01 Mar 13 things to consider before renting an office in Madrid
Leasing a workspace in Madrid, either because you are starting a project or because your business needs it to grow, is a turning point in the exciting journey of owning your own business.
Choosing just any site would be a huge mistake. You need to make sure that the venue meets the requirements your team needs for business to flourish. Therefore, before you start, we recommend that you take care and pay attention to the following points. If you meet them, you will be able to rent an office in the city with the assurance that there will be no mishaps in the future.
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Do you really need to rent an office?
Until recently, most companies located in Spain used to require specific premises to carry out their activity. Nowadays, employees prefer to work from home or even at home, to get the best of both worlds. hybrid environments to get the best of both worlds: work-life balance and professional relationships. The use of coworkingspacesThe use of the different types of fixed and flexible desks in shared spaces or even independent offices and roomsis another option to consider, as these types of spaces often offer meeting room rentals.
If your company can operate in one of these alternative environments, you could save a lot of time and money, as well as provide a better quality of work and life for your employees.
Location, location and location
The choice of the area is the most important decision to make before you start. To get it right, you should pay attention to the following points:
- Consider the following questions:
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- Is it an office building or an apartment building?
- Is it easy to get there by car or public transport?
- Is it easy to find?
- Is its location appropriate for the image the company wants to present?
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- Make sure it is sufficiently close enough for team members close and well communicated sufficiently close enough for team members to come to on a daily basis and accessible for meetings with clients and suppliers. meetings with customers and suppliers.
- Another very important factor is that the location has all the necessary amenities. amenities necessary. Staff and employees are likely to value working close to restaurants, cafés, banks, supermarkets, etc.
The best areas to rent an office in Madrid
The Spanish capital has several areas that are ideal. We suggest Chamberí, La Castellana or the Salamancaneighbourhood.
Offices for rent in Paseo de La Castellana
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It is the financial district It is one of the busiest and most traditional avenues in the city, although it is perhaps not one of the most central. This area is excellently connected by metro lines: Avenida de América (L4, L6, L7 and L9), Núñez de Balboa (L5 and L9), Gregorio Marañón (L7 and L10) and Rubén Darío (L5).
This is one of the areas most in demand for companies of all sizes to set up in. Here, you can find luxury spaces for large corporations looking for a representative building or for those small companies who want to offer an image of prestige.
According to the website of the real estate portal Belbexthe average price of this type of rentals in La Castellana is of 7,349 per month. The cheapest one has a cost of 350 per month and the highest is 87,360 per month. The average amount is 25.21 €/m2 per monthwith a minimum price of 9,09 €/m2 and a maximum of 39,00 €/m2 per month. As you can see, there are all kinds of options.
La Castellana has coworking sites and/or business centres available from 69 € per month.
The main points of interest in the area are:
- National Museum of Natural Sciences
- Santiago Bernabéu Stadium
- AZCA
- Picasso Tower
- KIO Towers
- Cuatro Torres Business Area
Offices for rent in the Chamberí neighbourhood
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The district of Chamberí is part of the central area of Madrid. It is the the capital's most traditional neighbourhoodThe district is a district that attracts restaurants, art galleries and fashionable shops, without losing its traditional aristocratic essence.
The area is divided by the neighbourhoods of Gaztambide, Arapiles, Trafalgar, Almagro, Ríos Rosas and Vallehermoso.. Close to the centre, it has unbeatable connectivity and a large number of services that make it a perfect location for setting up new businesses. The main streets that can be found in it are: Bravo Murillo, Santa Engracia, Eloy Gonzalo, José Abascal, San Bernardo and Avenida de Filipinas.
The average price of leased workspaces is 6.579 € per month. In this case, the cheapest one has a monthly cost of 150 € and the highest at 165.120 €. The average price per month is 22,19 €/m2with a minimum cost of 5,21 €/m2 and a maximum of 40,00 €/m2.
The main points of interest in Chamberí are:
- Sorolla Museum
- Geominero Museum
- Civil Guard Museum
- Olavide Square
- Ponzano, one of the most popular streets in Madrid for having a drink
Offices for rent in the Salamanca neighbourhood
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It is the most distinguished and one of the most luxurious districts in the centre of the capital. It is made up of six neighbourhoods: Lista, Castellana, La Guindalera, Recoletos, Goya and Fuente del Berro. Although it originally began as a purely residential neighbourhood, Salamanca nowadays has a great deal of commercial, cultural and leisure activity. It is connected by the metro lines of Serrano (L4), Núñez de Balboa (L4 and L9), Retiro (L2) and Ventas (L2 and L5)..
