Finding a Great Office Space for Rent in Manhattan
Many business owners overlook the importance of having a proper office space. Since it is your base of operations, it is imperative to your efficiency and success. Finding an office space that fits your needs can be a daunting task, but it can be made much easier if you follow these tips.
Narrow Down Your Location Radius
You’ll need a place that is a reasonable distance away from where you live to make commuting easier. If you have a team of employees, it’s a good idea to keep the location within good commuting distance from their homes as well.
Some other factors in location selection are whether you’ll need to have certain establishments nearby. For example, you might need a separate location for big meetings or events. If you have employees who live far away, they would benefit from having public transportation easily available in the area. It would be convenient to have restaurants and coffee shops around for some lunch and snack options. It’s also nice to have a bank or ATM within walking distance to make transfers quick and easy.
Keep Your Budget Realistic and Stick to it
There’s not much of a point in renting an office space if doing so will have a severely negative impact on your finances. Know how much you can afford to pay every month, and only seek locations that meet those budgetary constraints. You may have to make some concessions with regard to comfort or convenience for the sake of sticking to your budget, but it will be worth the trouble to avoid going into debt or possibly even losing your business as a result.
Understand the Full Scope of Your Costs
When searching for any place to rent, it’s easy to get hung up on the rent being the only cost consideration. However, it’s vital to ensure that you know exactly what your full expenses will be. Do you need to completely furnish the office space or does the unit come with an adequate amount of furniture and desks? Does your rent cover utilities? Do you need to pay for Internet access and phone usage? Is there a security deposit you need to make when you sign the paperwork? Are there any hidden costs in your rental agreement? Who is responsible for covering repair costs?
Calculate Your Space Requirements
Understanding how much space you need to properly suit your business and employees is a little tricky. Smaller spaces are more cost-effective, but they also present comfort and efficiency problems for your employees if the space is too small. Big spaces are easier to work in and allow for growth, but they’re also expensive and may be a waste of money if the extra space is not being utilized.
The general rule for adequate space requirements is about 200 to 250 square feet per person. You’ll also have to take into consideration any desks, furniture, and equipment that will be stored in the office. Take measurements of everything and try to map out where everything would fit.
Don’t Overlook Aesthetics
Aesthetics may not matter to you much if you’re focusing purely on utilizing the space in a practical manner, but they do matter to your clients and any important business associates who may visit your office. You don’t need to feel obligated to choose a particularly fancy unit. However, the space needs to look presentable and professional. If you’re allowed to do some cleaning and alterations under the terms of your lease, give the place a good coat of paint, add some tasteful decorations, and fix anything that’s broken before you open your doors to clients and business associates.
Try Co-Working Offices
Co-working spaces allow several businesses to work out of one large office space. You’ll have all the necessary resources, privacy, and space that you’ll need to run your business, but you’ll be able to share the overall expenses with the other companies that are working in the same unit. Co-working establishments are also beneficial in that they provide you with many networking opportunities, fellow entrepreneurs that can offer you advice, assistance in times of emergencies and even improved morale by having more people around to socialize with during downtime.
Find a Trusted and Skilled Agent
Just like when you’re trying to find the right house, a good agent can mean the world in finding a place that is suitable to your needs, affordable and high quality while communicating with you in a clear and prompt manner. If you have colleagues who have found office spaces through agents, ask them for recommendations. It’s also a good idea to visit some local businesses in high-quality office buildings to get additional recommendations. Once you have a few names, research the agents online and check for user reviews, rates and any other information to help make your choice.
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