How to run a business from a rented apartment?
We hear of home-based businesses all the time. People don’t usually have rented apartments in mind when they hear of someone operating a business from a rented apartment. We usually think of a big house with a nice yet spacious working area.
But stats say otherwise. A lot of home-based businesses are operated from rented apartments. While there are some challenges, running a thriving business from a rented place is possible.
Tips to operate a business from your apartment
If you are considering going into business and want to turn the living room into a working station, here are some tips to make it possible:
Involve your landlord
Take out your lease and see for clauses that say about running a home-based business. If there’s nothing mentioned in the lease, there won’t be any problem. However, if you are going to get traffic (clients) in your apartment, it is best to involve your landlord and talk to him. It is better to get the approval in person before marketing that you are open to business.
Check all the zoning codes in your neighbourhood
When it comes to running a home-based business, zoning codes are vitally important to check. To run a business rightly, you have to register and get a license. However, some areas of the neighbourhood are confined for residency only. Therefore, you need to check the zoning codes before advertising for your business.
Get the business license and insurance
This is something many entrepreneurs don’t think of before opening a business from a rented apartment. You need an appropriate business and working license, insurance, and occupational permits if the laws ask you to.
When drafting your insurance policy, get the best renter insurance coverage and explore your options. For instance, you would need liability and coverage if someone comes to your apartment to do business and he ends up rubbering you. The same terms apply in case of a fire or natural disaster.
The amount you will receive will have a heavy impact on your renter insurance coverage plan. But you will have something to get your business running.
Keep your work station and living area separate
While you might be short on space, it is essential to keep your living area and workstation separate. For instance, some people move their gaming system or television into the bedroom and use the lounge as the workstation. It is not important how you do it as long as you are keeping both the spaces separate.
Consider local ordinances
It is important to verify if your home-based business complies with all the local laws and ordinances. These rules impact your community and violating them won’t do you any good.
Some of the common areas include:
- Traffic flow
- Parking space
- Laws of Home Association Organization
- Maximum number of employees
- Insurance and coverage requirements
- Operation hours of the business
- Proper safety of the apartment
Work from home and build your business
Becoming your own boss is as admirable as it seems. If you consider running a business from a rented apartment, you are not alone. All great start-ups usually start from small spaces.