4 Things Small Business Owners Should Know Before Renting an Office

For many small business owners, renting an office is a sign things are moving in the right direction. However, when renting an office, there are plenty of things business owners need to know. Considered one of a company's highest expenses, it's critical mistakes be kept to a minimum during this process. To make sure all goes well when it's time to rent an office, here are four of the most important points business owners should keep in mind.

Don't Make an Impulse Buy

Because renting office space is a large expense, it should not be made based on emotions. Even if you fall in love with a space, don't let yourself get talked into signing the papers on the spot by a landlord who's eager to rent as quickly as possible. Instead, make sure the location suits your needs and is a price you can afford.

Check for Asbestos

Even though a building may look modern, it could still hold some older materials that could pose a problem down the road. One of these is asbestos, which if left inside a building can pose a severe health hazard to everyone occupying the building. Therefore, before renting any office space, it's always smart to have it checked for asbestos and any other harmful materials. Professionals, like those at Mendelssohn Construction, know that if asbestos is found to be present, it's best to move on to another location. Asbestos is not something most business owners want to deal with.

Lease Term Flexibility

Depending on the size and type of office space you're wanting to rent, it's always smart to work with an experienced commercial broker to make sure you'll have plenty of lease term flexibility as a tenant. In most cases, if you're looking to rent more than 2000 square feet, having a broker by your side is a must. Not only are they aware of hidden costs often associated with renting, but they can also save you up to 25 percent on your monthly rent.

Do Your Research

Rather than rely on a small sampling of listings, do some research before choosing your office space. Don't make the mistake of simply going online to sites such as Craigslist, seeing something you like, and calling up the landlord right away. By taking your time and knowing exactly what you want, you'll do yourself and your business a huge favor.

By understanding your options and how the commercial rental process works, you'll be sure to get a much better deal.