What's the best office space setup for my remote team? How do I find an office space rental for my hybrid team? Can I rent an office space near me for a day? How do I rent office furniture for a day?
If you're grappling with these modern office space questions, you're most likely figuring out how to balance a good dose of team collaboration and optimized performance with individual employee productivity and satisfaction.
Understanding your teams' unique needs, stringent budget levels, and navigating the office space rental process can be a bit overwhelming. This guide will walk you through the essential steps to renting an office space, including flexible office solutions like fractional team suites or day offices that can offer greater flexibility and cost savings, as well as the easiest step-by-step process to move-in an office - traditional or otherwise.
A Step-by-Step Guide to Renting a Fractional vs. Traditional Office Space
1. Identify Your Office Space Requirements
Before you start browsing available office spaces, you need to define your business's specific needs. Consider factors like size, location, amenities, and budget to help narrow down your options.
- Size: How many employees do you have, and how much space do you need? Consider not only desk space but also areas for meetings, break rooms, and storage.
- Location: Is it essential for your office to be in a central business district, near your clients, or close to public transport? Location is a major factor in rent and accessibility.
- Amenities: Do you require specific amenities like high-speed internet, on-site parking, 24/7 access, or a reception area? Some businesses may need specialized facilities, such as conference rooms or private offices.
- Budget: Define how much you're willing to spend on office rent. Be sure to include utility costs, building maintenance fees, and additional services that may not be included in the base rent.
Tip: Consider future growth when deciding on office size. If you're a small startup, you may want to choose a flexible office solution to avoid being locked into long-term commitments.
2. Determine Whether You Need Traditional or Flexible Office Space
When searching for office space, businesses increasingly have the option to choose between traditional office leases and more flexible office solutions. Here’s how to decide:
- Traditional Office Lease: A traditional lease is usually for a specific duration (1-5 years) and may involve higher upfront costs. You might need to commit to a long-term contract and make investments in office furniture, technology, and decor.
- Flexible Office Space: If your company needs more flexibility, solutions like Flexday Suites can be a game-changer. Flexday offers private team offices with micro-term by-the-day payment and virtually no commitments, as well pay-as-you-go options. These spaces often include everything from high-speed internet to meeting rooms, utilities, and cleaning services, all without the overhead of traditional office management.
3. Set a Realistic Budget
Office rents vary significantly depending on location, size, and type of lease. When planning your budget, consider the following:
- Base Rent: This is the fixed amount you'll pay for the space. For traditional office leases, this will be a set monthly rate, while flexible spaces may have varying rates depending on how often you use them.
- Additional Fees: Many office spaces come with extra fees for utilities, maintenance, cleaning, and parking. Some spaces, especially flexible ones, include these costs in the rent, which can simplify budgeting.
- Furniture and Equipment: If you’re leasing a traditional office, you might need to budget for furnishings and office equipment.
On the other hand, many flexible office spaces like Flexday Suites offer fully furnished offices, meaning you don’t have to worry about upfront costs. Being clear on your budget will prevent you from wasting time looking at office spaces that are out of your price range.
4. Research and Compare Office Space Options
With your needs and budget in mind, you can start your search for available office spaces. When it comes to searching for office spaces, there are several ways to find the best deals:
- Online Listings: Websites like LoopNet, LiquidSpace, Upflex and Flexday allow you to browse listings of office spaces by location, size, and features. You can filter for flexible office space, private office rental, or co-working spaces depending on your needs.
- Commercial Real Estate Brokers or Agents: A commercial real estate agent (or brokers) specializing in office space rentals can provide access to listings not available online. They can also help you negotiate better lease terms and provide valuable market insights.
- Networking: Keep an ear to the ground through networking with other business owners or colleagues who might know of available office spaces. Often, shared or subleased offices may not be publicly listed. Make sure to prioritize flexible lease terms if your business is in a growth phase or unsure about long-term needs.
TIP: A traditional office lease is typically great for companies mandating RTO (return to office) measures, while flexible office spaces are cost and resource efficient for hybrid and remote workplace models.
5. Tour the Office Spaces
Once you’ve narrowed down your choices, it’s time to visit potential spaces. Touring office spaces in person will give you a better sense of the environment and whether it fits your business needs. When visiting, be sure to check:
- Layout and Space Flow: Ensure the office layout suits your business model. For example, if your team collaborates frequently, open-plan offices might be ideal. However, if your employees need privacy, look for private offices or dedicated desks.
- Building Amenities: Does the building offer parking, shared conference rooms, or a kitchen? In flexible office spaces like Flexday, these amenities are always included.
- Condition of the Office: Look for any signs of damage, wear, or neglect. A well-maintained space shows the landlord cares about the property.
- Noise Levels: Consider the noise level in and around the office. Is it a quiet, focused environment, or are there distractions? Coworking spaces, for example, may have a livelier atmosphere that suits certain businesses but could be too distracting for others. A fractional office like Flexday Suites offer the full ownership and benefits of a quiet office space used only by your team that day.
6. Negotiate Lease Terms or Flexibility
Once you’ve found the right office, whether it’s a traditional lease or a flexible office solution, it’s time to negotiate the terms.
- For Traditional Leases: Ensure the rent, lease duration, and escalation clauses are clearly outlined. Some office spaces may offer a tenant improvement allowance to help customize the space, which can be negotiated into the lease.
- For Flexible Office Solutions: Flexible leases usually have month-to-month terms or short-term contracts, making it easier to scale up or down depending on your business’s needs. However, most if not all coworking spaces require a minimum commitment or offer discounts for longer-term stays in these "flexible" lease contracts.
Flexday Suites offer the most flexible terms, with no minimum stays required and no deposits needed to use fractional team suites. If you’re opting for a flexible office space like Flexday Suites, everything is included in the rent (e.g., utilities, internet, furniture, etc.), so all you need to do is book and use it the way you would a typical hotel or Airbnb stay.
7. Sign the Lease and Prepare for Move-In
Once you’ve agreed on the terms, it’s time to sign the lease or membership agreement. Make sure you get a copy of the signed contract for your records. Before moving in:
- Set up Utilities: If utilities aren’t included, set up accounts for electricity, water, internet, and phone services.
- Plan Your Office Layout: Whether you’re moving into a traditional office or coworking office, plan your office layout in advance to ensure smooth workflow. This includes table arrangements, lighting and plugs, which can be customized for traditional office leases, but are built-in already for coworking offices.
- Order Furniture and Equipment: If you’re in a fractional office like Flexday Suites, this is already handled for you. But for traditional offices, you’ll need to purchase furniture and IT equipment.
8. Move In and Settle
Once everything is set up, it's time to move in!
For flexible office spaces, this process is typically much quicker, as most of the infrastructure will be ready for you and you can literally pre-pay for the office space like a hotel room or Airbnb, in less than a day. Traditional office leases may require more time for setup.
On your move-in day, make sure all your equipment is working, and your team is familiar with the office layout. Flexible team spaces like Flexday Suites have a virtual concierge is always available to guide you for any on-site questions in your day office.
Renting an office space—whether traditional or flexible—requires thoughtful planning and consideration of your business’s needs, budget, and growth trajectory.
Flexible office spaces like Flexday Suites can provide the perfect solution for businesses that need flexibility without sacrificing quality or amenities. By following this guide, you’ll be equipped to find an office space that helps your business thrive.
Ready to explore flexible office spaces or a traditional lease? With the right office space, you'll be set up for success—no matter where your business is headed.
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To find out more about Flexday Suites, a private self-contained team space with meeting rooms without any commitment at all, click here.
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