You hear of home-based businesses all the time and, of course, you usually don’t think of them being run from a rented apartment. If you are honest, you think of a home that has a spare room in which to set up shop and perhaps even a nice area where you can meet and greet customers or clients if the need should arise.
Actually, a huge number of home-based businesses are run from rented apartments, but there are a few challenges that are a bit different than what you’d experience when running a business from a home you own. If you are considering going into business for yourself from home in an apartment, here are some tips you might otherwise overlook.
1. Check Zoning Codes in Your Area
Zoning codes are of vital importance if you are going to operate a business. To do it right, you’ll want to register it as a business, but some areas of the country are zoned for residential only. You’ll want to check this out before you take another step.
2. Talk to Your Landlord
If you can’t see anything in your lease that would prohibit you from running a home-based business, then it’s probably safe to assume that it should not be a problem. This just may be the case but if you are going to be seeing a lot of foot traffic, so it’s a good idea to get the property manager’s approval before advertising you are “Open for Business.”
3. Licenses and Insurance
This is something else many apartment dwellers don’t think of when running a business from home. You will want to get the appropriate business licenses and occupational permits if required in your city/county. Also, you should get the best renters insurance coverage you can find. When seeking a renters insurance quote, ask about the various kinds of coverage. For example, you’ll probably need liability if anyone is going to come to your ‘place of business’ and you’ll want contents insurance because of theft and loss due to natural disasters or fire. Obviously the amount of coverage you purchase will have an impact on renters insurance cost, but by comparing renters insurance online you will be able to find the most inclusive policy for the lowest amount of money.
4. Keep Work and Play Separate
Finally, even though you might be limited on space, always keep work areas and living areas separate if at all possible. Some people move their television and games systems to their bedroom and use the front room as their office space – or vice versa. It really isn’t quite that important how you do it, as long as you set aside an area to work so that when you are working you are in the right frame of mind.
It really isn’t that much different than setting up a home-based business in a family home, but the major differences will be that you have a landlord involved when you are renting. If you get permission to work from your apartment, it can be a stepping stone to bigger and better things.