Commercial Real Estate News / Leasing/Renting / When to Start Renting an Office for Your Small Business

When to Start Renting an Office for Your Small Business

Published: 09-27-21 Category: Leasing/Renting

Specializes in providing actionable insights into the commercial real estate space for investors, brokers, lessors, and lessees. He covers quarterly market data reports, investment strategies, how-to guides, and top-down perspectives on market movements.

This article was updated on 9/07/2023.

Renting an office space gives go-getters more flexibility and freedom. Buying office space or working from home are both viable options; however, business owners have found that choosing an office for rent can foster more professionalism without significant costs.

Working from home is great, or at least it was. At first, you were glad that you no longer had to partake in morning traffic. Now you find yourself more unproductive, distracted, and tired. The lines between work and personal lives can blur easily when your office is right across the way from your kitchen.

Maybe now is the time for your company or team to consider office space. Buying an office to call your own is appealing. Yet, owning a space will not provide the flexibility of renting. Changes in your business are bound to happen, and you want to find a space that's both prepared for change and optimized for employee productivity. You also want the ability to easily trade out that space for a better one in the future.

What Should I Look for When Renting an Office?

Before starting your search for an office for rent near you, take the time to ask your work team if they would want to work in an office. Surprisingly, some may find that they work better at home. Having a total headcount will refine your office choices. Too little or too much space can result in an uncomfortable work environment that costs you too much in the end.

Once you know how many workers will be in the office, start considering who or what will take up space. If you own a business that welcomes clients and partners, you'll likely need room for accommodating furniture.

Location, Location, Location!

Additionally, the location of your office space for rent will impact its convenience level. Offices that see clients daily are more accessible on the ground floor.

Here are some other location factors to think about:

Noise: It may be nice to pick an area that is newly built. However, other construction may continue for months or years in a developing part of town. Also, consider noise from traffic, public transit, and events.
Commute: Is the location a fair distance for everybody who will be commuting there? How is the traffic in that area?
Reputation: Are the neighborhoods and surrounding areas safe?

It can be overwhelming to ponder over all of the aspects that come with choosing an office for rent near you. Is it truly worth the search? Perhaps you're contemplating gritting through remote work for a while. In any event, we strongly recommend working with a commercial real estate broker who can help guide your search.

Renting an office space is worth your time and energy. You and your team will feel at ease with the shift to an official workspace. And, if you're on the fence about renting or buying, renting is still likely going to be the better choice.

Benefits of Renting an Office Space

Renting an office space is like renting a house. Buying property can give you a return on your investment later on; however, your business may be in a phase where it's not ready to buy just yet. Or, you're anticipating greater growth in the future. Either way, these benefits of renting show how renting can serve a company well.

Size: If you plan to be in business for a while, renting provides the flexibility to grow and scale up or down as you please.
Ready-to-go: Offices need equipment, furniture, and working internet. When you buy an office, you have to furnish it entirely. Existing office spaces come with nearly everything you need to start working.
Finances: With buying, there are down payments, furnishing, and maintenance costs. With renting, you can pay your due and continue with growing your company.

Working from home may save you the money you would spend renting. Yet, a more established workspace can foster professionalism and good working habits.

Using Your Home Office vs. Finding an Office for Rent Near You

When you find an office for rent near you, you separate your home life from your work life. The rise of burnout from working remotely can stem from a lack of boundaries with work. Working from an office can prevent these issues.

Some other things to keep in mind about working from home include:

Working more hours: When you can work any time, you end up working overtime. A home office is hardly segregated from your weekend staycation plans. When you are physically away from a real office, you can relax knowing that you don't have to work at home.
Children: Your little ones want to be with you all of the time, and you want to be with them, too. When it comes to your work, however, your child can bust open your home office door at any time. These distractions can make work drag on and lead to burnout.
Isolation: There is a certain camaraderie that takes place when you work with others in an office. It's easier to collaborate and create together than apart. Additionally, seeing your co-workers every day can prevent the unpleasant feeling of isolation.

Using an office space can improve your mental health and concentration. This is made even more possible when you forgo the added stress of down payments and furnishing by renting.

Why Rent Instead of Buy?

Renting your office space gives your company room to grow and time to develop. There is nothing better than embracing the growth of your business. You want to be able to accommodate your success with the right office spaces. And, if you're focused on your work, then renting will not distract you from that as buying can.

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