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  When starting a new business, finding an affordable office space for rent can be a daunting task. This IS especially true in Lagos, where rent is typically higher than the national average, and decent work locations aren’t always easy to find.
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If you’re hunting for an office for your business in Lagos, you’ll want to find one that fits within your budget and also has the necessary amenities you’ll need to conduct business effectively. Here are six steps to help you find an affordable office space for rent in Lagos:

Determine Your Budget

The first step in finding an affordable office space for rent is to determine your budget. Know how much you will be able to spend on rent each month, taking into consideration other expenses such as utilities and insurance. It is important to be realistic about your budget and not overspend, as this can quickly eat into your profits.

Determine Your Space Requirements

Once you have decided on your budget, the next thing to do would be to set out your space requirements. Consider the number of employees you have, the type of work you do, and any equipment or supplies you will need to operate. This will help you ascertain the size of the office space you need and the amenities you require.
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Research Different Locations

Examine what’s on offer in several locations, and seek out places that will be decent to work in which also come at an affordable fee. Look for areas that are convenient for your employees and customers, and that fit within your budget. You may want to consider areas that are up-and-coming or that have a lower cost of living, as such locations may offer more affordable rental options. Just make sure that potential visitors to your physical space can easily access it.

Use Online Resources

Use online resources to search for available office spaces for rent. There are many websites that list office spaces for rent, and you can use filters to narrow down your search based on your budget, location, and space requirements. An example of such a site is Connect Nigeria Real Estate. These resources also provide information on the amenities and services included with the office space.

Visit Potential Office Spaces

After you have found potential office spaces that fit your budget and space requirements, you should visit them in person. This will give you a better sense of the space, its amenities, and its location. You can also ask the landlord of the property or the agent involved about the rental agreement, the length of the lease, and any other important details.

Negotiate the Terms of the Lease

Negotiate the terms of the lease to ensure you are getting the best deal possible. Ask if there are any promotions or discounts available, and consider negotiating the length of the lease or the amount of rent. It is important to read the lease agreement carefully and ask any questions before signing to ensure you are aware of all the terms and conditions.
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Final Words

Finding an affordable office space for rent in Lagos requires careful planning, research, and negotiation. By taking the steps we’ve run through in this article, you can find an affordable office space in the city that meets your needs and fits within your budget. Featured Image Source: The Guardian NG
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This article was first published on 1st April 2023


Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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