Category Archives: Office Rental

Is Coworking Space really just an Executive Suite?

Coworking spaceThere is quite a bit of public confusion over the terminology used in the office space industry regarding executive suites and coworking space. Many still believe that an executive suite describes the suite of offices on or near the top floor of a skyscraper where the top executives of a company used to work; including only the president or chief executive officer, various vice presidents and their staff. In other words, only the top brass. While coworking space is a relatively new phenomenon and many do not understand what it is. Here is some information that will hopefully clear up the confusion.

Essentially, what they both are is shared serviced offices operated by a management firm that house multiple companies. They have different styles to accommodate different workplace goals. Coworking space has become an extension of the executive suite concept with a different spin. Originally coworking space was intended to serve like kinds of businesses that could work together while still being independent. They have morphed into offices with networking opportunities with other occupants. Here is another article on the idea “WeWork Is Basically Regus With A Paint Job.” WeWork is the largest Cowork provider and Regus the largest Exeutive Suite Provider.

The executive suite / coworking centers are an excellent option for small companies, branches or companies that need flexible lease lengths. Many firms, large and small, choose to operate their business or satellite offices from an executive suite.

Executive suites and coworking spaces are both essentially shared offices with services provided by a management firm. They are a great way for small or growing companies to get off to a fast and low-risk start and a great way for a fast-growing company to have the flexibility for rapid growth. Whether you choose to go with the more conventional executive suite style or the newer coworking trend with depending on the way you want to work.

Generally, executive suites cater to those companies looking for privacy in their workplace; Businesses or individuals who want to be in offices. Coworking space is more suited to those looking to create synergy and network with other companies or individuals located in the space.

They both offer features such as utilities and janitorial, receptionist, secretarial,  personalized telephone answering, mail handling and coffee and food service on-site. There are still a lot more of services that you can avail. They are very much customizable depending on your style, budget and needs.

In an Executive Suite or coworking office, your efforts can be dedicated entirely to your business, while the management company is responsible for typical office management. You will enjoy a professional reception and support personnel without the headaches of hiring, training and employee benefits; state-of-the-art business equipment without purchasing and maintenance problems, and; a staff attentive to both you and your client’s needs.

Executive Suites, along with coworking office space, allows you the added flexibility of short term or long term obligations – both from a planning and a financial statement point of view. Other benefits include:

  • Convenience – A small office near home or the people you do business with every day.
  • Cost – Attractive, professional office accommodations at roughly 30-50% of the
    cost of equipping and staffing conventional office space.
  • Flexibility –  Full or part-time accommodations are generally available (hourly, daily,
    weekly, monthly, annually).
  • No capital investment – There is no need to buy or lease office equipment or furniture. Private offices can be completely furnished as well.
  • Control of operating costs – Offer state-of-the-art business support services which are billed to clients.
  • Higher productivity  – By leaving the operation of your office to a staff of trained professionals, your company personnel can concentrate on managing and marketing your business.
  • Enhanced technology and services – Most Executive Suites / Coworking space provide enhanced Internet technology and first-class concierge handling of business needs.

If you are interested in estimating the cost of an executive suite or coworking space, give our executive suite calculator a try. It will compare your costs at an executive suite type space with that of a conventional office space.

If you are looking for an office, we’d love to help. It is what we do day in and day out. We not only find the right space for your business but also negotiate the deal with you to ensure no mistakes are made and that you get the best deal possible. Contact us for your no obligation meeting.

6 Key Factors to Finding Great Office Space for Your Business

Great Office Space to WOWA great office space can WOW visitors, increases employee productivity, and promotes your business’ image. Choose the wrong space and you may find yourself with lackluster sales, low employee morale, and a floundering business. The key to finding the perfect office space, according to the U.S. Small Business Administration, is to perform a comprehensive assessment of potential locations. Make a list of “must have” attributes. Check out our office space planning checklist to help yourself focus your search.

1. Know the Zoning Laws

Zoning laws vary considerably by location, so it’s essential to become familiar with the regulations in your area. In general, you cannot construct a commercial building in an area zoned for residential property, the SBA notes. To check how a potential property is zoned, contact the planning agency for your municipality. Work with city officials to pay necessary fees, apply for licenses, and complete other paperwork to comply with zoning codes. If you run into trouble, hire a land use attorney to help you navigate complicated local regulations.

2. Understand the State and Local Taxes

Make sure you have a clear understanding of the taxes that you will owe to both the state and local authorities. These can vary significantly from jurisdiction to jurisdiction. You can usually find out information on the jurisdiction’s website or  consult your accountant.

