December 26, 2018

4 Tips for Renting Your First Office Space Real Estate

Renting your first office space is an exhilarating time in the history of any business. You are spending money on the new home for your entire business operations. You want to find office space for rent that allows your company to grow and keeps your employees motivated. With the right commercial property for rent, you can create the foundation for continued success. Don’t just sign the dotted line on the first commercial property for rent you find. Instead, spend the time to research the market and work with an expert brokerage firm like the Rakow Group. Below you will find 4 tips for renting your first office space real estate.

1. Keep a Strict Budget in Mind

If you are a startup or a business that is growing, it’s important to create a strict budget for your first office space for rent. You don’t want to be spending an excessive amount of money on your monthly rent. Keep in mind that location will have a key impact on how much your rent is. Avoiding debt and crunching the numbers prior to making a decision is a great rule of thumb.

2. Location Is Key

The location of the commercial property for rent will have a large impact on the monthly rent. You want to find office space for rent that is close to your team so that their commute is easy. If your workers have to drive an hour plus just to get to work, it can wear them down quickly. On the other hand, if you are still creating a team, choose office space for rent that is an area populated with a lot of local talent. If you own a retail business, choose a location that will allow customers to come by and grow your business.

3. Ensure That the Lease Is Clear

Commercial real estate contracts can be hard to interpret if you don’t have any experience. It’s important to understand all of the terms in the lease and make sure that all of the provisions you need are clearly spelled out in the lease. Don’t take your landlord’s word for everything.

4. Hire an Expert

One way to ensure that your office space for rent meets all of your needs is to hire an expert like the brokers at Rakow Group. They can help you locate commercial property for rent at a good price and make sure that the lease includes everything you need.