Pricing and Costs to Lease Office Space
Lease office space that makes sense for your budget and your businessThe pricing and costs to lease office space can range from hundreds of dollars to many tens of thousands of dollars. Many factors determine the costs of office properties for rent. The prestige of an address and the size of the city in which your business is located, for example, can determine which end of the scale your lease approaches. If your local real estate market is floundering and vacancies are high, you may pay less than someone looking at an office space property listing in a hot market.
Keep in mind that while some things are out of your control when it comes to the costs of office properties for lease, there are many things you can do to keep costs down. Factors such as office size, amenities and lease terms can all affect your leasing costs, which means you can shop around for the best value. When assessing the pricing and costs of lease office space, keep the following in mind:
1. Take advantage of online tools to determine your lease office space needs and budget.
2. Understand how to determine overall long-term as well as short-term office rental space costs;
3. Save money with non-traditional office space leasing agreements.
Use online calculators to estimate your office space leasing costs and needs
Learn how to accurately determine costs relating to office space leasingThe costs of office leases depend on your city, office location, building amenities, address prestige, hidden costs (including building maintenance fees or utilities), insurance, office size, the rate of vacancy in the area and other factors. Overall leasing costs can range from $200 to tens of thousands of dollars per month; the cost of leasing an office space, per square foot, ranged from $24 (Atlanta) to over $100 (New York) as of 2008.
Invest in shared office space for lease to save moneyNon-traditional leasing services allow you to rent shared office space, or serviced office space, in a reputable location at a fraction of the cost of leasing office space on your own. Shared office space leases often include receptionist services, voicemail and use of business equipment.
- To find an office space to rent or lease that's in your budget, create a checklist of items you must have and items you want to have, keeping in mind the uses of your office. If you frequently receive client and customer visits, a centrally-located and professional office is essential. If, however, your office space is mainly a "base of operations" consider getting a space outside of the main business area of your city, which can often save you hundreds of dollars.
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