3. Consider Your Visitors and Clients

Think about what types of people will be visiting your space. Will the office be used solely by employees, or will you hold client meetings there? Do you need teleconferencing capability? Does it need to meet industry regulations (such as those set by OSHA or another agency)?

The answers to these questions vary widely based on your business plan, but they significantly influence the type of office space you need. For example, if you want to impress new clients, consider an easily accessible downtown location or a luxurious entrance with a blazing fast internet connection

4. Choose a Location That’s Convenient for Employees

Your business can only be as great as the people working for it. To retain the best employees, carefully consider your office location. If you live in a city with a strong public transportation network, choose an office space near prominent bus or train lines. To make your office commuter-friendly, find a location with ample parking. Also consider perks that improve employee satisfaction, such as an on-site fitness room or a well-equipped break room, suggests Forbes. Thinking about your employees’ needs before you hire them will allow you to attract and retain the best candidates.

5. Decide on a Floor Plan That Complements Your Business Model

When possible, find an office space that requires the least possible renovation to save on costs. To achieve this goal, think about the type of office floor plan that makes most sense for your company. A tech start-up developing a new smartphone app might benefit from an open floor plan that allows employees to easily share new concepts. In contrast, your tax accounting firm may require private offices for each worker in order to increase client confidentiality.

When touring a potential property, consider your desired floor plan and whether it is possible to execute in the space “as is” or if you will need tenant improvements. According to the Harvard Business Review, the most effective floor plans bring employees together to share ideas while providing some private space. Think about the placement of executive offices, conference rooms, bathroom facilities, the reception area, and break rooms. Consider hiring an industrial-organizational psychologist or consultant for tips on how to best use office space to maximize employee efficiency.

6. Get Help From a Professional

There are specialists in your market who specialize in helping business not only find the right space, but also ensure they negotiate the best possible deal. They are known as tenant representatives. Like residential real estate brokers, they represent the buyer (or lessee) who is looking for property, but get paid by the landlord. In other words, there is no cost to you for their services and they are looking after your best interest. They only get paid once you are happy with your selection and make a purchase or sign a lease. They are an invaluable asset and in important team member for any company looking for office space.

While these are not the only factors to take into consideration when looking for office space, taking these 6 factors into account will help smooth out the process.

If you need help finding and negotiating for office space, please contact us. Our services and the services of our member tenant reps won’t cost you anything.

Office Space Rental, Productivity and Small Business Success

Helpful tips for an office space rentalChoosing the right office space rental for your business or organization means more than just choosing a physical location.  If you have customers visiting your property, then you want to make a good impression. You want to make sure it is somewhere that you employees will be happy and productive. Depending on your organization’s identity, you might need to appear trendy, modern, or traditional, and your physical location can help customers decide if you are the right place for them to take their business or not.  When choosing commercial real estate, the following tips are a few considerations that can help you find the location that is just right for you and your company.

Appearances are important.  Take a very close look at the property, standing in the parking lot, or on the sidewalk in front of the building.  If the building looks dingy and dirty to you, it will probably look that way to your customers and employees as well.  Unless you do not get any customer visits, make sure the location is somewhere that you would visit as a customer. Don’t forget your employees. Is this somewhere your employees would be proud to work?

Consider accessibility and convenience.  Many customers will simply not visit your location if it is difficult for them to park, maneuver a wheelchair through, or find the elevator or stairs.  While some inexpensive improvements may be feasible and advantageous, you do not want to invest more money into making your building accessible than you spend on the property itself.  Make sure the elevators and stairs are in good condition, ensure that the location is handicap accessible, and consider the ease of entering and exiting the parking garage or lot for your customers.

Check with the local City Hall to ensure that the property is zoned for your business.  If you have an unusual business, rezoning can take months or even years, and is a costly process that requires legal consultation and assistance.  Checking out the zoning ordinances for the property before you sign the contract is always the easiest way to avoid headaches and extra cost.

Current and Future Space Needs. Taking into account what your future ofice space rental needs may be is very important when signing a multi year lease that will lock you into a defined area. Whether you are a large or small company the basic needs are the same. You need to consider your office space efficiency, cost effectiveness, room for expansion, and strength of location. If your company is currently housed in an inefficient space the multi-step processes necessary to keep everyone ‘in the loop’ can create redundancy and confusion. While a move can be costly, if done correctly it can reduce future costs significantly. Would moving from your current location disrupt client service? Or are you able to make a move without affecting the product or service you provide?  Lots of questions to be answered before deciding to make a move.

Before Signing an Agreement for an Office Space Rental for Lease

Renting office space can be exciting and overwhelming all at the same time. In some of those anxious moments, it can easy to get caught up in all the excitement and sign a lease agreement that has unfavorable terms.  Since the success of your business largely depends on the right rental terms, you’ll want to check out a few important details whenever you are considering an office space rental.

