Top Tips when renting commercial office space

Top tips when renting new property

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1. Give yourself enough time to plan your move

Many top companies underestimate how long it will take to find the perfect commercial office or industrial space and reach a reasonable rental agreement with the landlord. As a result, you can end up rushing through the process and may miss out on the right commercial property or end up with a bad deal that you are stuck with for anywhere between three and five years. Start your property search process as early as possible. Depending on the size and specific requirements, it is best to start the process up to 12 months in advance. This will give you enough time to find the right space, negotiate the right deal as well as fit-out or renovate the space in time to move in before your current lease expires. Take note of holidays, many landlords as well as construction companies close over December, and you wont get much done.

2. Choose the right Commercial Property Partner to help you

Making sure you partner up with the right commercial property brokerage is crucial during every phase of the office space search or leasing process. Your Property Broker can get you into exclusive spaces, recommend locations that are ideal for your specific business needs and give you an edge at the negotiation table. Best of all, our services are paid for by landlords, and wont cost you a thing.

3. Get your office space requirements right!

Leasing too much, or too little Office space will cost your business in the long run. Engage with a space planner and office designer to help calculate the ideal space required for your business, taking into account any growth planned for the future. Here at Rent Space, we are able to offer you a fully inclusive service, from negotiating your existing lease, to finding you the right space, getting you the best deal, and assisting with all space planning and office renovation needs. We have successfully helped hundreds of business to lease the right space. Check out Space Planning Tips

4. Consider the Lease Term carefully

A long-term lease will give you leverage at the negotiation table with the landlord and can help you get more of those "highly desired" and "would be nice" concessions. Still, if your company's future is uncertain, a long-term lease just may not be practical. A long term lease keeps the landlord happy, but also encourages them to offer you benefits such as rent free periods, additional support in fitting out your space, or reduced escalation rates. Short term leases however mean that you have very little negotiating power, and may have to carry the full fit-out cost for the premises.

5. Get your whole Team on board

Get your team on board, especially when thinking about choosing the right location. Things like access to public transport, highways or even access to shopping centers all have an impact on your staffs morale, and getting their buy-in for a new location. We are happy to take you and your team on site visits to showcase the very best commercial spaces in South Africa. Your business location is often a very important factor that people consider when looking to join a company. Sometimes the right location or look and feel will help to attract the very best employees, as well as keep the good ones happy and content. Choose the right are for renting commercial property

6. What does it cost to move spaces to a new premises?

Moving to a new commercial location is a very costly exercise. Carefully look at the reason you are wanting to move. If you are looking to lease a much less expensive premises, you need to factor in the total  cost of moving to a new location. This becomes especially important if you are moving into a new premises or a white box space, where you need to fit-out the offices. Factor in the capital cost of this process and then compare to re-negotiating your existing lease If you would like more information on renting commercial property, we have branches in Johannesburg and Cape Town, and we have a property professional on hand to answer all your questions.

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