Things to Remember While Renting Office Space

Things to Remember While Renting Office Space

Renting office space is a significant aspect of your business that will have an impact on your budget and finance, and also on the performance of your business. If you are looking for office space for rent in Hyderabad, there are a few things you need to keep in mind. There are a few questions to ask when leasing office space. Read on to find out what care you need to take while renting office space.

 

1. What’s the Seating Capacity Do You Need?

When renting office space, it is not enough if you find a place that is just about sufficient for the current headcount. Make sure that the office space you lease out is bigger than what you currently need. That is because you may grow, and hire more people sooner than later. 

If you don’t plan your office space for growth in the near term, you may soon find yourself looking for a bigger one. Not to mention the inconvenience of moving office all over again. All the time and resources you invested in customizing the interiors will go to waste, and you will have to redo everything all over again.

So, for example, if you have 20 people on board, you might want office space for rent in Hyderabad that can accommodate 40 people. Of course, it depends on your budget, and what you can afford at the time. But if possible, go for more seats than you currently need.

If you are renting a pre-furnished office, note that the seat count is given to you by the leaser usually includes the seats in the conference rooms, any interview rooms, front office lobby, cafeteria and others.  Ask your leaser for a break-up of the seats, so you know how many net seats are actually there from an individual workstation perspective.

If you are renting a non-pre-furnished office, take the help of an architect to help you figure out how much space you need.

2. Is the Location Right?

Do you want your office space for rent in Hyderabad to be in an IT park? Do you want it to be in an SEZ?  Why or why not?  Depending on the nature of your business, you may not necessarily need office space in a typical IT park.  Of course, if you can afford it, then that would add to the prestige quotient and make you look good to your clients and even the candidates when you are looking to hire people.

However, IT parks are generally far off from residential areas and if your business does not involve clients visits to your location, then you can also be open to the idea of renting office space in places other than prestigious IT parks. You can save money on the rent and also cut down on the commute factor for your employees.

Check if the area is well connected with buses or Metrorail.  Also, check if there are restaurants, tea cafes and tiffin centres nearby, for the convenience of your employees.

3. What Are Your Infrastructure Needs? 

There are also questions to ask when leasing office space, regarding the infrastructure.  Ascertain what infrastructure you will need in the office. 

  • Do you need a server room? 
  • How many conference rooms do you need?  
  • What about the cafeteria? 
  • Is the place centrally air-conditioned?
  • Is it well ventilated? 

More importantly, think about how much parking space you need. How many people will need car parking and how many will need bike parking?

4. What Are the Amenities Available or Included? 

Check about the basic facilities:

  • Are there enough water resources?
  • Are there water purifier systems?
  • Are there enough lifts in the building?
  • Is there a power backup system?
  • Is there appropriate security?

If it is a plug-and-play office space, then you need to check if everything you need is available:

  • Does the office space have a biometric access system?
  • Are there enough servers for your needs?
  • Is there a video surveillance system?
  • What about Wi-Fi backup?
  • Is there robust data security?
  • Are the conference rooms equipped with projectors and speakers?

5. Lease Process & Terms 

A key point to consider is to figure out how long it will take after signing the lease before the finished office space is handed over to you. Generally, it may take about six months to a year, depending on what the status of the space is at the time of finalising the lease — if it is still under construction or it is a newly constructed building still in the process of furnishing. If it is a ready-to-move office space, you may be able to move in immediately or may have to wait till the present occupants vacate, as the case may be.

You also need to have clarity on what is or isn’t included in the lease, and if you can extend/renew the lease at the end of the term. A broker will most likely be involved in the lease, and sort out the brokerage terms clearly.

If there is an office space, then there is maintenance involved. You need to be clear on whose responsibility is maintenance - the daily cleaning, periodical deep cleaning, window cleaning, and cleaning of common spaces (stairs, corridors, etc).

6. Signage Opportunities 

Find out if you can have your company name and logo on the building. Make sure that people are able to easily identify your office when they reach there.

7. Who Are the Neighbours?

It helps to have other well-established or famous businesses as neighbours.  Ask questions before leasing office space, about the other tenants and what you will need to share with them.
 

8. Vaastu Compliance

Vaastu in purely scientific terms is about ventilation and energy. Therefore, check if the office space has enough ventilation or if it is properly air-conditioned, as the case may be. Also, see if space follows all the cardinal principles of Vaastu. Also, space must exude positive energy.  

That said, you might have questions to ask when leasing office space, pertaining to basic Vaastu compliance: 

  • The office space should preferably be east-facing, and if that is not possible, then west -facing works fine as well.
  • The  CEO’s cabin should be on the southeast of the office.
  • The puja space, (if any), should be west/south facing.