- Know how much space you need before you look for an office. Lease terms typically range from three to five years, and you don't want to be caught short of space if you grow.
- Determine which services and amenities are most important to you. The fewer you need, the more leeway you will have to negotiate the price of the lease. Business centers typical offer fewer amenities than do executive suites.
- Closely examine the lease, and get legal help if necessary. Ask questions of the owner and yourself: Are cleaning, maintenance and insurance included? Is there enough on-site parking? Are there extra charges for phone calls through the building's switchboard, faxing, Internet access and clerical support? If the heating/cooling system goes out, does the building owner have provisions to fix it quickly?
Action Steps
The best contacts and resources to help you get it done
Seek expert advice
Negotiating an office lease can be much trickier than renting an apartment, because services, fees and even the method of determining monthly costs varies among building owners. Another business owner who has been there and done that can help.I recommend: Volunteer counselors with the Service Corps of Retired Executives (SCORE) offer practical insight on leases. You can also get a property lease checklist from Commerce Clearing House (CCH) Business Owner's Toolkit.
Shop for the package you want
Business centers and executive suites typically bundle the services they offer. Know what you can't do business without before you begin office-hunting.I recommend: The Regus Group and Synergy Workplaces own and manage office suites nationwide. At Free Office Search, Worktopia and Search Office Space, you can search listings of offices from coast to coast.
If you need an office presence without the space
A virtual office provides a business address; mail collection, fax and answering services; and meeting rooms for home-based, mobile and small businesses not requiring actual office space. Additional services include scheduling, order taking and call routing – as if you were there.I recommend: Try DaVinci Virtual Offices or The Regus Group
Tips & Tactics
Helpful advice for making the most of this Guide
- Costs per month may be based on how many people will work in your office space or on square footage to accommodate a certain number of workstations. The rule of thumb is 175-250 square feet of space per person.
- Premium offices may offer IT infrastructure, videoconferencing and other technology services.
- To downplay the presence of other companies in the building, owners may restrict tenants' signage.
- You can reduce your costs by sharing space with another business.
- If you anticipate going through business changes, take a shorter lease.
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