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6 things you should consider when choosing an office space.
12/10/2022
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6 things you should consider when choosing an office space.
The corporate environment in India is changing drastically. The nation has become Asia’s next big thing as a result of a booming economy, flourishing companies, and a recent inflow of top talent from around the world. As a result, the demand for office space is rising at an unprecedented rate in Indian cities like Mumbai, New Delhi, and Bengaluru. But along with this rapid expansion comes the issue of locating the ideal office space that will meet your company’s requirements.
Choosing the right location
The location of your office can have a significant impact on its success. It should be accessible to clients and employees alike, but also near any transport options, you may require. Your business will be more successful if it’s located in a place that’s easy for people to find and get to, so do some research into what locations are popular with clients like yours, as well as where your employees live and work.
Rental & other charges
In addition to the cost of your office space, you should consider other fees that may affect your bottom line. These include:
- Rent or leasing costs: A rental or lease cost is the amount of money you’ll be paying per hour, day, month or year. You can also expect variable rent depending on location and building type.
- Furniture and equipment rental costs: Rental costs for furniture and equipment vary based on the type of furniture needs, as well as its quality level compared with standard options available from the landlord’s selection catalogues.
Promoting a positive work environment
When considering the type of work culture you want to create, consider coworking options. Coworking spaces offer a range of options, including dedicated offices and private offices as well as open-floor plans that come with dividers that can be moved around as needed and semi-private spaces. If you need privacy during certain times of the day or in specific areas of the office (for example, when discussing sensitive information), consider renting a private suite or executive suite instead. Managed office solutions offer complete customisation of your office to ensure your office is built to fit your culture and to ensure that employees truly enjoy coming to work, thus promoting a positive work environment and culture.
Lease Duration
A fixed-term lease is the most common type of lease. With a fixed-term lease, you know exactly how much rent will be each month for the entire duration of your lease—but if you need to move before the end of your term (for example, due to growth), this can be very expensive in terms of break clauses and penalties that could cost you thousands of rupees.
A flexible lease allows you to pay your rent month-to-month based on the actual number of people who work in your building and are using the space while it is occupied, rather than just on the amount of square footage used. This means that if any part of your office goes quiet but another part picks up again later, only one space will be charged while all other spaces remain unoccupied.
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Infrastructure
When searching for office space, you should check that the company provides all of the infrastructure—power, water, and internet—that your team will need.
In addition to basic utilities and amenities, it’s also important to consider whether or not there are conference rooms, meeting rooms or boardrooms available for use by employees who may need them throughout their day. Some businesses offer amenities like gym memberships, coffee bars, restaurants, sports facilities and more.
Notice Period
A notice period is the amount of time a tenant has to give their landlord before vacating the premises. This amount can vary depending on the type of lease agreement, but usually, it is a couple of months.
A leasing term, or termination clause, details how and when your lease will come to an end. You should take care to read over the contract before signing anything.
Plug Spaces is a workspace sourcing agency that helps you reimagine your workspace. Let us help you stand out from the crowd!
Plug Spaces helps businesses source their own corporate, eccentric, high end or budgeted workspace in India. These can be tailored to your requirements and budget, with options ranging from managed office space with plug-and-play capabilities to high-quality office space at corporate addresses without the need for bricks and mortar premises.
We can help your businesses find the best solutions for all their office space requirements in India. Call us at (+91) 81560 15121
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- October 12, 2022
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