Important Factors to Remember when Deciding on a Shared Office Space

Important Factors to Remember when Deciding on a Shared Office Space

An office space is the space where you can talk with your customers, administer meetings, and regulate the workflow of your employees. However, if you are just establishing your business, owning an office space can be a very huge expense. Thus, a good alternative would be having a shared office space. A shared office space is similar to a standard office environment. The only difference is that other companies or professionals may share the office space with you. If you decide to purchase a shared office space for your business, you may want to consider the following.

Location. Just like any business, location plays a very significant factor. For instance, if your shared office space is located in far locations, clients would have a tough time reaching you. Apart from that, you have to take into account if the location is favorable to your workers. Will they have a hard time commuting to work? Keep in mind, a good working environment can help enhance your employees’ efficiency.

Cost. As you are only starting out in your business, a large office space is out of the subject. Usually, the bigger the office space, the greater rent you have to pay. If you don’t want so much space for your shared office, consider renting one that can accommodate your workers and the other tenants. It would be a good idea to compare different rates from different buildings to know the price you need to pay for the shared office.

Occupants. One of the most important aspects when choosing a shared DC meeting space is the occupants sharing the area with your business. The best way to do is to look for businesses that would match with your business. This can be a good opportunity for future alliances and references. For instance, you can share the office space with a law firm who can help you in your legal transactions. Another factor in deciding on a co-tenant would be the company size. Certainly, all of you don’t want to be shoved in a small office space.

Amenities. Select a shared meeting space Washington DC can offer with services that benefit you and the other tenants. The shared office space must be fully furnished and have business equipment like fax machines, telephones, and photocopying machines. You should also inspect if the building has mail and delivery services.

Duration of the Contract. In most occurrences, a lease for a shared Washington DC meeting space typically lasts for at least 3 months and a maximum of ten years. It would be wise to review the contract prior to leasing a shared office. This will help you understand the requirements and stay clear of breach of contract.

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