The type of lease that’s being offered can make or break your business, as some could result in your paying large additional charges you weren’t prepared for. The common types of office leases are:

  • Net lease that includes base rent and a nominal charge for taxes and insurance
  • Double net lease that requires you to pay rent in addition to the entire cost of taxes and insurance
  • Triple net lease which mandates that you pay rent, taxes, insurance and maintenance fees
  • Fully serviced lease or gross lease in which the landlord pays for additional expenses and then passes them on as a “load factor and increased from a base year.”

When choosing a fully serviced lease, it’s important to understand what the load factor and base year means. It is essentially a way to calculate the total monthly rent when a tenant has usable square footage in addition to common areas. For example, a business could occupy space in a building where stairways, restrooms and entryways are common space. In this instance, the load factor covers the expense associated with maintaining these areas, spreading them evenly among all who use them. The base year is the year in which you must pay for any excess expenses over the amount for that lease year. You have to be careful that the base year is current or in the future when signing a lease.

Although you may be offered a deal for signing an extended office space rental or lease, if you’re a startup or growing business, you should be leery about doing so. That’s because you just might find the needs of your business change a great deal over the first couple of years. For this reason, you should consider a short-term lease that’s between one and two years if you are a brand new company.

It’s also a good idea to ask about initial improvement allowances, remodeling or redecorating when signing a lease. Most long term leases will include a tenant improvement allowance. Make sure you know if that is on a rentable or useable square footage bases. It can make a difference of 15% or more. You may choose to build cubicles, add new carpeting or paint the walls once you settle in, so you need to know if this is something that’s allowed. Many times, minor modifications are allowed as long as the structural integrity of the building is not altered in any way.

Consult an expert.   The perfect office space rental can be competitive and hard to find, so consulting an expert is your best bet.  An experienced tenant rep can help you locate inspectors, engineers, architects, or anyone else that you may need to get your business off and running in a new improved location. The cost of a tenant rep are paid by the landlord. There is no cost to you for their services, yet they represent you and don’t get paid until you are happy and sign a lease. You have nothing to lose. Just make sure and find an experienced one who will not only help you shortlist potential locations, but negotiate a great deal for you. They understand to nuances of leases and can help you avoid costly mistakes and save you money.

Office Space Alternative Choices for Smaller Businesses

office space alternativesIdentifying your priorities is a key to finding the right office space and determining an office space alternative for your company whether it is large or small. A full needs analysis is critical in the beginning of the process to make sure you are looking for what you need. Studies have shown that what matters most when selecting office space for rent is pretty consistent.

Here is where the priorities stand in importance:

  • Location 50%
  • Value 35%
  • Image 10%

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.

Operating a small business can be both exciting and lucrative. More and more people are leaving the traditional workplace to open their own ventures and becoming quite successful. Freelancing is becoming more and more popular. Many startups begin with only the owner working in the business which makes leasing or renting office space the largest overhead expense. There are practical ways to cut this big overhead item by thinking creatively. There’s no reason that every business needs a walk-up storefront in order to succeed.

Other than trying to find a small conventional office space for lease, here are some of the office space alternative choices available for smaller businesses:

Share an Office

If you have friends or colleagues who are also starting businesses that don’t require storefronts, consider leasing a spacious one or two room office and split the expenses equally. This reduces the costs for electricity, internet, janitorial, and other equipment leases. Instead of each office partner procuring a copier, fax, and other equipment that both parties use, only one item is needed, significantly cutting the cost. Compatible services work well in shared office spaces. One example that has proven to work great in shared spaces might be a software development company and a computer technology company. There are many other compatible combinations; just be sure there won’t be a conflict of interest or direct competition. Instead, seek an office mate that will be synergistic to your business, so you can help each other grow and thrive.

Executive Suite

These are shared office with services run by a management company. They provide not only office space but furniture, phones, Internet, office equipment and administrative service. They are typically a full floor of a prestigious office building and you will have lots of other small businesses around for networking.

Selecting the right serviced office is an important step in ensuring the success of your business. The reason for this nomenclature is that the office comes with all of the most common services already in place. This type of office is often called a “turn-key” office or an executive suite.

If you need a venue to hold meetings with clients, sign contracts, negotiate, and do some paperwork, this office solution might be just what you should lease. By renting this type of business space, you’ll have a furnished private office with computer equipment but share common needs such as reception area, meeting room(s), and other resources used by the entire group housed in the overall space. You’ll be able to use certain equipment and services on a “pay per use” basis.

