Subletting and Sharing Your Business Space

Finding the right match can save you money

It certainly sounds good. Find another entrepreneur to share your space, and you'll cut rent and overhead costs significantly. But there are risks in opening your business space to others, which means you need to research options carefully.

If you already rent office space, check your lease agreement to find out your rights to share or sublet. Then you'll need a three-part strategy:

1. Use low-cost advertising to find potential customers
2. Get advice on documents you'll need to complete the deal
3. Look for other money-saving benefits to share office equipment and supplies

Use free resources

Web sites and electronic bulletin boards often offer free classified ads to list your office space.

Do targeted advertising

Some national Web sites for small business have extensive listings of office space to link prospective renters and landlords.

Get practical tips

Small business sites on the Internet can provide a wealth of tips on negotiating and managing your rental or sublet arrangement.

Find online legal advice

Tired of waiting for an appointment with a lawyer? Online services may help guide you in the sublet process.

Locate specialized assistance

Want to share retail, industrial or warehouse space? You may need additional help to find a tenant and complete your transaction.

• Check your lease agreement to make sure you have the right to sublease your space. You may need to negotiate such terms with your landlord.
• Try to find a new tenant yourself, since a real estate agent will seek commissions based on the size of the rental space.
• Consider hiring a lawyer to help draw up the paperwork for you.
• Check with professional groups to find tenants who may be complementary to your business.
• Try to share support staff, printers, copiers, fax machines and office supplies with your new tenant.

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