Reduce Office Space Costs: Eliminate Inflation
If you are looking for ways to reduce office space costs, you may want to search for a serviced workplace. Many landlords will offer to lock in your rate in exchange for a longer lease commitment. But then you lose flexibility.
A long-term lease may not work for everyone, so consider a serviced workplace. A business may want to reduce office rent by locking in a longer lease if the property is in a great location. Although a long-term lease will ensure that the business can remain in the space, it also locks you in. If you know you will want to stay put for a while, this is a good way to save on rent every month.
If your business has a good history of renting office space, you may be able to negotiate a lower fee before you sign the lease. Hire a broker who knows the local market, if you are entering into a substantial lease. Also, make sure you have options. If you are looking to reduce office space costs, you don’t want to sign a long-term lease at the last minute.
One negotiation strategy to reduce office rent is to ask for a few months of free rent. This allows you to effectively pay a lower price per square foot, while allowing the landlord to tell others that they are leasing at the higher rate per square foot. Negotiating can be tricky for start-ups that need shorter lease terms. If you are equipped with knowledge, you can get the best deal possible.
If you need an office space secured in a short amount of time, the most cost-effective way to launch into new office space is in a short-term workplace. Here, you can gain access to office space without any long-term commitment.
Short-term office space is great for startups that have the potential to grow very quickly. This will reduce office cost and save you money by not forcing you into a space that is larger than you need.
Workspace by Rockefeller Group provides serviced office space in Class A buildings in New York City available even with short-term leases.
Topics: Office Space Basics