What are the important factors to know when it comes to finding the best executive offices for rent? Read the guide below.
Finding Executive Offices for Rent
When moving into a new main office or executive office, there are countless things to keep in mind. Budget and costs come first and foremost, but after that, your considerations expand to addresses and office dimensions, nearby locations, in-building amenities, office layout and design, building accessibility, vicinity to public transport options, and parking.
Finding the best executive offices for rent involves narrowing down your priorities and sorting the options within your budget to the best of your abilities.
Location, Location, Location
When searching within your budget, the first thing that should come to mind is where your new office should be.
An address can make a big impact on people’s perception of your business, and depending on your industry and chosen clientele, the right address can mean the difference between earning a client’s account and losing them to a competitor.
In addition to the address, the right location also comes with other perks – better natural light, a better view, better security, better transport links, and more.
When wrangling a new location for your business based on the address alone, note that you do not have to settle for a commercial lease you cannot afford.
Coworking spaces offer companies the opportunity to pick a premium business address for a fraction of the cost associated with outright owning or renting out a full office in that area, and none of the commitment that usually comes with a commercial real estate lease.
This lets you set up a virtual office at an address of your choice, redirecting mail and correspondence from a coworking space to your private residence, without making your residence public knowledge as the headquarters of your business.
Accessibility, Commute, Parking, and Amenities
Minimum viable accessibility does not always translate into a truly accessible workspace. A ramp built to code and a small elevator may not be enough to represent an office that cares about providing a safe and accessible workplace to disabled workers.
It’s not just about satisfying the ADA – if you want to attract the best talent from all available talent pools, you have to look past accessibility norms, and create a workspace for all people regardless of physical ability.
Commutes and parking opportunities are also important. It’s one thing to find a place with a good view, but how easy or reasonable is it to get to where most of your current team lives? What’s the accessibility like from nearby public transport options? Where is the nearest airport in case a client comes over to visit? Is there a parking building in the vicinity, or does the building itself have sufficient parking?
Surrounding amenities can be niceties that sway the odds in favor of one office choice versus another, when all other things are equal. Nearby restaurants, access to local parks, or an in-building gym are a few useful amenities to consider.
What About a Hybrid Work Solution?
The right physical workspace goes a long way, but if you want to make the most of the move towards a new executive office or location, consider investing not just in your physical workspace opportunities, but in your digital ones as well.
Expand your intranet, invest in a robust company portal that employees can log into and safely communicate through, establish joint networks for file sharing and collaborations, market your new hiring practices, and grow your talent pool by drawing from other regions, and more.
The Benefits of a Coworking Space
When choosing your business’ first executive office, there is often no way to go wrong with a coworking space.
Coworking spaces are shared office spaces where different contractors, freelancers, and companies rent usage rights to an open office plan with top-of-the-line amenities and furnishings, as well as select private rooms for company and client meetings, or brainstorming.
Cost is the main reason coworking spaces are often the top choice for startups or smaller businesses looking for an executive office, and established enterprises setting up satellite offices in a new region.
Coworking spaces come fully furnished with high-speed internet access, a coffee bar, and other amenities at a fraction of the price you might be asked to pay for a completely unfurnished commercial office space in the same neighborhood.
Sharing your space with other companies might sound like a major point of contrition, but it can serve as a boon to your business, providing countless organic networking opportunities, connecting your company with local professionals, and creating opportunities for collaborations and potential partnerships.
Picking the Right Coworking Space
Your options for the right coworking space depend on your company’s aesthetic and culture, how well you match with a space’s community, amenities, in-house perks, and how well your employees can perform within the new space.
One of the biggest benefits of opting for a coworking space for your executive office is total flexibility, including the topic of leaving.
While a commercial office lease of your own might lock you into one location for several months – without the opportunity to give your new location a test drive for a few weeks, or wait until after furnishing it to make your decision – coworking spaces are usually much more flexible with their memberships, allowing you to terminate or continue your membership on a weekly or monthly basis, and giving you the flexibility to hop from one space to the next until you find the right one for your business.
For many businesses, that flexibility is an important selling point, especially in the early years when your employee numbers might fluctuate, and your needs might change as you establish yourself within the local and regional market.
Cost, location, amenities, aesthetics, community, collaborative opportunities, impact on hiring potential, and reputation. These are just a few considerations you will have to make when picking an office to relocate to, or one to start your business with.
While physical offices remain important, especially for efficient management and onboarding, do not underestimate the value of remote work and collaboration, especially in an environment where remote working tools continue to evolve and grow.