Common Mistakes to Avoid While Taking an Office Space for Rent

The trend of shared office spaces has fast caught up, especially with the start-ups and small businesses. However, while choosing a furnished office space, they often end up making certain mistakes, which cripple their growth. In fact, the price for renting office spaces is one of the major expenses of a small or medium size company. Therefore, doing things the wrong way can take a heavy toll on the finances of the company, especially a young one.

Do not make an impulsive decision

Renting coworking spaces in Mumbai is an important decision and should be decided very practically. The decision should also involve a bit of emotion as it is the matter of feeling comfortable and convenient in a working space. The employees are going to spend a lot of time there. Moreover, you should also check whether the location is in proximity to public transportation systems of the city. Remember, choosing an office space for rent should not be done in hurry. The decision should not be the matter of an hour.

Do not book a space online

If you are planning to book a space just by looking at the listings on the search engines, stop! The search engine results will show a list of available space listings and not much detail is available. You can take the listings as teasers and a convenient way to gauge the market as well as the location. However, to take a space on a lease, this information is not enough. You must visit the place or the building in person and check its amenities and facilities. In fact, before finalizing a deal you must visit more than one site and compare those.

Don’t go alone

You must remember that when it comes to choosing a business centre in Mumbai for setting up your office, there are thousands of square feet of spaces available to you. There are also dozens of lease clauses to choose from and too many variables to consider. So, it is always advisable to take someone else along with you to check the available spaces and cross-check the documents. By doing this you can be double sure of the deal you are finalizing. You will also be in a better position to negotiate on the price with the landlord. The person going with you might also be able to notice if there are any hidden costs in the deal. You can discuss and get to the final decision.

Start well in advance

You must start searching for available office space for rent at least 6 months prior to the time when you are planning to set-up your office. This will give you ample time to check different spaces and gauge the demand of the market. You will be able to choose several options from the hundreds of spaces available. Thus, you do not only get ample time to negotiate, but also find the most suitable deal.

Above all, remember that renting office spaces is a big decision and should not be taken in a hurry or impulsively. Understand how it works and check all the available options before taking a space on a lease. It is going to be the physical address of your office for at least a few months and it’s going to create an impression in the minds of your business partners as well as customers. So, be careful.

About Sumit Chandan

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