Office Space For Rent In NYC
NYC is a highly populated city with millions of individual and business clients. Due to being a prime location for business, looking for an office is sometimes a daunting task. Luckily, buildings are always looking for new tenants in the city, and office space is usually available for business. Below is a quick guide to help you make the right choice.
Determine the amount of space you need for your business
Commercial space for rent is usually measured in square feet or meters. You must be sure of the amount of space you require for your business. In the calculation of the total area, consider the reception area, pathways, the kitchen, boardrooms and office, IT room and extra space where new members of the staff can set up their desks. Do not lease too small of an office space, as it will be uncomfortable. On the other hand, too large of a space is a waste of money.
Location is vital
The choice of the office location should consider the ease of access by your clients, easy transport by the staff and location of other services such as postage and banking from the building.
Consider your office layout
Office layout plans range from hot desks, open plans to office cubicles among others. Think of the kind of layout that is good for the business and keeping your staff happy. Think of the future needs of the business regarding the layout and see if the office can still accommodate some changes.
Look at the cost
Commercial space is more expensive in one neighborhood than that of a similar size office space in a different location. Make a choice depending on the target clientele, the type of products you create and your budget. If you are an early-stage startup, consider renting out space at an incubation center. It has most of the office facilities at a cheaper cost.
In the same line, consider the full cost of rent plus setting up your new office. There may be the cost of installing furniture and fittings, moving expenses, construction costs and so much more. Some real estate brokers do not give the full cost of leasing the space. You may be shocked to find hidden costs in your first bill. Ask for the hidden costs if any and what you will be paying for. You may also hire a professional broker to help you understand the total cost outlay.
Is the office space ADA compliant?
Ensure that the building is compliant with the Americans with Disabilities Act and that the property owner is responsible for that. This is because resigning the office to be compliant could be a little expensive. For example, the doors to the office suites should not be less than 32 inches wide and easy to open. The carpets that are placed in the open areas should be secured to the floor.
How secure are the rental rates?
You do not want to rent a commercial space and establish yourself only to find that the owner is renting it to someone else or increasing the rent abruptly. Negotiate with the landlord to include an option for renewal of the lease contract. You can also set a cap on the increase of rent so as not to exceed a stated maximum. This saves you from the shock of receiving a bill for extremely high rent and having to abruptly move.
Can you sublease your office?
You can sublease your extra space to bring down the cost of the office rent. Most subletting agreements are meant for a month after the other and either party can cancel at any time. You can also set up a coworking space where you charge other businesses to share your office space. Once the business requires the extra space, it will be profitable enough to pay for the total rent.
Work with reputable real estate agents
Seek the assistance of agents that have a proven record of accomplishment in getting quality office space for their clients. Reputable agents have linkages to many real estate companies in NYC thereby increasing the chances of getting you the ideal office. Ask around from your network some of the agents that do a good job. Once you have a few contacts, check what their former clients are saying online. A good agent keeps their promises and helps you save time when looking for an ideal NYC office space.
Finally, ensure that you do not end up with a bad landlord. Just like a bad boss, the landlord will make your life and that of your employees miserable. Talk to other tenants in the selected buildings to find out their experience with the landlord. You need a landlord that fixes things on time and does not cause trouble every time he is on the premises.