Office rental rates will vary in the commercial real estate market. The exact price of the office space will depend on a number of different factors. Some of these considerations include size of the rental space, location, amenities included in the commercial office space, parking options and more.
All of these factors come down to the set price per square foot. In the past, price per square foot in commercial leasing situations was pretty much set in stone. There was little flexibility in the price terms and the prospective commercial tenant would just have to take it or leave it. Today, this trend has changed a bit.
Commercial Office Space Leasing Has Decreased
Since the economy has been less than stellar in the past few years, the need for commercial office space has decreased as fewer individuals and companies had the money to embark on a new office space lease. This can be good for negotiating deals with the price per square foot for commercial office space tenants. Since landlords are more eager to occupy their commercial properties, they may be more likely than not to negotiate a bit when it comes to the overall asking rental rate.
Commercial Landlords Are More Willing To Negotiate To Get Rentals
Commercial landlords are well aware of the fact that they are not doing as well as they were approximately 8-10 years ago in the commercial real estate arena. With this in mind, they know that they must negotiate or risk losing potential commercial tenants who will ultimately go on to another commercial landlord who is willing to negotiate the asking rental rate. Even though the commercial landlord may not be getting their asking price, they are gaining a new commercial tenant and know that they will receive money as a result of the lease agreement.
Ways to Make Price per Square Foot More Negotiable
If you find an office to lease and the landlord is not exactly pleased about negotiating the asking rental rate, there are ways in which you as a tenant can make the price more negotiable and ensure that the landlord will be more willing to negotiate on price per square foot.
First, make sure you are not too demanding with regard to other aspects of the lease. Don’t ask for multiple inclusions to the lease agreement and the landlord will be more likely to appease you when it comes to negotiating as to price per square foot. Also, be mindful of the current commercial real estate market. If the market in your area is still in a less than favorable position, you can feel more confident knowing that the commercial landlord may just agree to your price per square foot negotiations.
Many smaller companies today are finding that it is difficult to keep up with office space. Owning office space can be expensive and may come with difficult upkeep. However, you do have another option available to you today – cheap office rental rates. This is becoming a popular option for smaller businesses, which helps to improve business image for a reasonable price. If you’re not sure that this option is right for you, here is a look at some of the top reasons to go with a serviced office rental for your business office needs with Tips for purchasing an apartment.
Reason #1 – Low Cost
One of the main reasons to go with a serviced office rental arrangement is because you can enjoy low cost offices. You can make a payment on a monthly basis for the office space, making it easy for you to budget out your finances. The great thing is that these arrangements usually include utilities, reception facilities, business rates, rent, and more. This means you don’t have to worry about other costs during the month, which can really save you a huge amount of money.
Reason #2 – Boost Company Image
Another reason to go with a serviced office rental is to boost your company image. Usually you’ll find that these offices come with all the business resources you will need. You’ll enjoy having professional reception areas and a nice modern office that will allow you to impress the customers that come your way. When you want to make a good impression, renting a serviced office can definitely be a great choice for your company image.
Reason #3 – Provides Great Flexibility
You’ll find that renting serviced offices also help to provide you with great flexibility for your business. Usually you can go with short financial commitment contracts, which means that you can upgrade or downgrade the office space you need without a problem. It offers flexibility to smaller businesses that may have great changes to their needs over time.
Going with a cheap office rental rates will also help you to save a whole lot of time, which benefits most small companies. You may find that you never seem to have enough time in the day, which means that this arrangement may be the perfect option for your needs. You won’t have to worry about dealing with security agreements, building insurance, or even utility companies, which definitely saves a huge amount of time. Usually the offices come with secretarial support and other facilities that are needed, which offer you easy access and many time saving aids. This allows you to concentrate more on running your business and making better profits.
If you are putting up a business, there are a lot of factors to consider in order for your company to reach its full potential. You need to have enough manpower, facilities and equipment, and a lot more. However, another factor you need to consider is having a convenient office space.
When looking for an office rental, see if there are available local amenities around the area. When your office is near restaurants, shopping malls, and other commercial buildings, this will provide convenience to your staff and clients.
It should be able to provide good atmosphere for a better business management. However, managing your own business is definitely your main concern, which is why finding an office space can be a daunting task. Good thing there are a lot of available serviced offices that can answer your needs.