What to Consider When Picking Commercial Space for Rent in Austin, TX
Congratulations on taking the daring step to become an entrepreneur. But do you have office space ready to go? When looking for commercial space options, remember you need the right environment for your management, administrative, and marketing activities to take place.
Whether you are starting, relocating, or expanding your business, picking the right commercial space is invaluable. However, finding commercial space for rent in Austin, TX is not a piece of cake. There are multiple factors that you ought to consider before making the final decision.
For example, did you know the average rent for offices in Austin was around $36 per square foot in 2019? That can be significant, considering the size of your business. You can’t afford to make the costly mistake of picking the wrong commercial space options.
What are the specific features to check for when choosing a commercial property for rent in Austin? Here are some factors to help you pick a suitable Austin office space for lease.
Location
Do you know the location of your business will significantly affect its growth? When renting commercial space, location is key.
What kind of business do you operate? Do you expect customer and employee walk-ins?
These questions help determine the right location for your business. You want to make your business easily accessible to everyone who needs access to it. The right commercial space location should be located near your customers.
Do you need a central or remote business location? When renting space for businesses, choosing a remote location doesn’t matter if no customers are expected. However, if the flow of clients is expected on a daily basis, you might need to think about picking a remote location.
In addition, check on the amenities provided in or near the commercial space.
Is the neighborhood safe? Is there ample parking and accessible public transit? What about a coffee shop or restaurant for your employees?
You also don’t want to choose a space close to a busy highway or railway if your employees need concentration.
Depending on the type of business you run, you should also determine exactly where your business will be within the property. If you expect many clients, such as in a clinic, salon, or grocery store, you might want to have your physical location on the ground floor.
However, if your business is online and only requires desk-work employees, then any location within a building should suffice. Remember to take into consideration handicap accessible locations.
Check the Price
You already have a budget for the amount you wish to spend on rent. A budget is essential when determining commercial space options within your price range. However, come up with a reasonable budget if you wish to get a suitable space for your business.
Commercial spaces at prime locations, such as central business districts, are likely to cost more than those in remote areas. Also, a less secure neighborhood is likely to be much cheaper than a secure one. You must pick a space that strikes a balance between your must-haves and the price you can realistically pay.
Choosing a costly space can easily lead your business to financial turmoil. If you are a startup, pick a low-to-mid rent range until your business picks up. However, a well-established business can opt for high rent areas, since they already have the capital.
When evaluating the price of commercial space, don’t forget extra costs such as cleaning, water, and electricity.
Services and Facilities
Does the space offer all the services and facilities your business needs to get up and running? Imagine renting a space, only to find out after signing the lease contract that it doesn’t have an internet connection.
Don’t hurriedly choose an office space; create a checklist of the crucial amenities, facilities, and services that are a must-have in the space you are renting.
After setting up your business in your new office space, you should be able to operate smoothly and without any interruptions. If you find there are interruptions, such as excessive noise, contact your landlord immediately.
In addition, services and amenities will affect your employee’s motivation and productivity. Think about your employees having to work in a noisy place without air conditioning during hot summer months. Such an environment might increase the rate of employee turnover within your business.
Check on details such as security within the building, neighborhood crime statistics, internet connection, air conditioning, and CCTV surveillance availability.
Lease Terms
Before signing a commercial lease agreement, do you fully understand the terms? You don’t want to be legally bound after signing a bad lease. Check through the terms and conditions to confirm they are friendly to your business.
If it is a long-term lease, work with a lawyer who will help you understand the terms and conditions of the lease. They can check to see if the terms of your lease comply with your specific needs.
In addition, you want to check details such as the duration of the lease and break-lease fees, when applicable. Do you need the lease for a few hours, days, or months? Your business goals and needs will determine the time period you need the space for.
Furthermore, you don’t want to lease a commercial space for a month when you only need it for a few days.
Regardless of how great the location is, a bad lease can hinder your chances of establishing a successful business.
Choosing a Commercial Space for Rent Austin, TX
Commercial space is more than just a physical location for your business; it impacts every aspect of your business. It’s vital to review all the factors influencing the functioning of your business when picking a commercial space for rent in Austin, TX.
Here at Austin Office Space, we simplify your search by providing you with a list of available commercial spaces based on your needs. After you have identified a retail space you like, we will organize office tours for you.
Contact us if you need to rent a commercial space today.
