One of the hardest parts of establishing a business is finding the perfect location. For many startups and smaller businesses, executive office space can be a costly investment. That's why many business owners opt to rent or lease their office space at first. If you're exploring the possibility of renting office space for your business, there are a few things that you should know. Here's a look at a few things to consider as you evaluate your office space options.
What Does Your Monthly Cost Include?
Business rental agreements vary widely in terms of what those rental fees include for the tenant. In order for you to adequately compare the office space options that you are considering, you need to understand exactly what each rental agreement includes in your monthly expense.
For example, some rental contracts will include utilities while others will not. Additionally, some might provide commercial dumpster services, parking lot maintenance, snow removal, and more. Ask about the included services so that you can accurately compare the rental agreements to find the one that's the best fit for you.
Can The Building Be Renovated?
Some commercial office space rentals come with setup and renovation fees as part of the deposit. These fees usually cover the initial customization of the space to suit your business operation as well as the costs to establish any electrical or network wiring and infrastructure. Find out if there are any customization and setup fees and whether or not the office space can be renovated to fit your business needs.
Is There A Termination Cost?
For many commercial property owners, the period of cleaning and preparing a space between renters is the most costly and disruptive. As a result, many property owners will include a rental termination fee as part of their contract.
This fee will be levied if you decide not to extend your rental agreement at renewal time. Any security deposit paid at the beginning of the contract does not apply to this fee, so you'll need to budget accordingly.
The right office space rental can really make or break your business operation. When you're looking to establish your business in a respectable commercial space, you need to be sure that you're choosing the right service. These are some of the many things you'll need to think about when you're evaluating office space rental agreements and leases. Talk with a local office space rental company near you for more information about executive office space for rent.