For your business to be visible, you need to choose a suitable location. You will need to have information on renting an ideal office for your business and avoid making mistakes.
Even minor errors can be costly to your company. You might think that everything has been thoroughly thought out and that all possible scenarios have been considered. Regrettably, unexpected events can occur that hinder any renting office space plan.
Are you considering relocating your current business to Austin, TX? If so, continue reading this article to learn 8 mistakes to avoid when choosing Austin office space for lease.
1. Not Hiring a Broker
When searching for ideal office space in Austin for lease, don’t ignore brokers to save cost or move fast. Brokers are essential in the real estate business. They will provide you with all information if you are considering renting office space.
Brokers are also equipped with the skillset to help you find a space for businesses that meets your needs. They will also negotiate a good lease on your behalf. Don’t worry about the cost of hiring brokers; your landlord will cover the fee.
2. Not Understanding Lease Terms
Before signing any commercial lease agreement, ensure you understand all the terms. Failure to do so can result in future conflicts with the landlord or other tenants.
For instance, checks whether the terms are clear, especially regarding using facilities like a gym. If the terms for office space for lease Austin Tx are unclear, you can ask the tenant representing the broker or an attorney for clarification.
Check important things like the type of lease term, nature of rent requirement, maintenance and obligations, assignments, subletting provision, among others.
If the terms negatively impact your business, you can consider negotiating a better deal.
3. Focusing on Price Alone
Though office space budget is one of the main factors to consider when choosing a commercial space, your decision should not solely focus on price. There are other important factors to consider that are beneficial to your business.
These benefits include the location of the commercial space, accessibility, the amenities available in the space, and the versatility of the space. Don’t let the price be the only determining factor. Look for office space for lease in Austin, TX, while considering all your business needs.
4. Overlooking the Future Needs
Many business owners only rent a space depending on their current needs. However, this should not be the case. Consider future growth or economic crisis before signing a lease.
Renting an office space that only meets your immediate needs may hinder future growth or other business dynamics. For instance, you may want to hire more employees and increase your product range. In that case, you may need more space.
So, before signing a lease agreement, ensure a clause is provided to allow you to rent additional space as it becomes available. Also, seek an early termination clause or sublet in case of a shaky financial situation.
5. Not Being Sure About the Space Needed
It is difficult to determine the amount of space your business will require when starting a new business. It is also difficult to predict the rate your business will expand. The best approach in such a situation is to start with a small space and then rent more space as your business grows.
If you are starting a new business, consider the equipment and furniture your business will need. Consider the number of employees you will hire in the first few years.
Avoid overestimating the space your business requires. Why pay a higher rent rate? Choose a small cheap space that will enable you to grow.
6. Moving too Fast
Getting an ideal commercial space for rent in Austin TX may take time, especially for first-time business owners. A perfect space is determined by the terms and conditions of the lease contract.
When you move fast with the leasing process, you may overlook the terms and conditions. This will bring unexpected results, like being tied to a longer lease. Don’t rush into obtaining a lease contract. Give yourself time to understand the terms and conditions before signing a lease.
Negotiate lease terms and conditions to suit your business.
7. Ignoring Your Business Brand
After considering all essential factors regarding the lease, never forget the business image you want to create. The outlook of your business office must give the right impression.
Consider how your employees interact with clients before choosing the office space to rent. Maintain an impression that best represents your clients even when it cost more.
8. Not Sure About the Duration of a Lease
Depending on your finances, you may want to lease for a long or a shorter period. Take it slow if you are unsure, you may find yourself with a lease that you will not use.
Also, when considering relocating, make sure you allocate plenty of time in search of a new space. Most suitably, 12 months before the current lease contract ends. When the lease contract expires, don’t rush into finding a new space or get stuck in your existing space.
Avoid the Above Mistakes When Finding Austin Office Space for Lease
Avoid making leasing mistakes and choose an ideal office space for your business. Use real estate brokers to guide you in finding an Austin office space for lease that will suit your business needs.
At Austin Office Space, we represent tenants looking for office or industrial space to buy or lease. We handle every aspect of the process, including analyzing your long-term requirements, searching the whole market, negotiating lease documents, touring, advising on site selection, construction management, negotiating terms, and even moving a desk.
Contact us today to help you find the perfect office space for your business.