Things to Consider When Leasing Office Space
When you decide to lease your office space, there are many factors that need to be considered. Firstly, it is extremely essential to prepare yourself mentally. This is the first and the foremost thing that needs to be done. Why? Simply because once you lease your office space, there are going to be drastic changes. If you can handle it, you may adapt to it very well. However, if you cannot, it may cause issues. There could be clashes too, which in turn, will not be good for your company. When you decide to lease office space, you have to acknowledge the fact that there will be changes in the profits of your company. Whether they affect the profits in a good way or a bad way is totally dependent on you and your ability to cope. There could also be shift in the satisfaction factor of employees, not to mention the growth of your company. When you have all your ducks in a row, you can definitely opt for an office for lease in Mumbai.
- The first thing you need to keep in mind when you lease office space is estimating the space that you will be requiring. This estimation should not be done only on present basis. You should think about the space requirements by your company in the future as well. You cannot expect your company to remain static in the years to come. The figures will change, you will need to expand.
- If finding the right space has left you flustered, opt for professional advice from a commercial real estate agent. These are the people who have detailed information regarding properties and are your go to people if you want to know which spaces would be entering the market.
- Car parking may seem like a trivial matter but when it comes down to the wire, you will realize that it is in fact an important issue. You need to clear the fact whether you and your staff will be provided a parking spot or whether you will have to opt for street parking.
- You can come to an agreement to share certain office spaces. This is beneficial to both the parties as it will reduce the overall cost to a great extent. You can share spaces like the reception area and restrooms. You could also share certain office equipments like the printers and Xerox machines to bring down the costs a notch. However, every idea comes with its own baggage. Sharing will eventually lead to lack of privacy. Depending on the company’s ability to accept the fact, sharing could be something good or could go completely downhill.
- If you feel that your space needs some kind of an improvement, make sure you get it on top of your list. You need to do some serious negotiations to get permission to make changes to the space. It is advisable that you get things cleared out before taking the plunge and opting for an office for lease in Mumbai.
- It is always good to read every minute detail on the lease agreement. You need to review certain details that could cause problems later on. Confirm the monthly payment and re-check the length of your lease. Also make sure you have read what the landlord is responsible for. There is a possibility that rent rates could be increased in the following year, which you must check. Also check other services like the Internet connection, telephone services and other services that enable effective communication.
- Lastly, confirm the fact that there will be no constraint on signage, which is an important factor for the recognition of your company.
Author’s bio:
Albert Pinto is a real estate agent who exclusively specialises in office space leases and promotes office for lease in Mumbai. He believes that it is an effective way to promote one’s business and reduce costs. He works round the clock and loves the world of real estate. When he is not working, he loves to spend time with his wife and 3 kids.
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Category: Business
