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How Long Should Your Lease For Office Space Be?

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How Long Should Your Lease For Office Space Be?

  • April 5, 2016

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There is an awful lot that needs to be considered when looking for the perfect office space in Derby for your business. From the location to the level of security, you need to make sure the office is right for you. One of the most important factors that need to be taken into account is the length of your leasing agreement with the landlord. This is one area that tends to be a stumbling block for a lot of business owners, with many of them being tied into a contract they are not happy with.

Don’t be swayed into longer contracts than you want

First and foremost, it is crucial to recognise that no one is going to force you into a longer contract. A lot of people tend to have an assumption that long contracts are essential for anyone that has a view to maintaining their business in a particular area. This is not the case. There are serviced office space to let in Derby, and they provide great contract flexibility. That is what we provide here at RTC Business Park; you can lease our offices for as little as three months if you like, and there is always the option to renew at the end. We have longer leases available too.

What’s right for you?

It all comes down to determining what type of lease is going to be right for you. Some companies may only intend to be in an area for a short span of time, and thus it is obvious that a short lease is required. In other cases, you may have a long-term view of establishing your business in Derby, but you may intend to grow your business considerably over the next few years. Therefore, what is right for you now may not be the case in two years time. This is when a short-term contract proves to be ideal. It is also something that is highly sought after by start-ups, as it gives them peace of mind during a costly and unpredictable period in their business’s existence.

There are many other factors that can play a role when looking for office space to let in Derby. Market conditions are significant. For example, the recession saw long-term contracts fall out of favour, as businesses were uncertain about their future. However, now five to ten-year contracts are starting to grow in popularity again. All in all, it is all about finding what is right for your business and giving yourself flexibility for the future if required. There is no right or wrong answer; so don’t look at what others are doing, consider what you really need, and if you’d like to talk it over, here at RTC Business Park, we’d be happy to help.