Planning to buy or rent new commercial office space for your team to work in? Well, the internet might just offer you some opportunities to check out for, but not everything available online can be suitable for all your needs.
We’ve brought you the checklist that will help you get started in the process of selecting an office space. And if you are considering investing or renting space, then these important points will benefit from choosing one.
If you are searching for commercial office space for rent in Bangalore for the first time, you must be a little careful; you don’t have to make any mistakes in the decision process. Eventually, the decision you’ll be making can help in smooth functioning of the business.
Here’s the checklist:
Location; an ideal location can determine and prove the overall benefits to your business. A business should be located in an area that is easily commutable and accessible that allows your business to operate effectively, thereby promoting facilitating the business in long-term success.
Also, there’s an old saying that the three most important factors in real estate are ‘Location, location and location’. The location of your commercial office space significantly impacts its capital growth potential. If you are situated in office spaces that are in prime areas of the city, then you are more likely to increase the value of your business over time.
Amenities; Check the facilities available in the area, such as coffee shops, restaurants, banks and supply stores for regular needs. Are there supermarkets, gyms, bars and cafes that can entertain your clients and staff.
If your business is located close to these areas, you might have an excellent chance for generating more profits and save time by not travelling far from your workspace to find things you require the most.
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The neighbourhood; ask yourself whether the location you are choosing for your office is located in a safe and popular area that reflects your brand image and business objectives.
Also, see the impact that your neighbourhood might have on the business; does it have more of positive impacts or negative impacts?
The lesser you pay for rents may not always give you the perfect workplace while you are on the lookout for higher profits, instead, a bad neighbourhood can demoralize potential clients and customers.
Budget; There are sellers in the market that you need to be aware of; you need to consider a few factors before signing to anyone of these brokers.
The most valuable factor to consider is, the budget; you need to think whether the commercial space is well within your budget, either for leasing or renting.
If you find that space is not under your budget, then think before signing the agreement.
You need to prepare a budget, having your financial conditions in mind can help you save some money and invest in other areas of business.
Legal issues; while you are selecting new office space, make sure that the place is not embroiled in any legal matters. Some spaces are involved in disputes and legal issues that can cause problems later on.
Before you select an office space, ensure are they any legal issues from the owner. We might suggest you have a word with the previous occupiers of the place and get to know the reason why they left the place.
Terms and Conditions; Once you’ve chosen the ideal office space, make sure that you have read and understood all the terms and conditions perspicuously.
Take your time in checking out all of the terms and conditions; ensure that you’ve understood everything. There might be some hidden clauses fused in the terms and conditions; take professional help if you don’t understand yourself.
Legal advisors you choose will be able to explain you all the clauses and also advise you the problematic issues if any. If there’s anything doubtful about the company, raise the issue with the seller.
If you are in the hunt of finding the best office space for your company, then the checklist guide of ours will come in handy to you.
Since you understand there is no tough job in finding new office space, however, you must be attentive to the basic facts dealing through such issues.