The office space industry today is such that professionals and business owners can actually afford to move out of their home office to space that more than provides them with workspace but also can improve their business’s image. Moving from a home office or a remote-working situation almost always improves the ability of businesses owners to effectively manage their affairs simply because they are in the business element. However, finding office space still requires some knowledge of the office space landscape.
Conventional leasing options still leave many business owners having to invest a lot of money in not only the initial deposit and start-up costs that go toward leasing the space, but also the costs related to running the office on a daily basis. If your business is based in one of Australia’s major cities, then plan to pay a lot more on office rents simply because it costs more the closer you move toward the CBD. However, businesses of all sizes can find appropriate office space, and even in places like Melbourne and Sydney.
Let’s take a closer look at the factors business owners should take into consideration when leasing office space.
You Have Options
As stated previously, office rents in some of the more prestigious locations are high, but it does not necessarily mean that you cannot afford to rent space in some of these same areas. As opposed to leasing through traditional leasing companies, consider the serviced office providers. Providers such as Servcorp office space can fit out your business with a few workspace solutions.
Typically, serviced providers can fit out your office with a fully-furnished office that is staffed with a receptionist and other office support. Then, for businesses who do not necessarily need office space daily but need access to the amenities of an office, the virtual office and coworking space are great options that can drastically reduce your overhead. If with a provider closer into the CBD, these offices typically are located off some of the finest addresses in the business district.
Length Of Lease
Another important consideration is the length of the lease. If you are looking for a lease that will give you some flexibility outside of the standard lease, consider going with the serviced office provider whose leases tend be much shorter, some being as short as month-to-month. This is a great option for start-ups, businesses relocating internationally, or businesses in the middle of a major transition.
With a conventional lease, businesses might find that the contract runs from one, three, five, and seven-year contracts. With longer leases, landlords might be more amenable to lowering the rate simply because they want to fill the vacancy, but if you are a new business, a long-protracted lease might interfere with your business as it grows. Furthermore, breaking a lease can be costly, which might make the situation more complicated.
Lease Type
Outside of the serviced office lease, you can find a number of lease options. However, within this group, probably the most common leases are the all-inclusive leases that pay for all of the utilities, internet, and amenities and then those that only include the rent. The benefit to all-inclusive leases is that your monthly payment will remain consistent, which is better for budgeting purposes, even though a rent-only lease will result in a lower payment from month-to-month on just the rent.
Finding Space For Lease
The hunt for appropriate office space can be an adventure. In many cases, the leases are complicated enough for renters to seek out the services of a real estate proprietor. Alternatively, renters do have a few other options that can provide them chic office space without the hassles of a protracted lease and an expensive price tag.
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