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For starting, moving, or expanding businesses, one important step in the transition is finding the right office space. This task may be a bit challenging, especially if your business has specific office size, lease term, and budget requirements. Finding a space for lease in Makati may also prove to be more difficult for investors and company leaders who are new at doing business in the Philippines. To help you out, we'll be giving you a basic overview of the process involved in leasing an office space in the country's leading central business district. With our help, finding the perfect business headquarters should be done in no time.
Step 1: Look for an experienced real estate professional.
This is necessary, especially if this is your first-time to start a business in the Philippines. A real estate professional can guide you through the maze of dealing with building landlords, scouting available office spaces--and all other obstacles that you might encounter in leasing an office space. As a business hub, Makati offers several types of office spaces in buildings with different classes, rental rates, and lease terms. With expert advice, leasing an office space would be more efficient and cost-effective.
Step 2: Meet with your chosen representative and discuss your space and leasing requirements.
How much office space do you need? What is your preferred leasing term? How much are you willing to pay every month? These are just some of the details a real estate professional needs to know before he or she can provide viable options. Afterwards, be prepared to take some time off your schedule to view the available locations, so the process of selection will be faster and more convenient.
Step 3: Be ready to negotiate.
A good real estate broker will assist you in dealing with the landlord, but an excellent real estate broker will ensure that you get the best deal possible, whether it is by trying lower the rental rate or negotiating lease terms with the landlord. In this step, it is important to respond quickly to the offer on the table and to communicate all your concerns to the broker, so he or she could quickly address them.
Step 4: Review the contract carefully.
Take note of the rules and regulations stipulated in the contract and talk to your broker for possible amendments or adjustments. You can also request him or her to arrange a meeting with the landlord to discuss the terms on the contract.
Step 5: Sign and close the deal.
And that is it. On average, finding larger office spaces (500 sqm. and up) may take a month to two months, but with a skilled and reliable broker on your side, this can be done within a shorter timeline. Once it is completed, all you have to do is to setup your business and move in to your new Makati office space.
If you wish to know more about starting a business in the Philippines or finding an available office space for lease in Makati, KMC MAG Group's team of commercial brokers is ready to assist you. Contact us today.