Making the Budget for a New Office

A company’s office space is more than just an area where the employees come to every weekday to work nine to five. An office can give a first impression to your clients. In such a way, they will get an idea of the business you are running. Think of the office space like a form of branding of your company. Due to this, it is important that companies should properly invest into the office space that they are using. However, that does not mean, spending lavishly and getting an expensive office. This can be a pain in the budget. Our point is that you have the proper amount set aside. We can guide you on budgeting so that you don’t spend too much or too little.

virtual office

meeting room

Now inside the office space, your company will be holding its day to day operations and will be a comfortable space for your employees to carry out their duties during the day. However, you may also consider sharing the office space with another company. When you share the office space with another company or business, this is called a shared office space. Making use of a share office space will allow you to save a lot of money in rent and cost of utilities like light and water since you will be splitting the cost with the other company.

If you do decide to make use of a shared office space, I would recommend that you share the office with a company that is able to compliment your company. Think of it like a builder company sharing the office with an architect firm. When you are agreeing to share the office space, make sure that the agreement between both companies will be properly documented.

Let’s move on to the payment of rent and the leasing. Are they secure? Take note there are some nightmare situations where in the landlord of the company will suddenly jack up the rent or even worse, he will be leasing the office space to another company or renter once your lease has ender even if you want to renew it. When talking with a landlord about renting his space, make sure that you negotiate things properly and talk about options of renewing your lease once it has ended.

Once the office space lease has ended, be prepared to talk about the rate of rent. Here you will talk about how much the rent will go up after those years. I would recommend that during your negotiations with the landlord, you can talk about the rent and making sure that the rent won’t increase by much when you are planning to renew it. An increase of five percent in the rent is plenty but you can make it so that it won’t exceed that rate. You should understand that rent these days are always getting bigger so at least you will have a little control over its increase.

Make sure that you take note of these when you are budgeting and looking for an office space so you won’t have a hard time with money.