The Australian commercial real estate has a number of options for any business. In addition to the conventional office setups, advances in not only technology but also in the way we think about maximising space have made it possible for anyone to find affordable office space. However, with so many options available, entrepreneurs might find themselves confounded.
You can try to navigate the tricky commercial real estate landscape alone, or conversely, you can go with anyone of the numerous office space solutions companies, namely office space solutions by Servcorp. In looking for office space, you want a space that will help you keep your monthly overhead low, and for more experienced professionals, you want your space to be attractive to other businesses. Regardless of the stage your business is in, those looking for office space have many factors to consider.
Keep reading for more information regarding those all-important factors to consider when leasing office space.
Location is important to businesses who need foot traffic. For the most part, much of this traffic is going to be in places where people naturally migrate—for example the beach or the city. The only problem is those prime locations are a draw for tourism and other business people in the area, and the closer you are to the business districts, the higher the rents are. If you work in Melbourne, Sydney, Brisbane or some of the other larger cities in Australia, leases in these areas are ridiculously high.
However, those who are on a tight budget can land themselves a nice spot off one of the more prestigious areas by simply leasing alternative office space. The virtual office, co-working, and serviced offices are all affordable office leasing options for business owners who must work in some of the more prestigious areas but would not be able to afford the lease. These options also work especially well for start-ups and the self-employed populations who need to keep their overhead low on a monthly basis.
Amount Of Space Needed
Another consideration relates to the amount of space you need. By knowing the amount of space, you can roughly calculate how much money you would need to reserve for rent. When looking at space, make sure to figure in space for offices, meeting rooms, receptionist area, usable square foot per person, community areas, and restrooms. In Australia, the law requires that businesses operating out of a commercial space calculate 10 square meters per person, so when planning for your must-need areas take this into consideration.
Understanding Basic Commercial Real Estate Terms And Laws
Commercial real estate can be a tricky, especial if you are doing it alone without counsel. Not that you have to split your professional time between working and going to law school, but if you decide on stand-alone office space, you should become familiar with some of the commercial real estate terms and laws. Some of the factors you want to consider are: whether the lease is inclusive (do they include utilities and other amenities) or non-inclusive, information regarding tenant rights, and information regarding what you are liable for as a tenant and what the landlord is responsible for.
Types Of Amenities
A very important consideration when looking at office leases is the type of amenities that come with the lease. Renters have two options today, fortunately. You can find leases that do come with all of the necessary amenities, which might make your monthly bills higher and more consistent. You can also find leases that exclude amenities, and while your rental payment is reduced significantly, your overall monthly expenses will vary depending on use.
Factoring For All Rental Options
Leasing a place in Australia’s business terrain does not have to be an impossible feat. Today’s commercial real estate climate affords businesses with a number of affordable leasing options, which include spots in some of the more premium locations. However, learn about all available options, as an informed renter is a happy one.