Here are tips and caveats you should be aware of when selecting a serviced office for your business needs:

  • Location: Choose a location which is convenient for you, but also convenient for your clients. Is there parking available either on-site or nearby? What about handicapped parking? Is the building easy to spot or well-known? You want your clients to be able to find you easily and get to your door without walking blocks in the wind, rain, heat, or cold.
  • Appearance: Does the building entrance, lobby, and office interior make the statement about you and your business that you want and need? You need furnishings which are attractive and elegant yet not pretentious. Making the right statement about your operation is critical. Is the meeting room comfortable enough for a two- or three-hour meeting if those are occasionally part of your business lifestyle?
  • Equipment: Learn what equipment is provided in the turnkey office lease. You will likely find a desktop computer included but check to make certain it is powerful enough to meet your needs. Learn what the restrictions are regarding bringing in your own laptop or other equipment if needed. Realize that equipment you own may not be covered by the insurance covering other equipment, so keep this in mind and learn if the services provided by any specialized equipment are available nearby for a fee. Also, learn what speed internet connection is provided and ensure the speed meets your needs. If wifi is important to you, find out if it is in place.
  • Receptionist: Listen to the receptionist answer a phone call or call in yourself to see how the phone is service. Your messages will be taken by this staff person and your clients will have contact with him or her, so you want to ensure the job is done well.
  • Pay Per Use: Speaking of fees, you want to make sure exactly what the fees are for every pay-as-you-go service. These services will almost certainly include use of the copier and fax machine but may include other services such as large paper printers, binders, or other less common equipment. Ascertain that the costs are reasonable. Compare prices with nearby providers for services you use in massive quantities; it may well be less expensive to have the local Kinko’s or similar store produce large copying jobs. Ensure you don’t get “nickeled and dimed.”
  • Lease Provisions: Carefully read all the provisions in the rental agreement. Unlike renting vacant office space which you staff, there will be extensive details about what your private area will contain and what can or can’t be done with it, who must maintain what items, and other matters which deserve your attention.

Provider: Find a reputable executive office suite provider to help you locate the perfect serviced office. You can find great brokers online, Like OfficeFinder.com, who have sound knowledge of this type of office and are waiting to help you.

Coworking

Much like office sharing, co-working is a office space alternative concept originated in 1999 where entrepreneurs and small business owners who share the same values ban together to form a community of business people. Coworking usually begins when networking partners find they enjoy the social aspects of working in the same space and may often help either other’s business in various ways. The partners then lease an office space, sharing all expenses. Each of the co-working partners conducts their own business in their own workspace in the shared office and the co-workers may share support staff such as receptionists or clerical staff in order to keep overhead costs low while providing everyone effective support for their small businesses. This concept is growing into a great solution for hundreds of like-minded small business owners.

Coworking is a style of work which involves a shared working environment, sometimes an office, yet independent activity. Unlike in a typical office environment, those coworking are usually not employed by the same organization. Typically, it is attractive to work-at-home professionals, independent contractors, or people who travel frequently who end up working in relative isolation. Coworking is the social gathering of a group of people, who are still working independently, but who share values, and who are interested in the synergy that can happen from working with talented people in the same space.

Some coworking spaces were developed by nomadic internet entrepreneurs seeking an alternative to working in coffeeshops and cafes, or to isolation in independent or home offices. Surveys show that many employees worry about feeling isolated and losing human interaction if they were to work remotely. Roughly a third of both private and public-sector workers also reported that they didn’t want to stay at home during work. Coworking offers a solution to the problem of isolation that many freelancers experience while working at home, while at the same time letting them escape the distractions of home.

Business accelerators, business incubators and executive suites do not seem to fit into the coworking model, because they often miss the social, collaborative, and informal aspects of the process, with management practices closer to that of a Cooperative, including a focus on community rather than profit.

Coworking is not only about the physical space but mostly about establishing the Coworking community where businesses can work together creating a synergy.

The benefits of Coworking can already be experienced outside of Coworking spaces and it is recommended to start with building a Coworking community first before considering opening a Coworking space. However, some Coworking Spaces don’t build a community, they just get a part of an existing one by combining their opening with an event which attracts their target group.

A lot of Coworking communities have been formed by organizing Casual Coworking events that can take place in people’s living room or in public places such as suitable cafes, galleries or multi-functional spaces. During these events Coworkers can experience the benefits of Coworking and get to know each other which lowers the barriers to join a Coworking space later.

