Finding or moving into a new office can be a taxing and time consuming process.
Conducting your own search can be cost effective, but without any experience it’s a minefield to navigate.
Knowing what to look for in a new office and how much it should cost is difficult at the best of times but made even harder when a raft of landlords constantly call and email you, and then you’re still left to make sense of the legal contracts yourself.
Accustomed to sharing work spaces and accelerator hubs, the thought of moving offices can be especially off putting for startups. But fear not, Making Moves founder Tobi Crosbi has shared his top ten tips to make office relocation easier than ever before for startups owners.
(1) Make sure you check your current lease to confirm your lease expiry/break date.
(2) Be aware of clauses within your lease relating to how you must return your current office to the landlord. This can be costly.
(3) Confirm your brief with your agent before you start searching – budget, location, size and timings are the essentials.
(4) Ensure you pick the right type of office for your business needs – serviced? long lease? short lease?
(5) Be careful when registering on multiple property search websites. This could lead to a surge in cold calls.
(6) Be aware that leasing an office is unlike leasing a residential property. The legal process itself is taxing and extremely complex.
(7) Ensure you instruct a commercial property lawyer to advise on the legal. Try and agree a fixed fee with them as an hourly rate could prove costly.
(8) Plan ahead. On average an office move takes between six to 12 months. Depending on size, companies should prepare as far ahead as possible.
(9) Be aware that the majority of commercial office lettings are subject to three separate taxes. Business Rates, VAT and Stamp Duty.
(10) Appoint a specialist tenant’s agent to advise you through the whole process.
Tobi Crosbi is founder at Making Moves.
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