How To Find An Office Space For Rent
There are several aspects to consider when looking for an office space in Atlanta for rent. First, make sure the space you want is available. You can also consider other options such as subleasing or co-working spaces. Then, calculate the base rent and make an offer. Lastly, you should be aware of the “Loss Factor,” which is the difference between the Usable Square Footage and the Rentable Square Footage. This factor can be helpful in avoiding overpaying for space that you don’t need.
Calculate base rent
One of the most important clauses in a commercial lease is the base rent provision. It specifies the rent amount for a specific space, including the rent rate and any escalations year over year. The amount also reflects the percentage of the space that is shared by common areas such as corridors, bathrooms, and elevators.
In order to calculate the base rent for your new office, first figure out the total rent for the entire space. Divide this figure by twelve to get the monthly rent. For example, if you rent a space for Rs 40 lakhs per year, you would pay Rs 30,000 per month. This calculation is more useful for smaller businesses as they may not be able to pay the entire amount upfront and need to develop their cash flow.
Make an offer
When you make an offer when renting an office space, you need to know what you’re getting into. Office space leasing usually costs more than just the monthly rent. It also includes utilities, trash pickup, and common area fees. Be sure to ask about these costs and make sure they’re within your budget. Also, make sure to get a written communication outlining your business and selling points. You can then use this to make the deal more personal.
During the negotiation process, it’s essential to be professional. Remember, landlords want to fill their space, just like commercial real estate tenants. Try to negotiate in a manner that doesn’t compromise on your values to get a good deal. A landlord will be more willing to negotiate with you if you’re able to sign a longer lease.
Consider a sublease or coworking space
Subleasing or coworking space is an excellent option for small companies that are on a tight budget. For example, a real estate company might lease office space with a copywriting or graphic design company. Coworking spaces are also becoming a popular choice among Fortune 500 companies. Sublease options can vary in price and term, depending on how much flexibility you need. You can also lease space from a coworking company anywhere in the country.
Coworking spaces have many benefits, including shared conference rooms, kitchens, and printers. Coworking spaces tend to be more affordable and offer a more flexible atmosphere for your company to work in. In addition, these coworking spaces may have professional receptionists and office management. They also may have office equipment, standard office furniture, and even happy hours with guest speakers.
Consider a long-term lease
Long-term leases have many benefits for businesses. They can protect the business owner from frequent rent increases, and they allow the business to build a solid clientele over time. In addition, they save the business owner money because they don’t have to move every few years to a new location. The reason for this is that long-term leases generally have lower rent rates.
A standard term lease has a limited amount of flexibility. If your needs change during your lease, you may have to sublease space. This may be unfeasible, so it’s important to decide if a longer lease will benefit your business. You can also negotiate for a larger space with the landlord. However, be aware of the cost of negotiating for a longer lease term.