Office space rentals can often be a good source of extra income for many small businesses. In this tough economic times, an office rental agreement can help you make extra money without raising your overhead expenses. Even when the economy improves, renting office space can still be an excellent way to make money. Using office space for rent can actually help you save money in several different ways, as follows:
- Negotiating leases is a key strategy for all landlords. This is because the more flexible you are with your terms and conditions, the more likely you are to lower your costs and make more profit. By negotiating your lease you can often reach an agreement that provides better flexibility than what you would achieve with a standard written lease. To help you out with negotiating, you should get some expert advice, or a leasing attorney, to help you out with the negotiation.
- There are two parts to successful negotiations – research and use. You should conduct lots of research, and gain as much knowledge as possible about your market area, the office space you are looking at, the terms and conditions of the lease, and any use clause that may be attached. You need to prepare for potential problems with the landlord. For example, some offices have an ‘out of area’ policy. Others may require that you prove that you’ve used this particular office space before and have no other arrangements. Make sure you know what the terms and conditions are for the area you are looking at, and always read the fine print.
- Be cautious of hidden fees and charges. Some office spaces have hidden fees that can raise your costs dramatically. For example, some office spaces charge a security fee (or an insurance premium) every time you use the place. If you’re not prepared to pay such charges, you may find that you have to downgrade to a lower level of service, such as the use of a secretary, or lower-quality mechanical and amenities. Don’t hesitate to ask about these fees, and know what you’ll be paying if they’re applicable.
- Brokers can often identify properties you’d like to consider. They have relationships with various places and may have even had the experience of your exact needs before. When you contact brokers, make sure you get as much information about the lease office space you are considering as possible, so that you can determine whether it’s right for you. You can get more information about co-living thailand.
- To ensure that you get the best deal, consider asking the broker to provide financial records on the location. The brokers will usually be able to show you several office spaces that match your criteria, as well as their location relative to your business needs. This may include sales prices, average daily rents, average floor plans and more. This information can give you an idea of the true market price per square foot, making it easier for you to choose between locations. You can also check to see if the broker has already found space at this location that matches your needs.