Renting an office / co work space

I work from home, from a cafe, or from the beach. My office is where the laptop is. However it’s not ideal and I do miss the productive vibe of an office. For anyone else thinking about renting an office or co-working space, here are five mistakes to avoid.

This post is sponsored by Regus. Regus offers a global network of workspaces, including office spaces, coworking environments, business lounges and meeting rooms. With Regus you can book a private office with a few desks, or an entire building, for as little or as long as you like – anywhere in the world. Workspaces are available by the hour, day, month or longer, and let you scale up as you need.

In collaboration with Regus, here are five mistakes to avoid when renting an office or co-work space.

5 mistakes to avoid when renting an office space

Not considering future plans. When signing a contract to rent an office space, be careful when you sign on the dotted line. You may be tied into a long term contract, or a lengthy (and expensive!) notice period before leaving. If your business needs change, if you’re working on a rolling contract basis, or you decide to move abroad, you’ll need a flexible arrangement. Plan carefully, set a budget and leave enough financial cushion for a switch in direction. Be prepared to scale up or down fast.
Ignoring wellbeing needs. On the website, one office space might appear no different to the next. However, it’s important to check the feel of the place. Consider natural lighting, layout, furnishings and colours, for example. Whether you need a calming space or a creative hub, pay attention to works for you. Perhaps you work best under a working from home / office hybrid model. In this case, you might prefer a more flexible arrangement with just a few days in the office per month. Psychological wellbeing impacts on productivity so book your space wisely.
Prioritising cost over location options. While it might be tempting to book the cheapest space, consider the financial, practical and emotional cost of the commute. With the advance of technology, a central location might not be as important for business exposure as previously. Consider your clients’, coworkers and your own personal needs. Will you be receiving clients? If you are employing a team, where are the majority based? What kind of environment will be the most conducive to work – for example a quieter suburb or a buzzing centre? Think hard about location before signing on the dotted line. It might make more sense to split your time between offices in different locations, through a more flexible arrangement. Be open to new locations and all the different options.
Being unable to customise your space. Whether you’re receiving clients, or just want to feel grounded, it’s important to be able to customise your space. Some companies will not allow, or have the means, to make your office feel like your own. However customising your space is important for first impressions, it anchors workers into the organisational culture and can enhance morale. Regus customises office spaces, for example matching company logos and colour schemes.
Thinking only about desk space. Offices are much more than desk spaces. Depending on the nature of your work, on site cafes, break out rooms and tech spaces might be important, too. A cheaper office price tag might appeal at first, but add in the cost of extra IT equipment, furnishings and amenities and you might want to think again. Find the office space with the facilities and equipment to suit your organisation’s needs. Make a list of your requirements, categorising into essential, desirable and less important and stick to your budget plan.