First and foremost is flexibility. An office rental vs an office lease or purchase is for a shorter period of time. The rental term is typically anywhere from month to month to up to a year. As a result, renting can have a lower impact on your bottom line and may show up as less of a liability on your balance sheet than a longer office lease. You also won’t have to commit to a long-term lease that might not suit your future needs. This is especially important if your business is still in a fast growth mode or if you just aren’t sure how much space you will need in the future.
The downside to an office rental is that you have no rental rate protection in a market where the rents are increasing and that you only control the space for a short period of time. We always try to get our clients options to renew at predetermined rates to try to alleviate these issues. Another downside is that tenant improvement allowance are usually non-existent because of the shorter rental terms. So, you need to find office space that fits your needs as-is.
Office rentals are located in all the typical locations that leases are offered. Although, they can be harder to find, since most landlords prefer longer terms. They are out there, but you may need some help in finding the right one. A good office tenant representative can help you find and negotiate for one. They can be located in high-rise buildings or along store-front property, and even in free-standing structures. They can be in either a totally separate or a shared space; the basic concept behind an executive suite with services added on.
If you want an office rental and get the best deal possible, avoid costly mistakes and have a hassle free experience, we can help! For more information, contact us.
When looking at an office rental space, it is clearly important to consider what kind of place you really want to have. It has to be a good balance of needs and wants in the space in order to make it perfect. The business owner has to consider things like how much money he or she has to spend on an office rental, but it is more than that. Other factors such as space requirements and employee morale have to be weighed in as well.
In an entrepreneur.com article, author Christopher Hann quoting a man named Bill Armstrong, treasurer of the National Association of Realtors, when he says:
“If you lease more space than your business requires, your monthly rent could consume an excessive chunk of your precious resources. If you’re a startup, you’ll want to account for future growth. But how much? Be thrifty.”
That speaks to the point that one must think about how much office space they honestly need to rent in order to keep their operations running.
Once a reasonably priced office rental space has been located, it is important to lock in what kind of layout and design you are going to approach for your office. Some of the existing layout may well work for you to get certain things accomplished, but it may not work out exactly as you had hoped in the long run. It is important to consider all of these factors and think about if this is something that you want to stick with.
An office rental is important to every business owner because this is the centralized location where one will be doing all of their work. It is where workers will come in for perhaps years to come. Give it plenty of thought and find the place that is going to fit your needs just right.
It makes sense to get assistance from a professional office space tenant representative like the ones we have at OfficeFinder. It is a free service to you. Contact us about any questions you may have about how to find the perfect office space.