Points to Consider When Renting Office Space

If you’re a business owner, whether it’s a large firm or small start-up, any way to save on capital outlay and tax or help with cash flow is welcome. This is why renting office space rather than buying a building is the most sensible route. Not only will there be a lower initial outlay, but you could go for a serviced office where all the furnishings, technology and equipment are already fully installed and ready to go.

Key Considerations

Wherever you choose to rent an office, you will need to decide on the terms. Whether you go for a short-term or long-term lease can depend on the nature of your business and your future plans. Some office space will have a minimum rental of 12 months, which could be too inflexible for your requirements. Business parks will often offer more reasonable six-month rental periods, or offer a discount if you sign up to a longer-term agreement.

Renting an office in an existing business complex or serviced office building can have other advantages too. There are many complex rules and regulations surrounding tenants’ rights when renting an office and unfortunately some private landlords may not adhere fully to these. In a business park or serviced office complex you can be more confident that the legal and health and safety considerations will be addressed appropriately. If in doubt, check that your prospective landlord is accredited.

Deciding on Location

When choosing a location, there are more decisions to be made – although London seems the obvious choice for many companies, areas slightly further afield could be more beneficial. Oxford, for example, is perfectly located for access to Heathrow and the A4 but is much better value for money than London in terms of office rental. To see what’s available, just search for offices to rent in Oxford.

Once you’ve picked your approximate location, another consideration is whether you go for a town-centre location or an area nearby. It will often depend on the nature of your business. For example, how often will your employees or clients or goods need to travel to the town centre or other locations in the UK?

Most large towns and cities will have business parks in the surrounding areas. Locating your business in one of these can have several advantages – for instance, you will have access to many additional business support services, as well as similar or related businesses to your own. This can be valuable for networking and sharing resources. Larger business parks can also offer support packages tailored to particular types of business, such as facilities hire close by.

General amenities for employees are also usually located within business parks. These include cafes, restaurants and gyms. They can also offer other useful ‘umbrella’ services across the whole park which all the businesses share, such as security staff, IT technicians, maintenance workers and even reception personnel. A quality business centre may even run business networking and social events for companies renting their offices.

All in all, the more flexibility and support you can get with your office rental, the more you can concentrate on the important matter of running your business.

Tags: Business, Executive suite, Office Space

Category: Business