Renting Your First Office

Renting your first office can be a daunting task. The whole journey can be like a roller coaster ride. You will find those you love are way off your budget and those you can afford looks like a scene from the 1960s. So how can you avoid burn out and ended with something that doesn’t fit your needs at all? Here are some tips that will help you rent your first office.

renting your first office

Tips for Renting Your First Office Space

  1. Evaluate Your Needs/ Are there any other alternative?

    First of all, what is the office for? Is it just for you and your spouse to get out of the work from home situation or it makes it easier to meet your vendors and clients. How many are there in your team? Rather than renting a whole office to yourself, can your teamwork from a co-working space? Or can you share a space with somebody else?

    Also, do you have clients coming over to visit? Once you have evaluated all these needs, you will be able to know for sure if you need to rent an office space right now.

  2. Determined How Much Space You Need

    Your needs depends on the strength of your team, what kind of workspace they need. Most companies today do not need the same space per employee as before. This is because most people work with a laptop now compare to the desktop in the old days. So table size can go from 1.6 meters to 1.2 meters. That is a 25% difference. of course, you have to consider whether you are going to have a work station or open-concept office.

    Remember to take into account the kitchen area, area for copy machine, meeting rooms, management rooms and toilet in the case of a shophouse office. There is also the reception area and leave about 20% to 30% for common area.  In some instance, you may want to keep a 10% to 20% for future expansion.

  3. Consider the Location When Renting Your First Office

    You have to choose a location that is easy enough for your team to travel to.

    • Somewhere near a train station would be perfect. An interchange station would be a bonus.
    • Are there bicycle park, bus stop nearby?
    • How close are you to your vendors or clients? – If you or your team have to travel a long way to visit your clients and vendors every day, then it may not be the most suitable location.
    • Is the place easily accessible by driving?-close to highway and parking facilities nearby?
  4. Look at the Amenities when Renting Your First Office

    You certainly also have to consider

    • Working parents that need a childcare nearby
    • Gyms for the health conscience
    • The variety of food option available in the neighbourhood.
  5. Determine Type of Office

    Depending on your trade, you can consider what type of office space is the most suitable for you.

    • Grade A office towers-professionally managed by reputable developer. Most suitable for MNCs and big corporate
    • Grade B, C office towers-personal owned office buildings. Suitable for most SMEs
    • Shophouse Office-Most suitable for small companies and the creative industry.
    • Science and Business Park-Specialise workspace suited for R&D, IT or related business. Needs some special requirements to qualify to get an office here.
    • Industrial Property-For production and manufacturing companies.
  6. Work on Your Budget

    Above all establish your budget and likewise take into consideration your utilities, renovation, office equipment and furniture.

  7. Understand the lease terms and fees involved.

  8. Work With an Experience Commercial Realtor

    Finally, an experienced realtor with local knowledge will be able to assist you to identify what is the office that suits you best, negotiate a good price and go through all the terms and fees involved.

We hope you find this article useful in helping you find an ideal office space. Alternatively, you can engage to help you find your office space.