For quality office space, Singapore has a range of accommodation available. Services offices monthly rental includes business rates, utilities and cleaning, while the tenant will be responsible for telephone and Internet charges. Depending on the type of office space you are renting and the level of service you are paying for, the monthly rental can also include things such as office furniture, the use of the breakout and meeting areas, lunch areas, kitchens and a manned reception area.
Another option is to enter into a leasehold agreement on office space. This usually involves committing to the space for at least a year ranging up to 15 years. When renting an office space in this way you can usually fit out the premises to your specification, marking your company’s identity on the office space. Rent will usually include just the rent. With all other extras being organized separately.
Size and services
Floor area in Singapore office space is one of the most important factors to consider when renting any office. With rental prices usually based on each square foot of space leased, it is important to ensure you get the right size office for your needs. Allow 70 to 80 square foot for each person who will be based at the office, although some landlords will provide up to 100 square foot per person. It is always a good idea to make sure your commercial property estate agent, double checks the measurement of the space you are renting.
Depending on how you intend to use the office, it could be worth considering renting storage space for items such as stock. Rather than rent extra meeting space that won’t be used on a daily basis, it could be worth looking to rent an office in a building that contains a meeting room that can be hired on an as and when basis, or simply using a separate venue for any meetings that need to take place. Whilst you can save money by using storage and hiring separate meeting rooms, trying to squeeze as much as possible into the smallest space can be counter productive. Trying to work in cramped or crowded conditions isn’t always the most efficient way to work, and if clients are going to be visiting the office, they may not be impressed by a cluttered workplace. Likewise something that is disproportionately too large could simply make your clients and workers question your judgement on choosing an appropriately sized office space.
Choosing a location
With office space in Singapore, you usually get what you pay for and location can be the biggest influence on price. The more demand there is for a particular location, the more expensive the office space will be. Getting a good deal should be a balance between selecting the right area and the size and quality of the accommodation. Getting an office in Singapore that has good basic services as well as well maintained and cared for premises is much better than paying less for shoddy services and a badly serviced building.
The time frame of your office rental in Singapore is another important factor to consider. Many offices across the city offer rolling monthly contracts, which can give you plenty of freedom to be able to move premises if you need smaller, larger or simply a different office space in another location for whatever reason. There will usually be a 3 – 6 month minimum contract, with a monthly rolling contract coming into force after that period. This rolling contract principle is ideal for new businesses or those in a transitional stage, as it allows greater flexibility for growth.