If you have made up your mind to grow your office and are interested in trying out office space for lease, then its time to think about a few important things before it gets too late. Moving into a proper office can be a real daunting task and with so many options available it’s unsurprising that many small business owners make the wrong decisions, or delay the move from home entirely. To help you choose the best option for your office for lease, we have done some comparison between the traditional option of renting an office on a commercial lease and the serviced office option.
Duration of Lease
A serviced office is fully furnished and managed by a facility management company, which offers relatively flexible and simple rental contracts, with the added advantage of having all essential facilities in place, such as phone lines, internet connections, meeting rooms, security management, utility management, etc.
On the other hand, a traditional office space involves leasing the office from a commercial landlord, and typically involves a medium to a long-term contract, typically of at least three years. As the tenant, you get full control over the space but are also responsible for its maintenance.
Mostly all landlords prefer longer lease durations as compared to shorter lease durations. But, if you too are interested in a longer lease duration for your new office space, it can always be extended when your short lease is about to expire. But do consider the extra money you will need to churn out after you opt for an extension of your short contract.
Unfortunately, it has been noticed that many of the startup businesses collapse. So, it’s essential that before opting or exiting out from existing lease, you work it out properly. It is also nice to have a decent exit from your current lease, after which you won’t be obliged to stay with it. In such cases, flexible lease terms offered by serviced offices is your best bet.
Cost of the Office Space
Conventionally leased office space usually appears to be the cheapest way to rent a commercial property. But you also need to understand the additional costs associated with maintaining the property.
The cost of a serviced office mostly includes Internet and phone bills, cleaning, heating, lighting, reception services, security and maintenance, redecoration and refurbishment, and for this all-inclusive service you’ll be paying a small premium.
Additionally, in moving into a serviced office, there are little to no start-up costs.
If you are expanding soon and foresee hiring additional staff, you will need to factor this in before signing the lease. This comes back to the duration of the lease. With a serviced office lease you can look at providers who offer flexible spaces or can add more workstations in your area at an additional cost thereby not limiting your business growth.
To get more updated information on various office for lease, do visit SOI website or you can also contact us, as we are the best office space providers in Sydney and Chatswood.