sure that the space varies the best of the bunch.
Selecting an Office to Lease Where Parking Is Not Readily Available
An additional mistake which companies may make when leasing office space is to choose one where parking is not readily available. Although this is not a deal breaker for all companies by any means, it can be a bit cumbersome for those companies which see a lot of customer traffic and need ample parking for their customers.
Choosing an Office to Lease That Is Non-Conforming with One's Business
It is important to make sure that the office space a company chooses to lease will be conforming to their business. Some companies may choose a business location which is not suitable for their business and find themselves in a tough spot when they move in and acknowledge this fact too late.
Not Reading the Fine Print on the Office Space Lease
Lastly, company officials and business owners can make the mistake of not reading the fine print on their office space lease. There may be certain terms which restrict their business in some way and make the leased awards less than perfect for the needs of the company.
By having an idea as to the top 10 mistakes which companies make when leasing office space, business owners can make sure that when the time comes to lease commercial office space they take all measures necessary to avoid making these mistakes in their next business leasing transaction.