At AdvantEdge, we understand that the search for new office space can be very stressful and time-consuming, whether you are in the process of starting a new company or relocating an existing one. Since we've been in the office space business for over thirty years, we'd like to offer some insider tips and wisdom to help you find the right office space. We have had the opportunity of working with countless clients who once were in this exact position, so we understand the concerns and considerations that come along with your office search.
Here are four crucial details to address that we found are often overlooked until the very last steps of the search process:
Think Of The Security Deposit
One of your first questions should be to ask about the expected security deposit for your new workspace. How many months' deposit does your office space require? Is this negotiable in any way? This number has the potential to drastically affect your overhead cost and should be factored in as soon as possible.
Don't Forget Setup Fees
What setup fees are required to move into your new office space? These can range from general charges, like a per person ‘office setup’ fee, to more specific installation charges for equipment such as telephone and WiFi connections. These can quickly add up and also directly affects overhead.
Read the Fine Print
Is there a specified percentage in your lease regarding the rental increase rate upon renewal, or is it subject to the more general ‘renegotiation’ at expiration? Make sure to read your lease thoroughly and discuss it with your office space service provider as needed.
Do your research on the space before you tour and prepare some questions to ask during your viewing. You may want to ask:
- What equipment and technology is included?
- Does your workspace have multiple location(s)? How accessible are they?
- Is parking available and if so, what are the rates?
- Are any special amenities like a fitness center, rooftop patio, terrace, and complimentary beverages or snacks provided?
Asking the right questions will not only help you choose the best space for your needs; but will also ensure that are no unpleasant surprises after you’ve already signed on the dotted line.