Small Office Space for Rent in Singapore – What to look out for?
Everyone wants to save money, time and stress. It doesn’t matter if you are starting your business for the very first time; you need to ask yourself a few questions. The following points and issues will help you get started.
How Long Does It Take To Secure An Office Lease?
This is the first question that everyone should ask before moving into a new office. The question will push you to plan your time well when looking for a place for business.
Typically, three months is the minimum amount of time that you should set aside when looking for a suitable office space. You should always consult experienced and knowledgeable agents who are active in the area you are looking to move to. They know the ins and outs of properties in the area and act as an extra pair of eyes to help keep a lookout for potential blind spots. However, you should always be cautious dealing with agents who are related to the landlord in one way or another, as they may act against your interests and in favour of the landlord.
One of the most important reasons why you should start looking for your new office in advance is because of renovation. However, if you manage to find an office space that is reasonably furnished to your expectation, then you can save yourself some precious time and headaches. Another reason you want to look for your ideal office space early is so that you do not find yourself on the verge of being chased out by your current landlord when the lease expires. When that happens, you will find yourself in a desperate position and may potentially make the wrong decisions on the negotiation table with the landlord.
Point of Contact
While it is essential to visit the place you are considering to rent, you may not be able to discover all the defects. Therefore, it is very important for you to know who you can turn to for assistance after committing to an office lease.
When it comes to matters pertaining to tenancy, your agent is your best friend. Real estate agents may show you around and they can help answer your questions or find out the answers to them. When the contract has actually started this person may no longer be your first point of contact.
It is highly advised that you get in touch and meet with the landlord or someone who manages the workspace. This person will be able to respond to specific concerns, albeit not related to the tenancy, and will be someone you want to develop a good working relationship with. In addition, he is someone you can verify information, shared by the agent, against for any inaccuracy, irregularity, or additional information the agent may have missed out.
When renting a shared office, always find out how much it cost to use the conference room, if it is not complimentary. The cost of using the meeting room may not matter as much if you do not see yourself using it regularly. However, if you foresee you will be using the meeting room often, make sure its rental cost is as low as possible, if not free.
Do not rent a space that is very affordable only to realise that the usage of the meeting room eats deep into your budget. Whenever possible, look for a business office with complimentary usage of the meeting room to avoid any bill shock at the end of the month.
Accessibility to Public Transport
Remember, you are not the only person going to the office to work. Your staffs have to come to the office to work every day too. Thus, it is very important that you spend some time finding out where is the nearest MRT station and what are the buses that ply the roads near the location you plan to rent. A happy worker makes your customers happy too!
You should also be considerate of the needs of your employees. They need to have their meals and occasionally do their shopping on their way home.
Make their lives easier by ensuring that your new office is near canteens or foodcourts that serve a variety of food and supermarkets, whenever possible. Likewise, find a location that allows them to accomplish their work with ease by having post box, banks and even suppliers near to your office.
Always find out which facilities are included and which are not, especially when renting a shared working space. This will help you to plan your budget and decide which equipment you need to purchase. Some services or facilities essential to your business may not be very relevant to other tenants in the same shared working space. That’s why it is important to identify if there are any hidden costs such as cleaning, air-con maintenance, electricity and internet.
Discuss and when appropriate, negotiate, these costs with your office provider before you deciding to lease. Point out the additional facilities and services that you may require and see how your prospective landlord can meet your requests.
What Are Your Needs and Wants?
The points above serve as a guide and by no means an exhaustive one. Penning down your priorities and preferences will give you clarity and help you get the most out of your new office lease.
Sometimes, you may also find yourself changing some of your priorities in favour of your employees and clients. It is always a good idea to put your employees and clients before you when formulating any business plan. However, do not wait until you are caught up with time. When caught in a desperate situation, you may end up agreeing to sign in with every issue that comes his or her way.
Plan your time well and define your requirements clearly first before deciding on an office space.