Virtual Office

Today, you really don’t need a specific location for an office with walls. With mobile wireless internet services, hotspots available in most metro locations and even urban areas, multiple personal data devices, and smartphones that do almost everything a computer does, it is possible to work anywhere at anytime. You can operate your business from your living room sofa, poolside, in your vehicle (please stop your vehicle in a safe location before texting or computing for safety), in a coffee shop, at McDonald’s, and right at your client’s desk. By using online services such as GoogleDocs, your information can be safely stored online for presenting to your client easily. With outsourcing of many tasks, you can take your laptop and smartphone and conduct business in any location you desire. If you do have a need for an office, Executive Suites also offer a virtual office service as a office space alternative that allows you to use an office or conference room on an as needed basis.

Lease a Desk in a Business that Buys Your Services

Often, a small business begins because on business requires the services that will be offered. For example, an insurance company may regularly require the services of a licenses investigator. If your small business is complementary to a local business, check into leasing a desk in an unused area of the office. In tough economic times, many offices are willing to lease a desk space to a small business that is not in conflict with their own business.

Home Office

The vast majority of small business startups begin in a home office. This type of office space alternative allows the entrepreneur to begin conducting business without making a huge commitment to overhead expenses. Also, many owners of small startups begin their venture while working a traditional career, making certain their business will succeed before giving up the regular paycheck. Some of these small businesses never move out of the home office, even after hiring an employee or two. Of course, if the operation grows large enough or requires a great deal of inventory, the time will come to move from the home, but many virtual service businesses never leave the home office.

More and more entrepreneurs today are operating small but profitable businesses from the comfort and convenience of their own homes. Most home-based businesses start small and provide a second income to a person that works in a traditional workplace. As the business grows and thrives, many are choosing to grow their home businesses and give up the traditional job.

There are some very clear advantages to being able to work from a home office; there are also some drawbacks to consider. Here are a few of the points to consider if a home-based business is in your future:

Pros:

Freedom: When working from home, you can often set the hours you want to work. You can maintain better flexibility when time is needed for children, doctors appointments, and other things you’ve longed to be able to fit into your schedule. This can be a huge advantage for self-motivated people. Lots of productive work can be accomplished after the kids are in bed or very early in the morning.

No Commuting Hassles: No one really enjoys commuting to work, whether they drive, carpool, or take mass transit. Commuting eats into your free time when working in a traditional office. With a home-based business, your commute is only the distance from your bedroom to the room you have set aside for your workspace.

Time Savings: Without the commute, you will save many hours a week that you would be normally in your car.

Tax Benefits: Home businesses often qualify for business dedications when income tax times rolls around. Of course, you’ll need to speak with your tax professional but you’ll likely be surprised at how much you can deducted for your home office and operating expenses, significantly reducing your tax burden.

Low Startup and Operating Costs: There is little overhead with an office space in your home. After all, the room was already there, you just hadn’t defined it as your office previously. You may need to update your computer or add an extra phone line for faxing, but the costs of start-up will be minimal compared with a traditional office. Also, there’s no rental or lease to worry about. You don’t have to own nearly as large a collection of professional clothing when working from home.

Cons:

Discipline: Working from home requires a great deal of self-discipline. It’s very easy to become motivated at first, but over time it is also easy to allow yourself to see all sorts of things that need done around the home and begin procrastinating about business tasks.

Business and Family Overlaps: It’s also very easy to allow your family to interrupt your business time. Just as easy, many people end up spending time working that should have been quality family time. Making a set of clear boundaries is necessary but difficult.

Boundary Issues: It is very easy to “go to work” since it is just around the corner, but it can lead to family problems of another kind.  There is no boundary between home and work and it can become a problem, or a very delicate balance, for the very highly motivated entrepreneur.

Stagnation: Lack of social contact is an issue for some outgoing people who decide to try working from home. It’s also very easy to lose contact with your professional network. This makes it much more difficult to remain on the cutting edge of progress.

Pressure and Stress: While working from home is flexible, it is also easy to work yourself into stressful, pressured situations. You want to please all your clients and generate constant leads. Many people become overwhelmed by trying to do too much. Some set unrealistic goals. They attempt to achieve them while others simply take on too many clients or fail to outsource when necessary.

Image: Depending on your client and customer contact, your company’s image could come into question. Setting up a client meeting at home or Starbuck’s can be less than impressive. There are alternatives such as a virtual office. They are pay-as-you-go subscriptions for office space. You have an official business address with an executive suite operator. You can use their facilities on a “as needed” basis.

Warehouse Rental

Storage warehouses of various sizes are zoned commercial and in most areas can be used as a business location. These warehouse locations are great for the small startup business that manufactures a product, purchases and adds quality to an existing product before sale, and service companies that provide auto repair, computer repair, and similar services.

If your business is the type that does not really benefit from a “flashy” storefront, this can be a great solution for keeping your startup costs very low. Traditionally, people seeking auto repair, auto body work, auto paint, motorcycle accessories or repairs, and similar services tend to believe that if the storefront is too fancy, they will be overcharged. These types of business can actually benefit from the casual office space offered by leasing a storage warehouse. Just make sure the type of business you are starting meets the zoning regulations and the landlord’s lease restrictions.

