As visions of you sitting in a corner office, in a high rise, in one of Australia’s thriving cities disappear, the reality of a huge monthly payment sits before you while you and the leasing agent discuss other commercial properties for rent. Your business could be a start-up or you could be looking to move closer to the business district or you could be relocating. However, in any one of the above scenarios, you have spent countless hours searching for office space that meets the needs of your business.
In addition to high rents, the places are either too far away from downtown, and when they are acceptable, they are not well-maintained. The buildings you could possibly lease ask you to commit to a lengthy term, one in which you are not sure you can reasonably commit to. However, as progress has transformed the business landscape, the search for suitable office space has all but been eliminated as a result of the many different alternatives.
To learn more about how you lease a great office space when the pickings are slim, continue reading below.
Shared Office Space
One of the best ways to address a difficult search for office space is using shared office space. Many large leasing companies can fit out your office easily with either a virtual office or co-working space. With Servcorp, for example, you can choose from 28 premium office space locations across Australia and New Zealand. Both spaces are shared spaces, which reduce your monthly overhead by leasing the use of space.
The virtual office allows offices that have less than ten employees to essentially work remotely while leasing the use of private offices, conference and meeting rooms and boardrooms, in addition to other amenities. Businesses that employ remote workers benefit from the virtual office because their contract is on a pay-as-you-go basis. Also, attractive to this type of lease is that larger office solutions companies can fit out your meetings from anywhere in the world.
Co-working spaces function similarly, but they are designed for the self-employed and start-ups that need office space but not the excessive overhead. These spaces also allow for ease of movement because you essentially are paying to use office space, not leasing the structure. Like the virtual office, the co-working space offers additional benefits in terms of cost-savings and flexible leasing options.
Work Remotely And Rent-Free
Working remotely is one of the most cost-effective alternatives to the traditional office. However, if you find that there is little available in terms of leasing space, allow your employees to work from home, and when you have to meet, find places that will allow you to reserve space to meet free of cost. Local colleges, libraries and business centres often have meeting rooms that can be placed on reserve by patrons, given enough notice. Many of these rooms, while not as well-furnished as your standard conference or meeting rooms, are outfitted with the latest technology.
Look For Shorter Leases With Flexible Deposits
Traditional leases ask renters to commit to at least a year, which over time can cost you in the thousands. Many serviced office plans allow businesses the flexibility to commit to leases that are as little as a month long and that require smaller deposits. These leases offer businesses an alternative to contracts that can be overly expensive.
Finding Space In The Commercial Real Estate Jungle
Navigating a conventional real estate lease can be difficult, and finding a lease that is appropriate for your business and your budget can be even more of a task. However, among the many options are leasing shared space, reserving space, and finding shorter leases, all viable options. Ultimately, alternative office formats can provide you with the same amenities that conventional leases do, without the financial headaches.