Finding and leasing a professional office space that both meets your needs and your budget is both exciting and stressful for beginning entrepreneurs, often mostly the latter. But it doesn’t have to be. Not if you’re empowered with the right information and tools from the get go. 

Here are a few top tips for finding the perfect office space for your startup:

1. Know how much space you need.

Typically, a good rule of thumb is budgeting for about 1,000 square feet for every four to six employees. 

2. Be considerate of your employees.

Map out where your employees live and, from there, seek out an office space that’s relatively convenient for each to travel to on a regular if not daily basis. Coming up with a centralized location is the most important consideration in the process. If you make it easy for everyone to get there, you’ll retain more talent, existing and future.

3. Work with an agent people you trust recommend.

We strongly advise that you don’t work with an agent who has never successfully found an office space for someone you know or doesn’t have a PROVEN track record of delivering good service. Similar to when you move somewhere new and search for a new doctor, you wouldn’t want to leave something this important up to chance.

Once you’ve rounded up personal recommendations, if you feel it’s necessary, do some additional homework. Look up the agents on their professional websites and see what former clients are saying about them online. We have heard countless stories of agents who make promises they can’t keep, or swindle unsuspecting clients of their hard earned money. 

4. Consider setting up shop at a co-working space.

This is likely your best bet if you’re working with a tight budget and require a flexible, lower-cost arrangement. You’ll be around other start-up types who are like-minded and, if your needs change, even suddenly, you can always scale upward or downwards.

Depending on the specific co-working location, you could rent a range of spaces -- from team-friendly environments, to dedicated individual desks, to entire meeting rooms -- on an hourly, weekly or monthly basis, or even indefinitely. 

5. Make sure you don’t end up with an awful landlord.

Bad landlords are right up there with bad bosses. They can make your life -- and the lives of your employees -- miserable. To ensure you end up with a landlord who is professional and plays fair, talk to present and former tenants in the building (or co-working arrangement) you’re considering renting space in.

Looking to get your first office space or relocate, speak to your local RE/MAX agen

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We've compiled the hottest picks for short lets on the Island, if you're in Lagos for a short stay we'd definitely recommend a short let apartment over a hotel! For more enquiries on any property shown below or on our website please contact Lesi on 07026020181 or Gbolahan 09035909932 or visit the website www.remax.ng for more properties like these.

3 Bedroom Short Let Apartment
Daily Rate: N30,000
Features Include:

• 24hr Electricity Supply
• Inverter
• All rooms ensuite
• Fully Fitted Kitchen
• Dining Area
• 42" TV
• Swimming Pool

3 Bedroom Short Let Apartment 
Rate: $30,000 (6 Month Lease)
Features Include:

• 24hr Armed Security Guards
• House Keeping
• Swimming Pool
• Multi Channel CCTV
• Ample Parking Space
• 24/7 Power Supply
• Gym
• Water Treatment
• BBQ Area & Clay Oven for Pizza

Fully Furnished & Fully Fitted 3 bedroom Terrace Apartment in Lekki Phase 1.
Features Include:

•  24hr electricity  
•  4g wifi internet with 30Gig data/month for 2017 
• 55" Samsung Curve TV in modern Art decor living room 
• 42" Flat screen Samsung TV in Cosy Upstairs Family lounge
• 42" Flat screen LG TV in master's bedroom + DVD 
• 32" Flat screen Samsung TV in room1 
• 18" Flat screen Samsung TV in guest room + DVD.
• DSTV Explora with extra view 
• Complete DSTV Premium HD Bouquet with Subscription for 12months (including prepaid DSTV Box office Movies - any 4movies/month for 12months)
• Classical DVD Catalogue of Movies (see attached)
• 1 Hp Laser scanner/Printer/color Photocopier (for in house online printouts)

General Services Include:

• Outdoor swimming pool
• Maintenance of 6 Air Conditioners & All other Appliances.
• Fitted kitchen + Laundry Set

All inclusive package - Rent & Service Charge
2 Bed - #25,000 (negotiable)
3 Bed - #35,000 (negotiable)
Features Include:

• All rooms ensuite
• Fully fitted kitchen
• Furnished rooms
• Dstv

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We’ve compiled a list of trends we are certain will make real estate better in 2017, if left behind in 2016. We hope you share the same sentiment and will join in on this movement! 

Agents: Inspection Fees

It’s absurd when agents request for money before showing or sourcing for a property for a prospective tenant or buyer. Note that this fee is separate from the agency and agreement fees and in reality (global best practices) no real agent should ask you for these fees. Besides, listings of these inspection-fee prying agents will most likely not be up to par with what the tenant is looking for and they soon find themselves spending huge amounts to find a property that suits them. We’re definitely advocating for this trend to be left in 2016!

Prospective Tenants & Buyers: ‘African’ Time

We know it will take a lot more than a blog post to eradicate this national, dare-I-say continent wide problem, but showing up 3 hours late without prior notice or not at all for an inspection is disheartening for every other person involved.  Leave this sort of behaviour in 2016, please.

Landlords: Two years rent 

We wrote a post about unlawful tenancy practices a few weeks ago and yes, collecting 2 years rent is against the law. Apart from the legal facet, it has many negative downsides to both Landlord and tenant – Makes the property less marketable & feasible for a quick letting (especially in this economy), binds landlords to tenant for two years… bad tenant -1 , landlord – 0 

For more advice on real estate trends for 2017 or to find your property before the New Year, speak to a RE/MAX Agent. Call 07026020181

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Understanding your rights and responsibilities as a tenant is an important part of living and working in Lagos state. While we encourage every tenant and home owner to read a copy of the full tenancy law of 2011, RE/MAX has highlighted a few interesting laws every tenant should know.

Caution Fee & Service charge

First of all, not all properties are liable to a service charge or caution fee. Speak to your agent about whether the properties you’ve expressed interest in come with these additional expenses.

Your landlord or his agent should give you a separate receipt for the payment of the service charge and/or caution fee. Additionally, as a tenant, you are entitled to a written account at least every six (6) months of how the service charge and/or caution fee has been spent.

Notice Period

Depending on the nature of your tenancy agreement, your landlord is mandated to issue you a notice to evacuate his/her premises prior to forceful eviction for non-compliance, they are:

1. A weeks notice for a tenant at will
2. One (1) months notice for a monthly tenant
3. Three (3) months notice for a quaerterly tenant
4. Three (3) months notice for a half-yearly tenant and 
5. Six (6) months for a yearly tenant

Note that in most cases where an evacuation is ordered by the court, tenants will not be served an evactuation notice by the court but from the landlord. It is the landlords responsibilty to inform his/her tenants of any intent to evict on the property.
Unreasonable Rent Increase 

You can declare an unreasonable rent increase, and your landlord can not evict you until the matter has been settled by the court.

Two Years Rent 

It is illegal and punishable by jail time or fines up to N100,000 to pay or demand more than 1 years rent in Lagos state.

Want more information on tenancy laws in Lagos state? Speak to a REMAX Agent today or drop a comment in the box below, share and forward.

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