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Things to Consider When Renting Office Space
Whether you’re renting office space in Albany, NY or anywhere else, the same principles apply. Here are our top 4 tips.
The commercial property search can be a daunting task. After all, there are many offices for rent in the Albany area. How do you decide which office space is right for your business? The following is a short guide to finding the perfect commercial property rental or an office space.
1. First impressions count! Does the office have a clean, well-maintained entryway and is the landscaping attended to? If you have a client come to visit you, you want them to feel comfortable and receive a professional impression. The same goes for your staff. Walking into a neat and clean office space is much more motivating than entering a dirty building.
2. Location, location, location. If you’re interesting in renting office space in Albany, NY, a location such as Great Oaks or Corporate Plaza offer the convenience of proximity to major shopping centers and transportation arteries, without the hassle of downtown congestion or higher rent! Also consider safety. Would an employee feel comfortable working in the building alone, or walking to their car after dark? Our properties are always well-lit and our buildings are locked after-hours for employee safety.
3. Amenities: What restaurants, coffee shops and other businesses are available on premises or nearby? Commercial property for rent is much more valuable if it is located near services that employees and visiting customers can enjoy. At Corporate Plaza, on-site amenities include a delicatessen and outdoor picnic areas. At Great Oaks, tenants benefit from common area lunch rooms and vending areas in each building, a 2/3-mile walking/running trail, and picnic benches in a shady alcove. Additionally, the offices are also located 1/2 mile from shopping and restaurants at Stuyvesant Plaza and Crossgates Mall.
4. The lease. Signing an office lease is one of the largest commitments and liabilities of your business. The average length of a commercial property lease is 5-10 years, so you should keep in mind your business’s plan for growth and needs over the next decade. Have a conversation with the owner of the commercial property about how much expansion space is available. When planning out the terms and length of your lease you should keep in mind that it’s prudent to select a budget based on current cash flow, not future projections.
This is just a place to start in your commercial property search. You should also consider visiting offices for rent that appeal to you in commercial property listings and speaking with tenants at the property. Find out how satisfied they are with their commute, the terms of their lease, and the management.
If you are interested in renting office space in Albany, NY, please check out a list of our available spaces.