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Help Finding Small Office Space For Rent

Help Finding Small Office Space 

Today's Tenant Rep Tuesday Tip topic: Help Finding Small Office Space For Rent + How to Find & Lease Small Office Space

The process of leasing office space for small businesses can sometimes be daunting however we have outlined 5 steps on how to find and lease the best space possible.

Step : Estimate Your Office Space Budget

You need to know how much monthly rent you are able to afford. Calculating your monthly rental amount is as simple as rentable square footage (RSF) X rental rate ÷ 12 months. Knowing how much you can afford will help you narrow down your office options a lot faster and keep you from paying for more than you can afford. 

Step : Determine How Much Office Space You Need

Knowing how much office space your company needs is also key to narrowing down your search. Make sure you plan according to your current and future needs.  If you think you will hire new employees in the next year or two then factor those space needs into your calculation.  If you plan on downsizing then consider that as well.

Step : Search for Office Space Options

You ideally want to find 3 to 5 options that could work for you and then compare each one to determine the best fit.  There are many ways to find office space however if you don't have the time or expertise to do so on your own then consider hiring a local tenant representative that specializes in office space leasing.  With their expertise, they will be able to find you the best space and save you a lot of time and money.  They will have in-depth knowledge of your local area and will have had experience working with many of the landlords.

Step : Choose the Best Office Option that Works for Your Business

Once you have identified 3 to 5 good options go visit each one in person and compare each based on location, size, cost, etc.  You need to consider what your ideal location is.  Is it more important to locate your office space near your employees, public transportation / major highways, clients, conveniences, or all of the above?  Take some time to rank each in order of importance.

Step :  Negotiate Your Office Space Lease

When negotiating an office lease it's good to have a commercial real estate broker in your corner to help navigate you through all of the lease language and terminology. By working closely with your commercial agent you will negotiate a better deal for yourself.  

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