Choosing an Office Building for Rent: 7 Key Factors You Need to Consider

Are you a small business looking to rent an office building?

Choosing an office building for rent to house your business is a huge decision. There’s so much you have to consider, from the way the building is laid out to the way your business could grow in the future.

Getting it right will mean your business can function comfortably day-to-day and grow at a steady pace. Getting it wrong will mean that you’re sacrificing productivity and your near future won’t be certain.

In this post, we’re going to help you out by giving you the 8key factors that you’ll need to consider when choosing an office building rental. If you’re feeling overwhelmed, read this and give yourself a roadmap for finding the perfect office building. Then call an experienced broker such as Austin Office Space to help you sort through the many details.

1. Location for Employees

Finding a building that isn’t too far away from where you currently operate is generally a good idea. You don’t want to suddenly create commuting issues for your staff. If they’re used to taking the bus for 30 minutes, then you move offices and the commute is 90 minutes, retention will be strained.

Of course, do your best to be accommodating, but you have to strike a balance between your company’s needs and what’s good for each individual. The best thing to do is to keep your employees in the know as soon as possible when you decide on a location. This way they’ll have time to sort things out.

Austin Office Space can help you put together a heat map of current employees’ locations and can help you sort through the best location for your particular needs.

2. Rental Price and Budget

Decide how much rent you can afford and compare that with the prices of some of the buildings in your area. This is where working with a tenant broker can really help you, as they’ll have access to the available market and can help you negotiate for the best rent and costs. 

It’s hard to estimate rent prices without a strong understanding of how much space you’ll actually need. Try to map out your new office layout as best you can to give yourself an idea, then communicate these needs with your tenant broker.

A company like AOS will analyze your needs, not just now, but in the long term as well. With this information and your budget, we can find you the best office space in the area.

3. Size and Layout

Size and layout will depend heavily on what kind of business you run and what your plans for the future are. The amount of space per employee varies greatly from business to business and we can help you estimate for your current and future employee base.

Break it all down by room and think a lot about what employees will be in what spaces. You also need to factor in meeting rooms and common spaces where you can hold meetings and have clients visit.

We’ve mentioned it already, but looking at your growth projections for the next few years can help you get a sense of how much extra space you need to account for. If you want to avoid moving your business again in 5 years, then it’s a very important aspect of getting the best office building for rent.

4. Looking at Lease Term

You’ll also want to consider how long you plan on spending in this building. A typical lease term for an entire office building would be 3-5 years but could be more or less depending on what you’re looking at.

If you’re in the early stages of your business, you may not be very certain about the future. Getting locked into a 5-year lease isn’t a great option for this type of business. However, for a more established company, this is often a very reasonable term and can help lock in today’s market prices.

5. Availability

Renting an office building is nothing like renting an apartment or even a unit in a building. It’s going to take longer than you think, so it’s best to start the search many months before you actually need to move in.

Of course, this depends on your own needs, but it has a lot to do with vacancy rates and the market in the neighborhoods you’re looking at. Working with a tenant broker can give you the best chance to find a building quickly, but still budget anywhere from 6-12 months to find the ideal rental.

6. Condition of the Building

When you’re touring different office buildings, make note of each one’s infrastructure. How set up is it for your business to move in and start working?

You’ll need an internet connection, phone service, and the right amount of power to house your equipment. Many rental buildings will have utilities accounted for already, but if it’s not, that’s an extra expense and a lot of extra work to consider.

7. Does It Suit Your Style?

The style probably won’t be the first thing you prioritize for your office rental, but it’s important for some. If the building doesn’t fit with the aesthetic qualities you need your business to possess, then it’s not worth renting it for the next few years.

At the end of the day, branding is one very important aspect of running a business. To build a great brand, everything has to be in lock-step and that includes your building. 

If you’re able to make adjustments to the office building, like painting and art installations, then it could be a good option. Not every office building owner will be up for it, so if it’s part of your plans, then you’ll need to ask about it.

8. Work With an Expert to Find an Office Building for Rent

If you’re thinking about how to rent an office building for your business, these are some of the important things to consider. What they all point to in the end, however, is that it’s best to work with a tenant broker if you want to find the right building.

If you’re looking for an Austin office building for rent,  contact us at Austin Office Space. We’re one of the top exclusively tenant brokers in the city, so visit our website to learn more about us and how we can help you find a home for your business.