You are on the cusp of making your dream to open a business a reality. While looking for office space, you find there are a number of options available to you, especially in Australia’s commercial real estate economy. Whether working in the city or on the outskirts, Melbourne, Sydney, Brisbane and other great Australian locals offer professionals almost smorgasbord of options where office rentals are concerned.
The trendy enclaves that make up the tech industry can be a great place for start-ups, and if you want to move uptown toward the business district, the corporate vibe will add some class to your business. However, in choosing office space, other factors can really mean the difference in the type of experience you have and how much business you are able to generate.
To learn more about how to choose the right office space for your business needs, continue reading below.
Among the various types of leases, alternative leasing is increasingly being chosen over conventional leases. Conventional leases either ask renters to pay one sum at the end of the month and include utilities or ask renters to pay a lower sum, but renters are responsible for paying the utilities, which decreases your monthly rent. In addition, conventional leases tend to ask renters to put down a deposit making the initial start-up costs increasingly expensive.
Alternative leases (virtual office, co-working spaces, and the serviced office) provide those start-ups, those who are self-employed, and those who are on a budget the opportunity to lease premium office space at a reduced price. Click on Servcorp Australia’s website link to see the various plans one popular company provides its customers.
These leases are more affordable, but they also furnish the space and provide the business with needed office amenities. These leases are also great for those who work remotely or who do not know how long they plan to be in the area.
Location is a great factor in determining how much traffic your business gets. Depending on your industry, it might be better for you to lease space that is closer to the city, which has many advantages of its own. Other businesses benefit from being located in high-traffic areas where surrounding businesses can feed into their own business. Often, you might find areas that are industry-specific.
Also important in choosing a space is whether the location is within distance of your office. Transit, parks and restaurants are sources of foot traffic that can potentially feed into your business. In addition to the businesses that comprise the area, these factors play into determining where you want to set out your shingle.
Another big consideration business owners need to make is related to the amount of space you need in order to operate your business comfortably. Those searching for an office should plan for 10-12 square metres per person, excluding space designated for office furniture and equipment. For those planning to remain in the area for a longer time, keep in mind you want to calculate for growth, so that you do not find yourself pushed out of your office due to growth.
Carefully go through the leasing contract to make sure you understand even the most minor details. In addition to the monthly overhead, for example, make sure to consider office plans where maintenance and other costs are taken care of by the landlord.
When talking to leasing agents, clarify what areas are the responsibility of the maintenance company and which ones are the responsibility of the tenant. By knowing ahead of time what you potentially might pay for, you can avoid problems later after signing the lease.
Finding Your Best Office
Finding office space in one of the most beautiful countries in the world does not have to be difficult. Australia’s commercial real estate landscape offers business interests many opportunities to get in on great deals. By matching your business’s needs with some of the above factors, you can walk into the perfect lease in no time.