One of the most important initial decisions that small business owners face is where to lease office space. Since rent on your physical location is one of your biggest expenses, it is crucial to take your time, understand your options, and decide carefully. Here are five mistakes to avoid when you are leasing office space.

Not Taking Enough Time

Don’t wait until the last minute when you need space for your business office. You should start researching and looking around at least six months before you need to move in. You’ll save money and also have the time to search out an ideal location.

Insufficient Research

Efficiently leasing office space requires knowledge of numerous details such as the prime locations, reputable tenant brokers, possible pitfalls, and legal processes. Learn these fundamentals before you start looking for the right commercial space for your business.

Signing a Lease Without Representation

Leases for the rental of office space can be complex documents that contain multiple clauses, hidden costs, and other variables. To obtain the most favorable terms from landlords, it is desirable to use a good tenant broker to assist you when you are finalizing and signing the lease. Professional representation can often save you a significant amount of money.

Over-reliance on Listings

Although listings on search engines can give you a general idea of the office space available in particular areas, the information accompanying the listings is often not only insufficient, but also inaccurate. These listings may help you get a general idea of the market, but when you arrange to view listings, understand that they may be exaggerations and oversimplifications of what is actually available.

Deciding Impulsively

When you are looking at possible office sites, avoid being swayed by agents of landlords who try to talk you into making a quick decision. Remember that you’ll be spending a majority of your working hours at this place, so it is imperative that you take your time in selecting the most suitable location.

For more advice on leasing office space for your business, contact Overhead Capital Ltd.