The office space sets the impression you want your employees and clients to have about your business. It also significantly impacts work productivity and business success. Hence, finding a workspace for rent that supports your business needs and identity is extremely important.
To assist you in your office-finding journey, here are the key factors to consider when finding the best office space for rent in the Philippines.
Factors to Consider when Finding the Best Office Space for Rent
1. Location and accessibility
The right office space is where your business will thrive the most. Consider what you offer and find your target market. What places do they frequent? Do you need to be in or near a central business district (CBD), within walking distance of schools or homes?
Besides understanding your client’s needs, you’ll also need to consider its accessibility to your employees. It must have easy access or proximity to public transportation and major roads. The best office space for rent in Metro Manila should also be near food establishments, especially if you have workers around 24/7.
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2. Size and layout: Evaluating your business needs
Office space for rent also varies in size and layout. Generally, bigger areas cost more, but some businesses can still function well, even in small office spaces. Some important questions to ask when thinking about the right size are:
- How many employees will I hire now? In the near future?
- What equipment do I need to help my business function?
- What spaces do I need in day-to-day work? Do I need meeting rooms, private offices, and pantries?
Knowing how many employees you will have will also help decide the workspace layout. Tables and chairs take up space, and it has to be accounted for before settling on a lease. It also determines the need for meeting rooms and communal areas.
Moreover, understanding what equipment you need will greatly impact the size you have to rent. For example, tech companies that need servers will need more space to host them. Likewise, consulting firms need dedicated private offices to keep meetings secure and discreet.
Also read: The Secrets of Ergonomic Office Design and Its Impact on Workplace Productivity
3. Amenities and services: What does your business require?
Amenities are useful features that provide convenience to your business and team. This includes internet connection, break areas, and meeting and conference rooms. These necessities will also affect what office space for rent in the Philippines to take.
Some office spaces for rent also provide extra services like security, cleaning and maintenance, parking, and front desk. They are not standard for all rentals but are great for safety and accessibility.
4. Budgeting for office space: Finding the right balance
Office location and size also directly affect the budget. That is why it’s important to know early how many people you’ll be on board and what equipment you need for your business. And generally, the closer you are to business districts, the higher the rent costs.
More than the rent, you’ll also have to set aside a budget for office setup. Typically, office space for lease doesn’t include any furniture or equipment. Although, you can save money on this by opting for serviced office spaces, especially if you’re a small business owner or a startup. They are already furnished with desks and chairs for your team and some equipment like printers and scanners for your office needs.
5. Contract terms and flexibility: Planning for the future
Any rental comes with lease terms that need thorough consideration before signing. These terms often include leasing duration, renewal options, and penalties for late payments or breaking the contract early.
Typically, longer leases have lower rental rates. However, it limits your ability to move or adjust to changing business conditions.
And while it is better to imagine your business growing steadily through the years, it is equally important to consider the what ifs. Especially when signing longer lease terms, you’ll need to consider whether it will fit your business’s changing needs.
Don’t be afraid to negotiate with your landlord. You can also consult legal professionals to ensure the contract aligns with your business goals.
6. Safety and security: Protecting your business and employees
Another key factor to consider is the office space for rent’s security and safety. Not all rentals have a security guard, but at the very least, it needs to have a working CCTV and well-lit common areas for the protection of your employees and clients.
More than security, the right place also needs to have proper fire safety systems and health standards, especially since the country is still amid a pandemic.
7. Reputation of the building and landlord
Lastly, an uncommon yet equally important factor to think about is the building and landlord’s reputation. This affects the office environment and even the credibility of your business.
Often, prestigious buildings are located near establishments or business districts. In most cases, where your business is located makes a positive impression on clients and partners. This speaks to how much you value your business and how successful and trustworthy it may be.
On the other hand, having a reputable landlord means having well-maintained spaces and smoother problem resolutions. They are more likely to be fair regarding leasing terms and negotiations. They are more concerned with keeping the space secure and safe for their tenants.
Finally, it is easier to work in the long-term with a landlord and in a building that positively benefits your business. So, always check online reviews or speak with current tenants before inking a contract.
Importance of Choosing the Right Office Space for Rent in the Philippines
There are several factors to consider when looking for an office space for lease. And they all affect your business growth, employee morale and productivity, and even your visibility and reputation to your clients. And the right office space gives you these benefits and sets your business up for success.
M Spaces offers affordable, serviced office space for rent to match your business needs. They have three sizes of private offices that can fit 4-12 people, equipped with ergonomic furniture and access to reliable and fast Wi-Fi connection.
Learn more about these spaces and check reviews on Facebook and Instagram. You can also contact us or email info@mspacesph.com for more information on our services.
