Short Term Office Space: Is It For You?

2007-03-08 10:33:40

( Real Estate )



An office space is essential for any business. It is the center of professional affairs that will spell "make" or "break" for the company. There are many considerations to getting an office space: costs, location, benefits. Through all this, there is one thing that must be taken into careful consideration--the length of the lease contract.

Choose from the two
Basically, you may lease a long term or a short term office space. There are many considerations in choosing between these two, and whichever you choose you will know that there are consequences, good and bad, to your choice.

Long term office space
When leasing a long term office space, you will have to shell out more initial capital, but you may also save in the long run as many lessors can give discounts for long term leasing. You will also not think twice about remodelling or re-designing the office space as you know that you will be able to use it for a long time, hoping that the initial capital will be earned back during the period. Business is also easier as the identity of the company will be easier to establish, and customers will feel comfortable through time.

Short term office space
When the business is a little on the micro side, a short term office space may be preffered. The initial capital outlay with a short term office space is smaller. However, you may think twice about remodelling or re-designing as a short term office space does not guarantee a renewal of the leasing contract. Thus, capital spent on remodelling may be wasted. Also, there is a negative impact on the company's image if it is always transferring from one short term office space to another.

Serviced office space
A short term office space is often a serviced office space. Help is hired from building servicemen and paid after every assignment. This project-based payment also requires smaller capital than employing.

Whether choosing a long term or a short term office space, it is very important to study the organization and your vision for it. In the end, the choice is still what is right for you.


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