Tips for Renting Your First Office Space

Tampa is hot – and we’re not just talking about the weather. According to a recent WalletHub study, Tampa ranks as the #5 best large city in which to start a business. WalletHub looked at everything from five-year business survival rate to the affordability of office space. So, if you’re making the move to our fair city or launching a business – great! Now, how do you go about renting your first office space?

5 Tips for Finding Office Space for Lease in Tampa

To make sure you maximize your budget and meet your needs:

1. Determine if you really need an office. Can you work effectively at home? Can you use a coworking or office rental service on a monthly basis instead of taking on the commitment of leasing an entire office – and assuming all of the expenses that are associated with this? Take some time to assess your needs.
2. Start your search sooner rather than later. Don’t wait until the last minute. You may be trying to figure out if you really need an office, but that shouldn’t stop you from starting some preliminary searching. Plan on taking at least four to six months to look around for a good space and to negotiate acceptable terms. It is also a good idea to have more than one possibility to consider. This puts you in a more advantageous position when it comes to negotiating.
3. Think “location, location, location.” Choose a location that is convenient for employees and for clients. You need to make sure that you are able to attract and retain quality talent – and proximity helps. You also need your office to be easy to locate for those with whom you wish to do business. Look for office spaces near major highways and/or public transit.

   Also consider the neighborhood. Are there hotels, restaurants, shops, and services (e.g. healthcare facilities, car mechanics, etc.). This appeals to both employees and clients. Just as importantly, is there parking? Nothing is more frustrating than circling the block – and then circling it again – trying to find a spot.

4. Look at your budget – and add some wiggle room. Don’t overspend when renting your first office space. Know exactly what you can spend, and stick to that figure. Luckily, Tampa is relatively affordable for businesses. Build in some extra for items like utilities, data, phone, etc. – but do ask if some amenities are included in your lease. 
5. Scrutinize your lease. Have an attorney review the lease and that you understand the terms. How is responsible for maintenance? For repairs? How is your rent assessed (e.g. do you have to pay based on your square footage? Do you have to pay a portion of property taxes?).

Renting your first office space is an exciting event! If you decide to go with a more flexible, cost-friendly solution, contact Office Evolution. We have private executive offices, day offices, coworking spaces, conference rooms, and more available in the Tampa Westshore area.