Office Space For Rent
What Factors Should You Consider When Looking for Office Space for Rent?
Many people have never rented space before, and as such, have no idea what they need to consider as they go about searching for the perfect work space. Here are some of the key factors to keep in mind as you search for an office space for rent
The Real Cost of an Office for Rent?
One of the factors that you need to consider when you are looking at an office for rent is the total occupancy cost for the space. How much space will you need to rent for your business is a big contributor, as you need to allow for little used space like meeting rooms, staff kitchen and dining, bathrooms, interconnecting spaces like hallways, receptions and break-out spaces. Then you need to allow for growth during your term of lease or rental, typically 20%. Then remember to include your office outgoings on top of the office rental. Unlike residential renting, most people don't realise they have to pay the landlord's costs like insurance, rates, maintenance and upkeep, air conditioning servicing four times a year, building warrant of fitness. Lastly you should include office running costs (OPEX).
See here for a realistic office for rent comparison vs a Hastings HIVE serviced office.
Renting our HIVE shared space at just $11 per day per desk is less than half the occupancy cost of a typical office.
Do You Have to Sign a Lease for the Office Space?
Another important element to consider prior to obtaining office space is whether you need to sign a lease for the office space and how long the lease period is. Many shared or co-working office spaces do not require you to sign a lease, or only require you to sign a month-to-month agreement. You are not tied into a long tenancy, which allows you to rent a larger space sooner if your business takes off and you need more space, or allows you to terminate the agreement when you find you no longer need office space.
Read here for an account of how a simple office lease can turn bad for unwary business owners.
How Many People Are Sharing the Office Space for Rent?
If you are looking into co-working or shared office space for rent, a key factor to consider whether it is a dedicated space, or office or desk. Some desks are dedicated for you, some shared (called hot-desks). Some offices are dedicated to you and your team, so you can close the door and have a quiet, peaceful place to yourself. Other spaces may have as many as 40 people sharing large banks of desks or long tables, working side-by-side. The more people that share the space, the cheaper the space typically is. However, some people cannot concentrate with a number of people working around them. Consider what your needs are and then look for a set-up to suit your business needs.
At Hastings HIVE we have dedicated desks in our large shared i-desk area. A dedicated desk is more hygienic and allows you to leave your work things like a large screen and keyboard out and ready to go.
If you require multiple desks you can choose a private serviced office suitable from 4 to 18 people.
Both are based on a desk price of $11 / day / desk.
What Amenities and Services Are Included in the Office for Small Business?
As you look for small business office, the amenities or services that are included with your rental are important to consider. Is there super-fast resilient internet and Wifi? Are there connected printers and copy machines in the building? Are there meeting rooms and video conferencing facilities? Is there a reception for clients arriving at your office? What about espresso coffee, sparkling and still water fountains or kitchen where you can heat lunch? How about showers and lockers for lunch time exercise or freshening up after a walk/run/bike to work? Consider the amenities that will make your life easier, then make sure you know whether the costs are included in the price.
Hastings HIVE amenities can be found here.
Hastings HIVE services can be found here.
Hastings HIVE extras can be found here.
The Location of the Office for Rent?
Lastly the location of the office for rent needs to be considered. Many people prefer to select an office for rent so they do not have to travel far from their home. Staying near your home may also allow you to walk or bike to your location and reduce the need for paid parking. Consider how convenient and accessible it is for you, your staff and customers.
At Hastings HIVE, we provide both coworking desks and serviced offices for rent right in the CBD of Hastings, the commercial centre of the Hawke's Bay. Strategically located near public transport, and on Queen Street where most service consultancy businesses are based. We have a convenient private carpark on-site and public carparks close by. And we have our own bike shed with power outlets for re-charging e-bikes and scooters.
Or contact us directly to view the most modern, corporate, high-tech, friendly and lowest cost space in the Hawke's Bay.