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Entries Tagged as 'Office Rental'

How to Decide on the Right Place for your Office Space

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When it's time to expand your business and set up an office location, one of the most important choices you face is where to locate your office. There are many factors to consider when choosing the right location to set up your office, and much will depend on the type of business you own. Before you look for the right office space, here are some things to consider to help you decide on the right place for your office location.

Cost

Obviously, the cost of buying or renting your office space is going to have to be within your budget constraints.  But there's more to the cost of doing business than just the monthly rent on the office space.  It is important to thoroughly research the taxes and regulatory situations in your desired location. What are the sales and income taxes and how might they affect your business? What about regulatory requirements - are they excessive or is this area business-friendly? If you plan to locate your business in the US, you can find out how individual states ranked with the Small Business and Entrepreneurship Council on policy measures and the various costs that impact small businesses.

Your Customers

Your business location needs to be where your customers are and be conveniently located for them. Consider traffic, parking and whether or not the area invites foot traffic.  How visible will your busines be in that location? 

Your Employees

Even if your type of business doesn't require customers to visit your location, you will have employees. Consider where your employees will be coming from, whether or not there will be a pool of qualified candidates for job openings and whether they will be able to easily commute to your location.

Other Businesses in the Area

If your business depends on attracting new customers, then the types of other businesses located near you is important. Consider what other retail and service businesses are in the area, what type of customers they draw, and whether or not they compliment or compete with your business's offerings. 

Once you've chosen the right place for your business to operate, contact us.  Whether you are looking to lease or to buy, we can help you find the right office space for your business venture.

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By: James Osgood

Office Leasing Tips , Office Relocation , Office Relocation Guides , Office Rental , Office Space , Tenant Representation

Advantages of Renting Office Space vs, Buying

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Surely if your business is firmly entrenched in the market, you have significant financial resources, and you plan on keeping your business in the area for many, many years to come, buying your commercial office space may be the way to house your business. Yet, you may still want to consider renting an office space. Here's why:

  • Lower Initial Investment - You won't tie up money you could use in your business. Many businesses get a higher return from their core business than they would from buying an office and the associated savings and appreciation.
  • Fixed or Adjustable - Every homeowner knows the pros and cons to this option. Do you want to pay the same amount every month for your property, or do you want to gamble with the potential of rising office rental rate costs. Ultimately, the market will tell dictate what your business will pay for rent. In a down economy, the idea of renting can be lower cost and offer significantly lower risk. The unfortunate Catch-22 here is that if the economy is good, your business will flourish, but you may end up paying some of that profit back in rent. But, then again, isn't that a nice problem to have?
  • Flexibility - Renting your office space also affords a business the opportunity to grow their office space along with the growth of their business. As your business expands with staff, operations, and more; renting an office will allow you to buy more or less office space as the situation dictates accordingly. This level of flexibility can provide a business owner with the peace of mind of knowing that they're not locked into an enormous space if they don't need it or too small of a space if their business has outgrown it.

More Information on the decision of whether to buy or rent office space.

"OfficeFinder, LLC" is the leading web based office space referral and information network, with highly qualified local office space leasing and sales professionals in over 550 markets. 

Contact us today to find the right location, negotiate the best price, and avoid costly mistakes. We would love to help your business find the best property available!

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By: James Osgood

Buying Office Space , Office Leasing Tips , Office Rental

How to Get into a New Market with the Help of a Small Office Rental Alternative

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So your business is booming, and you know it’s time to expand into another city. It could be 100 miles down the road or anywhere in the world. While you would like to operate out of the home office, you may have grownout of it and know it’s not a good use of your employees’ time to drive back and forth all the time, plus your business needs a presence in that city in order to drum up business.

This is where small office rental alternatives are very helpful. While small start up businesses might find coworking or virtual offices a good fit for their needs, this situation would seem to call for the rental of an executive suite. Businesses often set up branch offices in executive suites, also known as office business centers. Here are some reasons why this option would help focus your expansion:

  • Executive suites are run by an operator, who handles the day to day operations of the office. This means that, as with any rented office space, a backed up toilet or elevator breakdown is not your employee’s problem. They can focus on holding meetings and making connections in this new city.
  • Executive suites come with many of the standard office features you need for a professional look and experience: a shared reception area with receptionist, well equipped conference rooms, coffee and food service available, and both incoming and outgoing mail handling.
  • There is also the option for furniture and equipment rental, which minimizes your financial commitment and outlay to the new branch office until you are certain that it will be successful.
  • It is well understood in the industry that these arrangements are meant to be a shorter term, transitional type of arrangement, and successful businesses often shift from executive suites into their own office space. This means no worries over long term space commitments when you are assessing the viability of branching out. In other words, you have more flexibility in managing your office space.
  • Most executive suite operators also offer virtual office plans that will alow you to use thier address as yours and provide you as-needed office and conference room access.

