Taking Office Space for Rent: A Few Useful Tips

The concept of a shared office is viral now and most of the small companies and start-ups are sharing spaces instead of investing in their own private niches. This is not just an economical solution, but also helps to coordinate and co-work within a single space. The practice of sharing a virtual office space is known to have increased cooperation and tolerance among employees. They are learning to be helpful to each other and are participating in each other’s activities, which in turn is helping the respective organizations to grow and prosper. Sharing spaces, in fact, has become an important business decision for all start-ups as well as small companies. However, there are certain things you need to be careful about. Here’s a list:

The neighborhood matters

India has well accepted the concept of coworking space and there are thousands of enterprises that have embraced the idea. But before you take an office space for rent in Mumbai or in any other city, check the locality. Find out whether the people of the area are gullible to anti-social activities. Check the security features installed in the building too. Taking an office on lease on a safe area is ensuring the safety of the supplies and equipment as well as your team members.

Assess the place properly

Never agree to sign the lease agreement on the first day of your visit to the office. Visit the place two or three times and find out details of the companies that have shared spaces there. Moreover, there could be certain drawbacks of the place as well as the building or the floor, which you might overlook in your first visit. This also leaves you enough time to look for another office on rent in Mumbai and compare the two. Finally, after checking all the features and considering all the advantages and drawbacks, you should agree to sign the agreement.

Go through the lease agreement properly

As you are planning to take a virtual office space on lease, you should go through the agreement properly. You need to check whether the clauses and conditions of the agreement are in your favor. In fact, while choosing a co working space one must check the cancellation clause carefully. After a few months of working in a shared space, you may want to shift to a different location with a larger space. Thus, the lease cancellation policy should be favorable enough for such changes. You should always discuss the exit clause with the respective lease provider. You need to check whether there are any penalties for moving out before the completion of the lease term.

Ensure the accessibility

If you are looking for a new shared office space for your company, you need to check the accessibility of the place too. Taking an office on lease on a remote location may be economical. However, it would be inconvenient for the employees to reach the spot. Thus, it won’t serve the purpose. So, look around for available civic amenities in the area.

Have a budget in mind

You must assess the current prices of the area and find out the average cost of renting or leasing a shared working space. This will help you to make a budget for the lease. Now, it will be convenient for you to look for options in a particular area.

Keep these pointers in mind while looking for a co working space. You will surely be able to make a great choice!

About Sumit Chandan

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