Opening a business can be a wonderful experience. If you find your current space is too cramped or you are moving from a home office to another workspace, the search can be harried if you are not familiar with Australia commercial real estate leasing contract. Furthermore, add in the fact that office space in premium areas can already be expensive, and looking for office space becomes an orchestration.
Workspace is important, and ideally, we would all love to find that perfect space that could give us great views while also providing adequate space. Whether looking for space in one of Australia’s illustrious cities overlooking the bay or a hole-in-the-wall in a trendy section of town, businesses have a lot of choice today. With that choice, businesses have a lot of considerations to make when looking at the various types of office space.
Continue reading to learn more about how to identify the perfect workspace for rent.
Devil’s In The Details
When looking for office space, businesses should pay attention to the types of leases available. Some leases include rent and utilities and others do not include utilities. Leases without utilities tend to be lower, but your monthly budget can fluctuate. Conversely, a lease that includes the utilities might be more expensive, but you only have one bill related to office rent once a month.
Those looking for an office that allows them to rent space without the drama that goes along with typical office leasing should consider a serviced office lease. Through an office space for rent – Servcorp Australia, for example – your business benefits from all-inclusive office space without having to worry about the details that plague conventional leases, i.e. common area issues, subletting, etc. In fact, the serviced office lease gives your business the flexibility that you might not find elsewhere just in terms of length and pricing.
Prospective renters also have to keep in mind the amount of space they need. In Australia, occupancy rules for office space mandate that there is a 10 square metres per person rule. When looking for space, businesses have to calculate occupancy based on the number of people staffing the business, and then they have to take into consideration the square metres minus the amount of furniture they have.
Projected Business Growth
Then, businesses also have to pay attention to how much business they plan to see in the future. For a business that is just starting, business owners will find it difficult to project how much space they might need, but that is why the serviced office might help a new business, as their leases can be easily modified. Having an idea of how much business you might have in the future can give you a chance to find space that will allow your business to grow.
Battling Your Budget
Then, businesses should consider your budget. If you are trying to keep your overhead low, then look at all options that will allow you to save money. Those businesses on a budget should look at alternative leasing options like the virtual office and coworking spaces because they can give your business access to valuable office space without the premium price.
If budget is not an issue, Australia has some very nice buildings in its major cities and small enclaves. Typically, a conventional lease will require a business to save first and last month’s rent, a deposit, and then the first monthly instalment. Furthermore, more often than not to get a real bargain, businesses will have to extend the term of the lease.
Finding Your Space
Today’s businesses are fortunate enough to have benefitted from a commercial real estate atmosphere that is very diverse. Australia’s real estate landscape can fit out your business virtually, or alternatively, provide you with some nice digs in a corner office overlooking anyone of its expansive bays. Finding your space, though, all comes down to knowing your business’s needs.