Signing a lease for a serviced office is a big decision for any company. To make sure that you are happy with your new office and to avoid any issues later, you need to ask the right questions.
Here are 10 questions to consider:
1. How much is the rent/licence fee, and what is included in the price?
It’s crucial to find out what is included in the price of your serviced office. IT/phone use can sometimes be charged as extra, so you need to ask your provider if there are any additional charges not included in your quote.
2. What extra facilities can I access in the building, and how much will this cost?
Serviced office buildings offer a wealth of onsite amenities. This can range from gyms to meeting rooms to Yoga classes. Most onsite amenities are included in the monthly price however features such as parking and meeting room usage might be charged as an additional extra. Always check this with your provider.
3. How long is the rental term, and what are the renewal options?
A contract for a serviced office can be for as little as a month to 2/3 years. Depending on your business growth, it’s worth asking the business centre about how a renewal would work and how it would work if you needed a different-sized space.
4. What are the hours of access?
You will need to make sure that the business centre’s operating hours line up with yours. Some buildings offer 24-hour access which can be perfect for companies that work weekends or outside of “traditional” office hours.
5. What are the security measures in place for the office space and the building?
Ensure that you know what security measures are in place. It is essential to know who can access your office and when. Building security should include CCTV and protocols for an emergency.
6. How often is your office cleaned?
Clean workspaces are key to employee wellbeing. Most serviced offices and common areas are cleaned daily or nightly, depending on the provider.
7. What and where are the IT/power sources for the office?
Reliable power supplies and internet connectivity are crucial, ensuring that your business can operate efficiently. Before you rent an office, make sure that the IT infrastructure meets your technology needs. Find out where power and ethernet ports are and if more are needed before you agree to move in.
8. Who manages the office and who to go to for an issue?
Know who to go to in the building if there is a maintenance request or an IT issue. Serviced office providers are responsible for any maintenance issues, whilst networking issues may be your responsibility. You will need to clarify this before you move in.
9. What is the deposit and upfront payment terms for the office?
Make sure you understand how much you are required to pay as a deposit to secure your office space. You also need to ask how many months' rent upfront is needed. Typically, it is one month, but can vary from provider to provider.
10. Is the office space available when we need it?
It is always best to double-check that the office space you will be renting is available when you need it. One of the biggest problems we see at FreeOfficeFinder is organisations who have not checked their current rental agreement/notice period who then realise that they cannot move at the time the office is available. They often miss out on the space.
Before signing a new lease for office space, you should ensure you have all the information you need. This will help you make an informed decision that will support your business.