This neighbourhood in the centre, also known as the Golden MileThe district is located within the central core of the city and has important shopping streets with all kinds of businesses: Hermosilla, Juan Bravo, Velázquez, Goya, Serrano, Claudio Coello, Príncipe de Vergara and the last stretch of Paseo de Castellana..
The area has a wide range of workspaces for rent and is well connected to the rest of the city, which makes it perfect for establishing small, medium and large companies. The average monthly price is 6.982 € per month; the most affordable at 230 € and the most expensive at 210.882 €. The average cost is 22,55 €/m2 per monthwith a monthly minimum of 5,95 €/m2 and a maximum of 65,00 €/m2.
The main points of interest points of interest in Salamanca are:
- The Puerta de Alcalá
- El Retiro Park
- Plaza de Colón
- National Library
- The Arab House
- National Archaeological Museum
- The Peace Market
The budget
After location, the price would be the next point to worry about. Before you start looking, run the numbers to find a budget that will allow you to operate comfortably. Avoid choosing a space with high fixed costs that will hinder your growth.
Additional costs
In addition to the monthly rent, leasing entails many other expenses costs other costs that should be taken into account. It is important to make sure what services are included, among them, internet access, daily cleaning and access times..
The contract should be clear and completeThe contract must be clear and complete, with all provisions well detailed. The included services, which are part of the final price, must be stated in this document. Under no circumstances should the landlord's word alone be accepted on this matter.
Who is responsible for repairs?
This is an item that could represent a significant expense. If the landlord is in charge of the repairs to the flat, it is important to confirm that he is willing to fix them when necessary. lessorIf the landlord is the one in charge of the repairs, it should be confirmed that he/she is willing to fix them when appropriate. If not, make sure that there is room for manoeuvre in the budget.
The importance of security
It seems obvious, but it is sometimes overlooked. It is necessary that the building meets the necessary conditions for employees to work safely. Therefore, you should find out if the facility has physical doorman or private protection and what kind of security measures are maintained outside working hours: cameras on every floor, alarms, etc.
Let the space adapt to your needs, not you to the space.
You need a floor large enough for your team members to have their own office space. desktheir areas common areas, offices and meeting rooms meetingsbut not so big that you're paying for square footage you'll never use.
A little bit of extra site could be a good thing, especially if you plan to grow during the term of the lease. In situations like this we recommend the coworkingwhere expanding business is extremely easy.
The distribution
Do you want a concept open space or a workplace more intimate? Preferences depend on the individual boss and his or her staff. Think carefully about what style would best suit your team and your activity and choose a place that fits the most optimal layout for you.
The state of the property
Some advertisements published on specialised websites do not reflect the real condition of the flat, which may require a tune-up before moving in. For this reason, check the condition in which it will be handed over. If you need improvements to the electrical installation, furniture or paintwork.If necessary, negotiate beforehand who will pay for them.
Space speaks for you: where you set up will position you as a company
The office sends a clear message about the company in the meetings y meetings meetings held in their rooms and offices. Choosing a building that is falling apart gives clients the impression that you are struggling. In terms of location, being in a representative area of the city is not the same as being in a flat in the suburbs.
Common areas
Do you need exclusive conference rooms o offices for meetingsDo you want a kitchen or some other specific site?
In addition to desks or workstations, you should think about other places that are useful for the team. Having common areas is of great importance to relax and disconnect from the hectic day-to-day. In addition, they can also serve as collaborative work and meeting areas.
The contract
You may not want to make a long-term commitment to avoid being trapped in an office if the business goes into crisis, is sold or you need a bigger place. Therefore, the duration of the contract is another important factor.
Which law applies?
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The office rental law is the Law 29/1994 of 24 November 1994 on Urban Leases (LAU).
This legislation regulates the leasing of buildings where industrial, commercial, craft, professional, recreational, welfare, cultural or teaching activities, among others, are carried out. This would be a lease for a use other than the use of the flat as a dwelling.
How long can we negotiate?
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The duration can be freely agreed between both parties. Until recently, a period of between 3 and 5 years was usually stipulated. This factor has changed considerably in today's world and in the coworking business centre world. coworking and/or business centre contracts without permanence are being implemented.
How is the rent updated?
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The parties can negotiate the updating of the rent each year in various ways:
- Application of the CPI: designated on an annual basis.
- CPI + %: a certain percentage agreed by the parties is added to the CPI, e.g. "CPI + 3%".
Trust: the magic word in business
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You need to consider where the business will be at the end of the fixed period. In the case of a three-year lease, where will you be in that time? And importantly, do you have a real plan to reach that time horizon?
Options for early exit
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It never hurts to know what might happen if you have to break the contract. Make sure you are comfortable with the fees or other penalties in case anything changes during the course of the lease.