Are you looking for a small office space for rent in Austin, TX? Choosing the right office space in Austin can be challenging. And with the current global pandemic and the unparalleled growth in the Austin market,, the margin of errors is decreasing.
Renting an office space can be expensive. That’s why choosing an office space without proper due diligence will undoubtedly be a costly mistake.
Your office space should accommodate your current and future needs and allow your company to grow. Before renting a small office space in Austin, Texas, there are various factors to consider.
Keep reading to learn how to select the best small office space for rent in Austin, TX.
Why You Need a Small Office Space for Rent Austin, TX
Austin is well-known as a tech hub in the United States. The city is a great place to run a business because no specific industry holds the market.
Also, there are highly developed government and health care services. The various industries operating in Austin are wide.
Austin, TX has a strong and flexible commercial real estate market that backs up the increasing company needs, but the good spaces go quickly in our current environment.
Office Trends for Letting in Austin
What are some of the trending small office spaces for rent in Austin, TX? The three most popular trends are:
Traditional Office –generally three to five year terms with traditional lease agreement
Flexible Office – such as a co-working space, allows you to rent the space for a shorter time frame. The space includes either daily, monthly, or yearly rent.
Subleases – this is a great alternative allowing the new tenant to take over the existing tenants lease for the remainder of the term. This option also typically comes “plug and play” with furniture, allowing for a quick turnaround.
Work With a Great Broker
Do you need a coworking space in Austin, or are you ready to have a permanent space? That’s when working with a great real estate broker with experience in the office-space market is helpful.
Ask around in your industry for referrals to local brokers who know the Austin community well, such as Austin Office Space. Your chosen broker will be a good resource and a nice source of advice so long as you are in business.
When examining a small office space for rent in Texas, remember to consider your present and future office space needs. You may have only three employees currently. But, if you plan on hiring over 20 people soon or in the next two years, you will need to plan well and incorporate certain lease provisions, which your broker will help you navigate.
Opting for the Minimum Viable Office Space
It’s tempting to spend a lot of cash on office space that dazzles both clients and your new hires. But, before that, question yourself whether it is necessary for your business’s success. Also, it would be best to afford the price for the space even when sales get slow.
There is an exception for financial services providers and attorneys because people view a luxurious office as a sign of business success. If you are not in such a field of business, you will get by with a more modest office space.
Having a comfortable, clean, but not necessarily fancy Austin, TX small office space can save you cash that you can invest in other areas of your business. Also, operating from a coworking space Austin or business incubator can save you a lot of money.
An advantage of renting a flexible space such as coworking is acquiring exactly the space you require. You can even rent two or three desks and keep scaling up as you add more team members. You get to share amenities such as a kitchen and conference room in such office spaces. You also do not need to sign a long-term lease, giving you even greater flexibility.
Price is the most important factor when choosing to rent office space in Austin. When you spend too low on office space, you may end up not loving the space or even relocating after a short period of time. When you spend too much, you may end up struggling to pay the rent or relocate in order to downsize. Neither of the two scenarios is ideal for your business.
Here are a few questions to ask before spending on your next office space:
Am I able to afford to pay a one-month rent deposit right now?
Are there any hidden costs or operating costs? They may include maintenance and the extra cost of parking.
If my financials aren’t stellar, am I comfortable giving a personal guarantee?
Is the price in line with other similar office spaces in Austin, TX?
The first question helps you to know whether you can afford the place in the long term. Asking about the hidden costs protects you from being stung with charges you didn’t expect.
Comparing prices with other office spaces for rent ensures you get the best deal possible. Always compare with other office spaces to ensure you get value for your money. Your broker can make these charges clear for you and knows the market to do a cost-comparison for you.
Consider Choosing the Right Small Office Space for Rent in Austin, TX
Consider all the above tips and engage a commercial real estate broker before choosing a small office space for rent in Austin, TX. You may require expert assistance to avoid mistakes and wasting energy, money, and time.
Are you asking yourself, “Which is the best small office space for rent near me?” Do not worry. At Austin Office Space, we’ve got your back.
We represent tenants who need to rent or buy an office or industrial space. We will aid you in locating a suitable deal while reducing your short and long-term risks.
Contact us now to find the right small office space for rent.