3 Things to Remember When Negotiating an Office Lease

If you are a young business just starting out in the world, there are lots of things to keep you busy. Launching a company is like assembling a vast jigsaw puzzle. You might have a good idea of what the finished product will look like, but how you get there is up for debate.

Nevertheless, with so many entrepreneurs clamouring for their shot at the market, making the right moves is essential. One of the first things to do is find yourself a suitable home; a comfortable, accessible base from which to run your burgeoning empire.

This guide to negotiating your first office lease will give you some tips and advice on the best ways to do it.

Keep Your Options Open

The big mistake that many new ventures make is to assume that there’s only one way to launch. It is simply not the case. There are all kinds of different offices and rental spaces available in the big international cities. In Malaysia, which has become a fintech haven over the last five years, serviced offices are growing in popularity.

Visit www.servcorp.com.my/en/ to check out some of the facilities available in Kuala Lumpur. Serviced providers differ from traditional landlords because they deal in flexible, short-term contracts. Plus, the workspaces can be hired fully furnished. You just need to help the team move in and get settled. Utility and maintenance costs are covered in the fee.

Think in Terms, Not Rates

Price is, of course, crucial, but it can distract new businesses from what really matters, which is the conditions of the agreement. Some landlords offer unbeatable rates, and they are snapped up by eager entrepreneurs who later realise that they are stuck in a long lease with no room for growth. Don’t let this happen to you.

Consider the rate but in accordance with the bindings of the contract. Alternatively, alternatively, pick an office solution which doesn’t trap you in a long term commitment. Most serviced facilities are renewed on a rolling month to month basis. You get the security of a high-quality workspace for as long as you want it, but you also have the freedom to terminate at any time.

Get the Amenities Locked Down

Don’t sign any agreements or rolling terms until you are sure what is included in the premium. If you rent a serviced space, this can end up being quite a lot, so it is best to keep track of what you will and will not receive for your cash. For instance, most serviced workspaces offer utility costs, maintenance, back office support, and furniture as part of the package.

In many cases, you also have the freedom to opt for an unfurnished office if you want to put your stamp on it. Fully equipped, furnished suites are a real lifesaver for smaller companies trying to expand into new markets. If you were planning a launch in Malaysia, say, there wouldn’t have to be any downtime between landing and launch.

How to Find the Perfect Serviced Office in Malaysia

Malaysia is a popular destination for entrepreneurs and tech start-ups. It has a warm, friendly culture and there is lots of support for foreign investors. Furthermore, the economy is growing at a rapid rate and mobile, and digital technologies are driving demand for new products.

If that were not enough, the capital Kuala Lumpur is home to some excellent serviced office facilities with top class resources and features. You will find reliable providers in the most prestigious corporate locations, such as the Ilham Tower and NU Tower 2.