Leasing the right office is the ultimate goal for every business. With that search for the perfect space in which to set up shop, though, comes numerous financial decisions: from determining how much rent you can afford to saving for office all of the furniture and supplies you’ll need to help your staff be efficient and comfortable in their day-to-day. Before you decide which commercial real estate to lease, consider these three strategies for saving money in the long run.
- Don’t go overboard with your overhead: You may want that 5,000-square-foot office for lease in the heart of your market, but if you’re a small or mid-sized business with few employees and no physical merchandise to house, you’ll want set your sights on a unit that’s more fitting for your company size. Over time, you may require a larger headquarters for your business. For the here and now, though, focus on finding a base for your company that fits the needs of your existing workforce and provides some additional space for potential future hires.
- Select a reputable-but-affordable ISP: No matter what line of work you’re in, the internet is likely an important part of running your business effectively. Before signing on the dotted line for your dream office space, make sure you have access to an internet service provider (ISP) that offers a fast, reliable connection. Look for business reviews online to compare and contrast ISPs, and narrow down your choices to those who offer the best deals and strong customer support that can help you if you encounter any issues. Remember, not all major ISPs offer services in every market, so it’s essential to take stock of what’s available before committing to a space.
- Choose an energy-efficient/LEED-certified space: Commercial buildings with Leadership in Energy and Environmental Design (LEED) certifications offer substantial energy savings for their tenants in a variety of ways. Buildings with low-flow toilets, for instance, generate big savings for property owners and lessees. If you do select an LEED-certified office space to rent, make sure those energy-efficient systems offer enough financial savings in the long run to merit your lease. Crunching the numbers with those who run your business’s finances will help you determine if the long-term savings are enough to offset potentially high rental rates.