At FreeOfficeFinder, we’ve been handling commercial property searches for nearly 15 years. We’ve been presented with difficult situations for both landlords and tenants, caused by a number of uninformed or rash decisions.
Having the experience and knowledge, our mission is to help organisations on their journey of choosing an office space and hoping to facilitate the process.
Here are 5 of the most common issues we hear about.
1. Unsuitable Location
Your choice of office location should be a priority, not only as an essential asset for your business, but also as a factor of comfort and convenience for your employees. Having your office close to transport links will facilitate the daily commute and make your business location more valuable.
Another factor to consider is that nowadays people work late and need to travel home safely. A client’s preferred building option might fail that criteria. Your staff shouldn’t feel unsafe leaving after dark in a certain area. If this happens to bother your employees too much your business might eventually need to relocate again – with all the expense, effort and upheaval that entails. You should consider not only purely commercial factors, but also take into account the concerns of your employees.
2. Poor Terms
Knowing the market is a must in any business industry. Sometimes, a client or a tenant may not be presented with the best offer. To avoid such cases and make the most out of a deal, both tenants and landlords need to know the market conditions and trends, to make sure they are up to date on rent prices, clauses and legislation. If you don’t have the resources or the knowledge to make the best choice, it is wise to hire someone who does, thus making sure you get the best possible deal. Market knowledge is critical to making informed choices that can save you a lot of hassle in the future.
3. Insufficient Broadband
An internet connection is vital in our everyday business lives – to be without it or trying to cope with a weak service means an unnecessary burden for your business. The main challenge is the time it can take to arrange and install a good connection. If the landlord hasn’t arranged it in advance and there is a significant time lag before the service is installed, you can either negotiate a rent free period or just don’t take the space. Unexpected delays, slow loading online resources and lagging Skype meetings are the last thing you want. Ensure a good enough internet connection is installed in advance or make alternative arrangements.
4. Not asking for help
Clients can spend several months trying to find office space on their own and make little progress. We’ve come across many cases in which clients sought to find space on their own, hoping to cut costs, not taking into account the time they were wasting. Most of the time, they still ended up calling up an expert and in the end doubling their costs. Engaging an expert and save yourself time and money. Also, letting someone else handle the search for you can take a lot of stress off of your staff.
5. Not factoring in costs
It’s very common for potential tenants to allow extra space for future expansion, then hesitate when they realise the extra cost implications. Although fully understandable, there’s the risk of going in the other direction and not planning ahead at all. Moving again almost before you’ve settled in is even more unpleasant. The key is to find a balance. Toggle between flexible, serviced space and conventionally leased space to get a comparison and a general idea of what would be best for you. Plan an annual budget and consider all costs that might occur. Avoid wasting money by planning your current and future space requirements in a controlled way.