September 18, 2018

3 Qualities Startups Should Look for in Office Space Real Estate

Choosing the right office space real estate is an important step towards growing your business. You want a space that is comfortable for your employees and promotes productivity while not spending a fortune on your monthly rent. Locating a space in a great area that doesn’t break the bank is even more vital for startups. Since startups are typically focused on maximizing the return on every dollar spent, office space real estate that offers a lot of value is key. Finding the right commercial property for rent can be challenging, but with the help of an expert brokerage firm like the Rakow Group you can certainly set your business up for future success. Below, we will discuss 3 qualities that startups should look for when selecting office space real estate.

1. Adequate Office Size

When you are working with a limited budget, sometimes you have to make sacrifices when seeking commercial property for rent. That being said, it’s important to find an office space that is big enough to fit all of your employees and equipment without feeling cramped. Bigger isn’t always better, but a tiny office space that feels overcrowded can be a serious detriment to the productivity of your workers.

2. Affordable

Startups are great because they are lean and mean. What starts as a small 5 to 10 person company can end up becoming a corporate powerhouse like Uber or Google if things are done right. In the early stages of a startup, it’s important to make every dollar count. This particularly holds true for spending money on office space real estate. Startups need to look for office space that is extremely affordable while providing a lot of value. Many startups look to shared office space or co-working spaces. It’s important to ask yourself what the bare minimum requirements are for your office space prior to beginning your search.

3. Flexible Lease Terms

The last thing a startup wants to do is lock themselves in a 5-year lease and find out one year into it that they need more space. Longer leases offer more choices, but less flexibility for your business. Finding office space real estate that offers great value with flexible lease terms is like finding a diamond in the rough. Working with expert brokers at the Rakow Group can help you negotiate the lease that works best for your startup.