We’d be happy to help you with finding the right office space alternative. Let us know a little about what you need and we can get to work identifying some options for you. There is no cosst for this service. Give us a try!

 

No Office Tenant Rep? Don’t be Stupid!

It’s time to make that big move, a larger rented office space. This is good news, because it means your business is growing, but it’s a frightening prospect, to take on that much more commitment and responsibility. You know, when you were purchasing the house that you now live, that the services of a realtor were essential to the successful conclusion of the purchasing process. Believe it or not, the same is true when you are seeking an office for rent, and for many of the same reasons and why you need an office tenant rep to help you.

  1. As you know from your own experience with a residential home purchase, there are realtor commissions built into the sale. The same is true with commercial transactions and tenant representatives, which means that it is always worth your time to engage the services of a tenant rep; those services cost you, the renter, nothing extra. It is FREE
  2. Like a home realtor, an office tenant rep has the experience and knowledge to successfully negotiate the varied and complicated processes involved with successfully researching, negotiating and closing on a lease for commercial office space.
  3. An office tenant rep will be able to answer all your questions and help you understand the consequences of the choices that you will need to make during the process. In addition to the obvious questions, such as location, cost and length of lease, there are a number of other factors which need to be considered when renting office space. A good office tenant rep will help you recognize those issues and make the best decisions for your company’s future success.
  4. As with any negotiation, experience and expertise are key to a successful outcome. Tenant reps negotiate on behalf of hundreds of small business owners such as yourself, meaning that they understand all the critical issues and know how to negotiate on your behalf for the best possible outcome.

What does an Office Tenant Rep do?

Let’s hear it directly from them. The following is from our OfficeFinder LinkedIn group discussion on the most important activities Tenant Reps provide their clients in addition to just finding space:

“I believe the top Time & Money saving services that we provide to clients all revolve around the Transfer of Specialized Knowledge to the client, so that they may make the most informed decision. Up to date market information, understanding the players involved, defining and executing the process required for a successful outcome and most importantly, proactive advocacy, each individually represents significant savings for a client.”

“Avoiding mistakes is very important aspect of why tenant representation is so important for office tenants. We do this every day, just like the landlords and listing agents. Tenants only search and negotiate for office space every few years. Landlords and listing agents love to see tenants coming unrepresented. It makes their business much more profitable than when a tenant is represented by experienced and knowledgeable tenant reps…like the ones we have at OfficeFinder!”

“We provide lease digests and early reminders of important dates i.e. rights and renewal options. We also place these dates on an earlier call up internally so that we remind the tenant that they need to be addressing their real estate needs, even if their intent is to renew. We also assist with renewals. In today’s market the lease signed five years ago is most likely far above today’s market rates.

A 10% discount off of today’s asking rate may sound good however, the market may be giving a 25% discount. Only through the use of their own broker can a tenant gain an accurate opinion of today’s market.

Any business who leases office, retail or industrial space expiring within the next 6 to 18 months should be talking with a broker to represent their interests. This not only pertains to renewals subject to negotiation but also pre-stated rent renewals. This is also a good time to negotiate terms and conditions not included in the original lease.

We have a good system in place and when started at the right time in the renewal process, we have been successful in leveraging our position, procuring rent reductions and changes in other terms beneficial to the tenant. We’ve also been able to facilitate early renewals where the tenant benefits from the negotiated terms and conditions sooner than later.”

“There is absolutley no question as a tenant representative we can all save our clients real money in the transaction and “time” money by not only doing things they would have to do but also the fact we know what to look for in the first place.

We might want to consider the money we can save clients by handling non-transactional issues after the lease is signed. Two examples: 1) client is a 501C-3 teaching museum- eligible for property tax relief. Worked with county and LL-client received over $100K in refunds over 12 years. 2)Client located in Enterprise Zone. Another client/accounting firm specializes in that area of tax. Put them together…anticipate over $500K in saving over next 6 years. There’s a lot more we can do than just focus on the transaction. Just my $.02 🙂

So are you ready to take that leap of faith and rent larger office space? Don’t go it alone. Contact us today to engage the free services of a tenant rep for this important step into your company’s future. It is a no lose propositon.

3 Flexible Office Space Alternatives to Conventional Office Space

flexible office space alternativesLooking for flexible office space alternatives? Don’t want a conventional office space? Considering your alternatives for a workspace? If you are starting of new business, considering a new base of operation or need a physical office space, here are some modern alternatives that can save you money on your rent costs; Coworking Space, Executive Suites and Virtual Office.

