In this post, we will look at how to rent a commercial property as your office in Ghana. We will look at what to look for in a space you are considering for an office and how to go about the rent agreement with your landlord. These are delicate matters; read on to find out exactly how to rent your office space.
Things to Consider First Before Renting an Office in Ghana
It makes business sense to sit back and take stock of certain things before venturing into renting a new office space for your business. This is because it is often a long-term decision and will affect how you do business for years to come. Here are a few of the things to consider before renting a commercial office.
- Location, Accessibility & Proximity
Your office location is a very important part of the decision. And the location should be determined before you start looking for a place. This is because the location of your business office is a strategic one and should not be left with a chance.
Also, how accessible is that location? Your office location should be accessible to key persons. Such as your clients and key partners. It is the reason why banks have branches all over the place because banking is a convenience service and one should be able to access their money as and when they need it.
- Your Resources/Budget
You need to consider the number of resources to dedicate to renting your office. Determining the budget, the time, and how to coordinate the whole project will help you know how you approach it.
- Company Size and Growth Potential
Your current company growth and potential growth will help you figure out the nature and size of the space you rent. Having a good grasp of your potential growth will help you avoid a situation where you have an overcrowded space or an underused facility.
- Company Culture
Company culture is essential to selecting a place for your company. Your culture could be playful, very corporate and official, child-like. All these “personalities” help you decide the kind of place, facilities and even furnishing you should use in the office space.
What to Look for In an Office Space
Facilities are important to your new office. Figure out which extra facilities you need as a business and look for a commercial property with those facilities.
If you are a large company, in terms of space requirements and staff (and projected) staff, getting a place that fits your needs is what you should do. You wouldn’t want to rent a place only to have an overcrowded office space after a few months or years.
We are in the age of connectivity and interconnectedness. The internet is now more of a need than a want. It is at the back of the internet that many of the biggest companies in the world were built. That said, you need to ensure your new location is a good spot for your connectivity and internet needs.
- Parking and Storage
It is quite easy to forget you might need some extra storage space and a sizeable parking lot for both your staff and company visitors. This is a gentle reminder.
How to Find Commercial Property for Rent as Office Space
Once you have a fair idea of the locations you want to rent in, the kind of commercial property you need, the size, and all that we have previously discussed it is time to take this step to find actual properties.
Firstly, make your mind to see not less than 3 commercial properties. This serves you more than you know. Having a number of properties you can use as reference points to each other helps you get rid of the scarcity mentality. Dueling in the scarcity mentality may cause you to accept an office that doesn’t exactly help you but you do it only because you feel it is your only choice.
The problem with this approach is that you need to see a lot of places before settling down on 3 from which you make your final choice. But you dont exactly have to visit any commercial property unless it is a place you are actively considering. How is that? Simple enough. Just visit our commercial properties for rent category and find the best of properties in Ghana. Take all the time you need to select your top 3;
Once you have your top 3; call them up and book a reservation to see the properties. This is a smart way as it takes the stress of going everywhere you are interested in renting. You can easily filter by location and price to be sure that you can afford it and you like it. The description should give you enough information to determine if you want to actively try to rent the property.
Once you are done seeing the place, take note of the things you need and be sure what you choose helps you. Agree on terms and conditions and arrange payment.
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What To Look Out For In A Property
- Is the neighborhood okay? Is it noisy? Clean? How are people?
- How is the landlord? Can you work with such a person?
- Be sure the place has no history of flooding. Check for wall marks indicating flood. Ask around the neighborhood.
- Are there enough sockets?
- Will your stuff fit into the room Or the things you plan on buying
- Is the place spacious enough?
- Is there water? How consistent?
- Is there electricity? How consistent?
- Is it well floored? How about the paint?
- Any signs of rodents? Or other animals?
- Do enough light and air get into the room?
- How about cabinets? Shelves?
- Is mobile connectivity good? How strong?
- What are the terms of the lease?
Going Through the Rental Agreement
- The property address.
The agreement must be specific about the location of the property that s being rented. If it a room, it must be stated with the exact directions to the room within the building. If it a house, exact directions must be given.
- The details of all parties involved.
The details of the tenant and the landlord should be included to settle any ambiguity between the people entering the agreement. Note that official and legally recognized names should be used and not nicknames, etc.
- The landlord’s address.
The exact address should be included.
- The amount of rent and how it will be paid by the tenant.
The amount, the medium of payment such as mobile money, etc, when it should be paid any penalties involved if the payment isn’t made on time. Collecting rent is one of the biggest challenges landlords face. So it is important to outrightly state these terms to help. It is common practice that a certain amount is charged for each day that outstanding rent isn’t paid. Also, a grace period is a common practice.
- The deposit amount and which scheme it will be protected by.
- The proposed term of the tenancy
The term states when the agreement starts and when it ends. It stipulates that the rent, what happens when rent isn’t paid, what happens when the tenant doesn’t receive possession of the property after paying the security deposit.
- Notice periods required to bring the tenancy to an end
This is a section under the term section. It stipulates how the agreement ends, how it can be renewed, and under what circumstances the tenant could be evicted.
- The rights and obligations of both parties
- A forfeiture clause to allow possession of the property where the tenant is at fault
- How are Utilities to be catered for? Who’s responsible for each?
Renting has been greatly made easier, safer, and more convenient by the Tonaton.com platform. Renting doesn’t have to be easy and worthy of causing you headaches. If you are a real estate agent or developer, we have some great news for you.
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