Office Space For Lease

Should office space rental be a viable option in today's slow economy or is now the time to actually buy office space a good decision given the buyer's market for almost any type of real estate? If a person buys administrative business space, there are some upsides to the decision such as having fixed costs so that budgets can often be projected for several future years, tax deductions for mortgage interest and property taxes, and as the equity grows in the physical building, the owner can later use that equity growth as part of a retirement plan. The down sides of buying administrative workplace property are the lack of flexibility to move quickly to a more advantageous location or to add more space and the large upfront costs that are incurred in buying property, either new construction or existing structures. Such decisions should be weighed carefully before making a future regrettable decision. But what about the advantages of office space for lease?

The advantages of securing workspace area through leasing begin with the idea of being able to conduct business in a prime location perhaps not readily available if the decision were to buy administrative workplace property. If a hair restoration service could secure office space rental next to one of the most prominent plastic surgeons in the area, the location could prove to be a very lucrative one of the restoration business. Or perhaps another example could be the ability of a maid service to secure office space for lease next to a very exclusive real estate company. That combination could also be extremely profitable. There is another huge advantage to renting administrative work space and that is the freeing up of working capital. Money that would otherwise be tied up in remodeling or real estate improvements or property taxes and other property liabilities can be used for advertising, marketing plans, additional staff and other business advantages. Finally, securing office space for lease enables the venture to spend more time on the business and less time on the constant hassle that property management induces. From leaky roofs to cracked windows and faulty plumbing, the owners have much bigger headaches.

Of course the decision to secure office space rental facilities means that there will never be any chance to build equity from real estate ownership. Forever the business under consideration will be helping some other owner pay for his/her building. Making building payments for a nameless corporation or real estate entity can almost be depressing if the reality is dwelt on too long. And then consider that leasing means that from year to year rental costs can go up, often without a ceiling on the amount of lease increase, and budgets can be blown to smithereens without any recourse available. But for the sake of this article, assume that the decision to rent has been made. Workplace rental areas are available all over the United States and hundreds of online property management companies are ready and willing to assist the potential client in finding the right location.

There are some important considerations for the business venture leasing real estate property. For example, the first consideration after price will be the geographic location and the accessibility to that location. Is there public transportation available to that address and are major thoroughfares on or near the address? Will the layout be open styles or partitioned offices, and how many employees will there be at this particular site? Some online office space rental locating services offer an office area calculator to help management know how much square footage should be needed. A traditional workplace layout for ten employees calls for about twenty two hundred square feet of space with no special needs required.

The leader of a company is suggested to have between three and four hundred square feet of office space while a secretary can operate with between seventy and a hundred square feet. And what about windows? Higher level staff members need to have windows in the office, but if a company values morale and efficient administrative workers, perhaps windows are also a must for them, unless staring out them could be a problem! When it comes to the lease's components, considerations should be made to the right to extend the lease, expand the lease and the details of terminating the lease and first right of refusal on adjoining square footage should be included. "Wait on the Lord, be of good courage, and he shall strengthen thine heart: wait, I say, on the Lord." (Psalm 27:14)

But what if a business is just getting started and there are only one or two employees and those workers can actually work out of their homes, but a real need is for that business to have an address in a prestigious location for validity? There is no need at all to secure office space for lease. Then the answer is the virtual office location. Having a "no office" office could never be easier. Think of all the amenities: a business can get a very desirable business address, mail box and mail forwarding, use of a day workspace area on a rental basis, guest reception during normal business hours, conference room use, administrative support as needed and access to business equipment, all for about three hundred dollars a month. Making the decision to secure workplace facilities can be a very important decision for any commerce venture. It is highly important that a potential client use experienced professionals to work through all the details in this decision of securing office space for lease.


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