Coworking Space

Have you heard about “coworking space”? Unlike the typical office setup, a Coworking Space allows you to work in a casual and relaxed work environment that will suit your style and requirements. This is a facility that you will share workplaces by different professionals, different industries and mostly freelancers. Coworking Space promotes collaboration, creativity, best practices sharing, networking, socializing and creating new business opportunities. This is great for freelancers and independent professionals because of its flexibility allowing you to expand or contract as needed, with no long-term contracts. Coworking spaces are generally less expensive than Executive Suites, which you will find out more information about next. More…

Executive Suites

Now if you need more privacy and confidentiality, you should investigate an Executive Suite. Executive Suites are essentially shared offices with services provided by a management firm. They are also known as an Office Business Center or serviced offices. The disadvantage of this privacy is that you will miss some of the networking and collaboration available in coworking spaces. However, this is also great for small businesses and startups. You get the same benefits or services of having own facility at lower cost and with no long-term commitments. It is a great way to have project a good brand and identity to your client as they your office located in impressive business centers. More…

Virtual Office

Home based jobs, running or starting up small businesses from your home are very rampant nowadays. This is because of the available technologies and internet access can provide, nothing is impossible in running your business wherever and whenever you want. Almost everything can run virtually in the cloud. However, we must accept that frequently clients and customers are looking for assurance the and one way to give them that is to provide an established office address. A Virtual Office rental is one of the solutions. Having an established and prestigious business address will make your clients or customer more feel secured and confident in doing business with you. In Virtual Office, you’ll get to enjoy the same convenience of having your own business address such as having a local number, mail box, admirative support and very presentable meeting rooms at low cost. You can continue working comfortably of your choice, from home or other location while you keep your virtual office as your official business address. More…

All these flexible office space alternatives offer benefits to small entrepreneurs or working from home businesses and freelancers. It will simply give you the office-feel environment, yet you still have the benefit of flexibility.  Some of the common advantages of getting these types of office set are that you will be more effective; especially if you are working from home. It is a much better replacement if you sometimes use cafes or restaurants to work or meet clients. They also will help you avoid distractions.  Working in these types of workplaces will help you avoid loneliness and burning out. You will be surrounded by other passionate entrepreneurs who will help energize with their energy in striving for success. Most importantly is the flexibility, it allows you to rent a space shorter or longer, bigger or smaller space, it’s very flexible allowing you to work your style and within your budget.

Whether it is a virtual office, Coworking Space and Executive Suites, we hope we helped you to get a better idea of your office space options.

OfficeFinder is ready to assist you in your search for flexible office space alternatives at no cost to you!

OfficeFinder, LLC is a leading web-based office space referral and information network with highly qualified local office space leasing and sales professionals throughout the US and Canada. OfficeFinder collaborates and continuously exerts effort to connect with large, small and well known commercial real estate companies.  Professionals from OfficeFinder are great partners who can help you to locate and find the right business space that suits both your needs and style. Simply contact us and provide a few details for us to be able to assist you. There is no obligation and there is no cost to you. You get assistance and options you need in finding the best workspace for you and your company!

What Millennials Appreciate About Coworking Spaces

millennials in coworking spacesCoworking spaces can be very socially engaging, educational and informative if we choose the right environment. Millennials are looking for work environments that engage them at all these levels with little or no cost to them. Historically, as a group, millennials are the generation to have emerged from college with the greatest debt to date. So let’s talk about what millennials want their work environment to look like.

Social Engagement

Millennials are prepared to work, work hard, and they want to be engaged at work. This doesn’t mean that every minute of the day needs to be a new learning experience but feeling connected to what they do. Often that connection comes in the form of external engagement like taking part in local, national or global responsibility projects. This is hard to do if you have a small company but coworking spaces offer the ability to connect with others in your work space to feel the sense of community and connection. These type of social action programs are often offered by the managers of the coworking space or maybe by one of the companies working there. So look for a space or ask about if this is a priority for the space you are considering.

Ongoing Education

Millennials are lifelong learners. Whether it is online through places like Udemy or in the office through continuing education programs, coworking spaces can offer small companies the ability to ban together to gain greater access to educational resources they may not get alone. In some cases, the coworking spaces may provide the opportunity for its tenants for a discounted fee or free of charge depending on the seminar.

Staying Informed

Staying aware and informed of changes in the economy, your field or maybe a field that the millennial is considering entering. Coworking spaces bring engaging speakers and presenters to the office to create a more aware workforce of the changes happening. This is such an important part of one’s desire to grow and learn. Ask if the coworking space you are considering brings in local speakers or if it provides a platform to learn from office mates.

