- January 04, 2023
It may be both thrilling and frustrating for new business owners to look for and secure a furnished office space for rent in Bangalore, especially if they are on a tight budget.
Still, that's not how things have to be. You need to start with the proper knowledge and resources.
Experts have compiled a list of the seven most important things to consider when locating an office for a new business:
1. One must first determine how much room is required.
Generally speaking, you should allocate one thousand square feet for every four to six workers.
Based on this basic formula, you should be able to fit everyone in comfortably, according to the experts.
2. Treat your staff with respect.
Find out where your staff lives and then look for an office location that is accessible and easy to go to for them daily.
The first and most vital step is to choose a suitable hub for the operation. You can keep more current and prospective employees by streamlining the process.
3. Third, be flexible in your office space needs.
Suppose you're getting your business and generating revenue but still losing money. Then experts recommend looking into subletting your first office space.
Subleases on the shorter end of the spectrum are often month-to-month agreements, with the occasional week-to-week sublease.
Additionally, some need to be replaced once a year. Subletting is a better, more practical solution if you're still actively expanding.
4. Work with a broker with whom you feel confident.
Never trust an agent who has never located an office for a friend or acquaintance. You wouldn't want to leave something as crucial as finding a new doctor when you relocate to a new city.
Gather personal recommendations, and then, if you still have doubts, do more research. View the agents' profiles on sites like LinkedIn and Zillow to read reviews left by previous customers.
5. Think about sharing office space with other professionals.
This is your best bet if you're on a tight budget but still need a flexible, low-cost arrangement.
You can always return to the garage if your demands alter abruptly, and you'll be surrounded by people who understand the start-up world.
Different co-working locations may provide various hourly, weekly, monthly, or even long-term rental workspaces, from team-friendly communal areas to private offices and conference rooms.
6. Take precautions to avoid a lousy landlord
Like horrible bosses, bad landlords are a significant source of stress for tenants. They can significantly worsen working conditions for you and your staff.
Talk to current building occupants (or co-working arrangement) you're interested in renting from to ensure the landlord is professional and fair.
You don't want to move into a place where the landlord "sticks you with" an issue like a broken light bulb or worse "and never fixes it."
7. Recognize that anything is negotiable, including rent.
Regarding reserving an office, there are no hard and fast regulations. For instance, just because an office's rent is posted as Rs.50, 000 per month doesn't imply how much you'll have to pay.
Always try to negotiate a lower rent, preferably by at least 10%. You wouldn't believe the depths to which some people would go.
Some experts even suggest asking for free rent if the market is right. You may be eligible for rent reductions or free months every year you commit to a lease.
Ask for a free month's rent if your lease is for a year. If you're signing a lease for two years, see if you can get a free month or two. At the same time, this may be an elaborate hoax.
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