7 Steps to Launching a Business From Your Rental

You’ve always wanted to work from home and be your own boss - but you’ve been waiting until you’re ready to buy a home to try to make this dream come true. You don’t have to hold yourself back any longer, even if you’re living in a rental! With the right approach, you can run a business right from your rental. You might have to get creative in a small space, but with tips and advice from IdeaCafe, you’ll be ready to launch a business as a renter. Here’s how to successfully run your business from a rental with limited space.

Choose the Right Apartment

What if your current apartment is genuinely too small to accommodate a home office - but you aren’t in a good position to buy a home at the moment? It might be time to move into a larger rental. You can use an online rental search platform to check out available listings in your area. You’ll be able to set specifications for your search, such as your budget range, the number of bedrooms and bathrooms you need, and even the type of rental you need. For example, you could search for an apartment, condo, or an entire home.

Check Local Zoning Laws

It’s entirely possible to run a viable business from a rental. However, there are some business models that will not work for this arrangement due to zoning laws and common lease regulations. For example, while you can easily run a business involving making and shipping crafts or homemade baked goods, you will not be able to run a retail store or restaurant out of your rental. If you have any concerns about the legal status of your business model, go over your lease carefully and check in with your landlord to clear up any uncertainty.

Form an LLC

When you’re running a business from home, it’s easy to feel like you can skip out on certain formalities, such as registering with a particular business structure. While filing for LLC status isn’t legally required, it’s still a great idea that can net you lots of benefits. This is the simplest way to protect your personal assets if your business runs into a financial emergency. Furthermore, this won’t require much paperwork, and you’ll be able to save on your taxes!

If you’re confused about how to establish your company as an LLC, you might feel like you have no choice but to turn to a lawyer. But it’s often easier and cheaper to work with an online formation service. Since every state has its own set of regulations for establishing an LLC, a formation service will ensure that you submit all of the right documents.

Design Your Home Office

If you’re running a business from home, you will need a home office where you can comfortably work for long hours. But if you live in a small rental, creating a practical office space can be challenging! Think of it as a fun project, and push yourself to think outside the box. Star Furniture recommends using a reach-in closet to set up a writing desk, utilizing a lift-top desk so that you can store supplies, technical tools, and paperwork in it when you’re not working or using floating shelves to turn your wall space into storage space.

Keep Your Space Tidy

When you don’t have much room to work, you simply can’t afford to be messy. That’s why tidying up your workspace at the end of every day is key. In addition to cleaning up your supplies and keeping them in designated spaces, Small Business Trends recommends using digital documents rather than holding on to paperwork whenever possible.

Take Frequent Breaks

As a business owner who works from home, you might start feeling cooped up during the day. And when you work in a smaller, rented space, it’s important to stretch your legs once in a while! Head out for quick walks during the workday to break up the hours.

Set Appropriate Boundaries

Working from home can make it hard to distinguish between your business and your personal life. You might feel like you can’t truly end your workday - there will always be someone trying to contact you. Putting your phone on silent and turning off your email notifications at 5 PM each day can help!

Renting does not have to stop you from diving into entrepreneurship. While there are some business models that simply won’t work in a rental, there are still plenty of possibilities at your fingertips! With these tips, you’ll be able to find a suitable rental for your entrepreneurial pursuits, form an LLC for your business, and create a home office in a small space.

Are you struggling to come up with a viable business idea? Find your inspiration from IdeaCafe! Sign up today to become a member and check out our small business resources.

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