So contact us today and let us know which city you are itching to branch into. We will help you find that perfect executive suite for this important transitional effort.

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By: James Osgood

Executive Suites , Home Office , Office Rental , Office Space , Serviced Office Space , Virtual Office Space

What Do You Want? An Office for Rent or Office for Lease?

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These terms, office for rent and office for lease appear to be inter-changeable to most people outside of the commercial office space industry. Probably the best place to start is in in defining what the differences are in an office for rent vs. an office for lease. When those of in the industry hear these two terms, they mean different things. To many outside of the industry they seem to be the same. The primary difference in the terminology is that an office for rent refers to a shorter period of time in which you are committed to pay rent. This typically ranges from month to month up to about two years. On the other hand, when those within the industry here the term office for lease, we generally understand it to be a longer period of time in which you are committed to pay rent; usually in the neighborhood of 3 to 5 years.

There are many options for businesses looking at finding an office for rent. Very often it is more difficult to find conventional office space for rent since landlords are typically looking for a longer-term lease, but there are many other alternatives for businesses looking for an office for rent. These office rental options typically range anywhere from a month-to-month to a year commitment. They include:

  • Executive Suites: An executive suite allows a business to rent an office within a fully managed office environment. In most cases a physical office will be rented and exclusively available for your use.
  • Virtual Offices: These are typically provided by executive suite operators and allow businesses to use the executive suite as their mailing address. They also provide the ability to use an office or conference room on an as needed, as available basis.
  • Coworking Spaces: This is the new kid in town and is very similar to and executive suite except that it is less formal, less expensive and focuses on collaboration between those that rent space in them.
  • Subleases: When you sublease an office, you are renting office space from a tenant with the landlord’s permission. This can be a somewhat risky endeavor in that if the tenant you are renting space from does not pay the rent or goes into default of their lease, you can find yourself without an office having been evicted. On the other hand, if you do take care and build in safety clauses into your sublease agreement that is approved by the landlord, it can be a very good option.

So what are you looking for? An office for rent or the office for lease? In either case the professionals at OfficeFinder can help you find the right space at the best price without the usual hassle. Give us a try. There is no cost to you. It is a no lose proposition.

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By: James Osgood

Office Leasing Tips , Office Relocation , Office Rental , Sublease Office Space

What is Most Important to Office Tenants?

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Determining your priorities is a key to finding the right office space for your company. A full needs analysis is critical in the beginning of the process to make sure you are looking for what you need. Abacus Office Finder in the UK has been doing an ongoing survey to determine what matters most when selecting office space for rent. Here is what they came up with:

  • Location 57%
  • Value 25%
  • Image 16%

Based on my 30+ year of experience in the business, it is pretty accurate.

If you want to go into more depth in analyzing your needs, we provide an Office Space Planning Checklist on our site so that you can make sure to consider all the major considerations when starting the process of finding you office space. In addition to the checklist we also offer an Office Space Calculator that allows you to determine the amount of office space you will need. Lastly, but not least, if you are considering an executive suite office rental, we offer an Executive suite vs Conventional Space Comparison Calculator that will reasonably accurately compare the cost of the two office rental alternatives.

All that said, the best way to make sure you get your office needs met is to engage the services of a local office tenant representative, like the ones at OfficeFinder, to make sure you consider all the factors you need to in your market. Every market has slight nuances that need to be considered.

Executive Suite
 vs. Conventional Office

Cost Comparison Calculator - See more at: http://www.officefinder.com/ExecSuite.html#sthash.TLU4UhRW.dpuf
Executive Suite
 vs. Conventional Office

Cost Comparison Calculator - See more at: http://www.officefinder.com/ExecSuite.html#sthash.TLU4UhRW.dpuf

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By: James Osgood

Executive Suites , Office Leasing Tips , Office Rental , Office Space , Office Space Design , Office Space Negotiations