Coworking spaces offer millennials the chance to stay or become engaged in social action issues, keep up their education for little to no cost and remain informed about their knowledge space. Providing these benefits help millennials feel fulfilled and coworking spaces can offer these benefits.

Contact us for more information on finding the right office space for your business.

Creating Connections in Coworking Office Space

coworking office spaceCoworking office space provides you a great opportunity to make business connections and generate new business from within. Just outside your office door are so many potential clients. Are you using your work environment to your competitive advantage?

Here are three tips for how you can create meaningful business relationships in your own coworking office space.

  • Participate in Informal Networking Events. Most  coworking office space offers their resident companies learning opportunities, lunches, happy hour activities, and other times to just gather in the common areas. Use this time as chance to get to know the companies around you. Find out more about these companies lines of business. Remember to bring your business cards with you too.
  • Monitor Message Boards. Many coworking spaces offer a place to post information about yourself and your company. This is also a chance to see if others are posting job opportunities too. Often you will see that companies are posting for accounting services, graphic designers, videographers or legal services.
  • Use Your Space as a Calling Card. Many coworking spaces allow you to put your logo on your door or on the windows to your office. Use this also as an opportunity to create a poster sized board within site of the common areas with more information about your company, something similar to what you might bring to a trade show. The companies around you will get a chance to see you and your line of business. This may encourage them to knock on your door.

The best by-product of coworking office space is that opportunity lies just outside your door. Contact us for more information on how we can find the right office space for you.

Coworking Office Space is Where Happy Meets Hard Working

coworking office spaceDo you remember the last time you were in a coffee shop? Maybe you only walked by but you could see the patrons, content and happy. Remember the that great aroma, that relaxed atmosphere?

When was the last time you looked forward to going to work? No, I mean the last time you were honestly driving to the office with a smile on your face because you were going to work.

Best of Both Worlds

Welcome to the beauty of Coworking. What is Coworking? Imagine the feel and comfort of that coffee shop, then imagine that coffee shop being your office. Now you are getting close.

Have you ever worked around or with people you like, respect and that make you better? These are the teams, staffs and co-workers we remember, miss and desire to work with. One reason Coworking works is just that, it creates a space where like minds, kindred spirits and creative people all come together.

Now take that coffee shop, fill it with those people who inspire and respect you and then you have the answer to what Coworking is – and why it works. It’s no secret that a happy worker produces better work, that better results and production are the result of a healthy and happy working environment.

Will Coworking Office Space Work for You?

Who is Coworking for? Well if you work remotely or as a freelancer and are looking for a working space, some structure to your day and an office that will promote, empower and make you feel at ease – it is for you. What is Coworking?

Coworking is the best an office can offer and the best people you can work with, and it is the reason you will wake up excited to go to work! Contact us to learn more about the best thing to happen for offices since the copying machine and how we can help.

Take a virtual tour of Coworking office space in Seattle.

Visit the Level Office in the Historic Pioneer Building.

Pioneer Building Office Space Virtual Tour


Click Here to view in full screen (recommended)

We have over 30 virtual tours of coworking office space and  executive suites in the Seattle / Bellevue areas available for viewing, as well as other listings, market information and general information on our Local Seattle office space page.

If you need help finding office space, please contact us. Our services and the services of our local reps is free to you.

 

Tenant Tip: The Best Kept Secrets for Renting Office Space

renting office space secretsThere is no doubt that renting office space is an extremely important business decision. The space you lease will often be your clients’ very first impression of you and your company. It is also where your employees spend the majority of their time. General location decisions take care of the coming and leaving issues, but what about the time you and your employees spend at the office? As a tenant representation firm, one of our challenges for our clients is considering what your experience is going to be once you’re operating your business in a chosen building.

The Little Things Matter

The little things include cleaning the carpet, painting the walls and conducting small repairs before a business moves in, allowing it to start its tenancy with you on the right foot. Big things tend to include a general aura of professionalism, for example, with prompt response rates that make you as a tenant happy.

Ongoing maintenance helps keep your office space in tiptop shape. Makes sure to investigate how often you will receive janitorial services.

Of course, not all property management companies offer the same standard of service. It’s important to go over the list of services a company provides and check their reviews from the other tenants.

The above features and much more enable you to direct your energy into your business, making more money and enjoying your time away from work not wondering when the landlord will fix damage to the entry way of your office; keeping your office in pristine condition and likely end up saving you money and stress in the long run.

Guest Post by our Atlanta Rep. JGRE has been a proud member of Office Finder for 20 years.

If you would like assistance in renting office space and negotiating the best possible deal with all the little things considered, contact us. We have local reps who can help you free of charge throughout the US, Canada and many other locations world wide.