How to Run a Business From a Condo

Running a business from a condo can be a prudent financial decision that can help build equity, save costs and provide you with a hassle free place to base your business. Planning and foresight are what you need to make your condo become a working success.

Instructions

1. Weigh up the costs and benefits of leasing versus buying. Condos are affordable options for small businesses, and mortgages can sometimes be lower than the costs of leasing. Find out the financial options and don't forget to include association fees for communal maintenance in your costs.

2. Make the door and location of the condo easily accessible and obvious to identify if clients ever come to the office. Make an eye-catching sign for the door and put a business plaque or direction on the directory of the building when you first enter. Check with the association before sticking anything up yourself, to find out the procedure.

3. Keep your business small and organized. Condos are great for white collar office environments where there is no need for a lot of space. Store equipment or supplies somewhere else and think carefully about whether or not you may expand your business before buying or committing to a lease.

4. Create an office environment in the condo by adding streamlined, professional furniture and decor and an organized system of storage and filing. This is especially important if your "business" condo is also among residential condos, to have a professional interior.

Tips & Warnings

• Ensure that deliveries or clients can enter the building themselves or through an intercom system.