What if your business is ready to expand into space outside of a home office, should you consider short term office space?
The Problem with Traditional Office Space
The length of the agreement can be intimidating for entrepreneurs or business owners looking to expand. With some leases requiring commitments of five years or more, many must forgo acquiring space for their business.
Generally, commercial property owners are interested in leases with established businesses who are willing to commit to a long-term lease. This minimizes the risk that they will be forced to go through the process of finding another tenant fill a now vacant space. Short-term leases are much less common for commercial properties than standard, long-term leases.
Short term office space is attractive from an entrepreneurial standpoint because they minimize the entrepreneur’s risk. With a long-term lease, you are running the risk of paying rent for the space for the agreed upon lease length, regardless of whether their business fails.
Short Term Office Space Alternatives to traditional Space
A furnished office can provide a perfect solution for business owners looking for a short-term commitment. Short tern office space can be found in business centers that cater to entrepreneurs and small businesses.
People searching for short term office space overlook the furnished office space option. They may think that the higher month-to-month rates of a full-service or furnished space are prohibitively expensive. When you consider the hidden costs of finding, leasing, and furnishing a traditional space, the benefits of a furnished office become much more clear.