How to Save Money while Leasing/Renting an Office Space?

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How to Save Money while Leasing/Renting an Office Space?

Budget is one of the major constraints for most of the business owners when they start looking for office spaces. If not the constraint, at least a thing they consider. Especially for the start-ups, when the business starts showing some growth, the owners think of expanding their business. But they do need to understand that it’s the phase where they have to be very careful, because they are now the start-ups and still have long way to go. As a business owner, you need to think of how and where can you save your money while getting into a new office space. You should never leave a single way that can help you save some money.

Here are a few such ways through which you can save money while getting into an office space.

1. Explore furnished office to its fullest

While you have lots of furnished and unfurnished offices spaces available in the market, unfurnished or bare shell office spaces may attract you because of its low cost, but the fact is that they cost you more than furnished office spaces if you consider the customizations to be made on the space. But in furnished office spaces, you’ll have everything like the infrastructure, work floor, furnishings, and other things set before getting into the space. You’ll just have to step in and start your operations. This saves you a significant amount of money.

2. Consider negotiating and renegotiating

In the present era, where the vacancy level of office spaces is getting increased, you need to understand that it’s the apt time for you to negotiate on the lease or rent as much as possible, because you will be in the winning edge. Always keep in mind that you can always save a fraction of your money over a good negotiation; it’s just that the negotiation must be convincing rather than asking a space for an unfair price. However if you think you can’t negotiate on the rent or lease, you can always ask the landlord for the services that are not included (like the building maintenance and security) for which you’ll have to pay otherwise. This would at least reduce your financial burden to some extent.

3. Minimize the workforce

There are companies that have more number of employees than they actually require. This is just waste of resources and capital; you’ll just have to pay for the resources even when they are not being utilized to the fullest. Before getting into a new office space, it’s advised to do a thorough analysis on the role and need of your staff, and this can be a great opportunity for you to reduce the cost to company significantly. Have a clear picture of the space needed for the number of employees you want to set up, or else you’ll have to pay rent for the space which is not being used.

4. Rent out your resources when they’re not used

This can also be referred to as subletting or subleasing; may it be the extra space or the resources that are left unused. Consider your workstations and the work floor; if you are very sure that you’ll not be working in the weekends, consider renting it out to those who need it for short time. This is definitely a strategy that works out, as there are lots of people who need a temporary space for their operations. This helps you cover your renting cost to some extent; it’s at least better than nothing.

Apart from all these things, yet another easy way to save significant amount of money is seeking the help of an experienced real estate agent who can help you find the best, affordable and fully furnished office spaces. Commercial Office Bangalore is one such firm that can help you find the best office spaces and lower your cost.

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