As thrilling as renting office space can be, it is vital to perform intense research to find an office space that meets your business requirements. It helps to enhance brand awareness and symbolize legitimacy for your business. The last few years have seen a drastic shift in the work culture and office space concepts. Modern office space collaborations have replaced the traditional office space format.
If you are working from home, or have plans to expand your business operations, renting office space is an ideal and smart solution, which will come with several lucrative benefits.
Did you know?
Office space tremendously grows by 97% Y-o-Y, around 11.4 million sq. ft in Q1, 2022, in several cities of South Asia like Chennai, as per sources of Economic Times.
Furthermore, if having a dedicated office space is necessary for you, some marketplaces offer top-quality office rental spaces in Chennai that are ideal for any business, whether a startup or an established organization.
The Market of India offers the best deals that are flexible, transparent, and customizable to your needs. Our teams ensure that your transition to the new office is smooth and allows you to focus on other essential aspects of your business. Let us dive into the topic and present some insightful tips for renting office spaces in Chennai.
- Estimate the space required: Space requirements vary according to the company and may differ according to specifications, geographic locations, and networking opportunities. It is vital to ask yourself the below-listed questions, which are as follows:
- How much does my business growth projection look like?
- How much office space is required for my business operations?
- How much will the business grow during the rental period?
Once you know your business operations and working environment, selecting a suitable office becomes a cakewalk. A checklist of your requirements is vital, as choosing the office space that matches your standards and operations is pivotal in determining profitability and growth.
- Compare the different office space types: There are different types available, and you can choose those with top-notch amenities and world-class infrastructure.
- Office space: An excellent option for entrepreneurs looking for collaborative office spaces for unmatched productivity and growth for the business.
- Private office space: It is an excellent option for several entrepreneurs, business owners, startups, and freelancers to explore private office spaces to grow and explore networking opportunities.
- Dedicated desk: They are highly flexible and affordable, with shared private office space and world-class infrastructural facilities like wi-fi-enabled shops, parking spaces, and many more.
- Consider the budget: Choose an office space that will help you become financially credible and not in debt. Your dream office space must be worth investing in, allowing your business to grow and have the edge over competitors.
- Consider legal formalities: When considering buying or renting a commercial office space, it is vital to avoid legal pitfalls. As an investor, check all the legal options available before investing in any commercial office space. Check if your rent covers or includes insurance, property taxes, and maintenance.
Explore neighboring areas: You must select an office location convenient for your team and clients. Is public transportation available nearby? Is there a bike rack at the office? Your team may also appreciate a location with nearby coffee shops and restaurants.
Benefits of Renting Office Space
1. Untied working capital
Rented offices include technology, business support, and infrastructure, and they save you from paying a mortgage with variable interest rates that could rise as the market changes. So, renting an office space rather than purchasing one is unquestionably a win-win situation. You can retain more working capital using financial flexibility, leaving more room for the growth and progress of your deserving employees while renting office spaces, which promises a better future for their careers and your business.
2. Financial flexibility
The financial and fiscal flexibility of renting an office space brings several economic and financial advantages. One of the most obvious benefits of renting an office space is that it reduces the business owner’s financial responsibility for managing and paying for routine building maintenance. In a nutshell, renting an office space enhances the investor’s financial flexibility and situation. It also ensures a favorable tax system, where if you rent equipped offices, the rent paid by the company is deducted from the company’s taxable income.
3. Convenient shared working space
One of the benefits of renting an office space as a freelancer or a startup is that you can get lease contracts tailored to your business needs. Have you thought about renting a fully furnished office? This option can benefit entrepreneurs because it provides more flexibility than purchasing real estate properties. While renting or leasing an office space, you can select a location that fits your business needs in terms of size, market factors, layout, amenities, and other factors.
4. Location advantage
Rental office spaces are a more plentiful and less expensive option for establishing your business in what would otherwise be an unaffordable location. You can access essential downtown amenities and prime business locations to better attract and appeal to clients and customers.
5. Reduced tax paperwork
When you own a building, you must fill out an infinite number of forms. Choosing office rentals in Chennai means that your income tax returns will be easier to file. It is one of the vital benefits of renting an office space in Chennai.
6. Location and networking opportunities
You will have the chance to interact with other businesses in the same area. While they may not be in the same field or industry as you, connecting with them can help you be more productive as a company or as an individual.
7. Affordable costs
There are professional and inspiring workspaces of all sizes for several startups and business owners within the budget. The high rent and other operating expenses burden many startups and SMEs. When a company pays for an entire office building, it also pays for parking, reliable security, fast broadband, and phone lines, to name a few things.
A perfect option for your employees: Invest in the Market of India
The Market of India is a trade hub that effectively centralizes the city’s trade scene, thanks to cutting-edge facilities and a convenient location. The Market of India offers a wide range of commercial spaces, including retail and wholesale, and office spaces with world-class infrastructure.
- Class A office spaces- premium facilities
- Conference rooms
- Reserved parking
- Business center
- CCTV services
Your wait for renting an office space is now over. Presenting Market of India that offers commercial and office spaces with world-class infrastructure and distinctive amenities. We hope you have a clear idea of the benefits of office spaces. Book your office space that meets all your business requirements.