Many companies need to control office space rental costs. With numerous other monthly expenses, a high rental rate could become the difference between the success and failure of the business.
You have two main tactics at your disposal that will reduce your rental expenses:
- Look for a smaller amount of space
- Minimize the cost per square foot
Most will jump immediately to the second tactic. But don’t dismiss the first tactic too quickly. Consider it from an efficiency and quality standpoint, and you may find that a smaller space serves your needs perfectly.
Look for Efficiency
Everything in life has limitations. You could search in the best market with high leverage and hire the best representatives. But there comes a point when a landlord can’t offer a better price, regardless of what you do.
And when that happens, it’s time to look for efficiency. Companies frequently rent far more space than needed. Despite downsizing, poor business conditions and tight financial situations, businesses sit in huge offices with tons of unused areas.
Evaluate a space from an ergonomic standpoint. Brainstorm creative ways that you can work with your team in a smaller space. Just reducing your workplace space by 10% can uncover significant savings on your office space rental costs.
Invest in High Quality
Perhaps it’s counter-intuitive to the penny-pinching mindset. But when searching for an office look for spaces in a higher quality building. Companies that couple this with an efficiency approach find that they save money in the upgrade.
Many new, modern spaces build ergonomic principles directly into the layout of the building. You’ll get an advantage because the space was made with you in mind. And even though the building may offer a higher quality standard, you can pay less because you’ll need less.
Use a Tenant Representative
At the end of the day, you may just need the larger space. When that happens, you must rely on sharp negotiation skills to land the office space of your dreams.
If you choose to go this route, enlist the help of a tenant representative. (In fact, you could benefit from one with any route you choose.) A tenant representative has the experience, knowledge and abilities to negotiation the best deal on your behalf.
They can focus their searches and negotiations on getting you the best price per square foot. In fact, you’ll desire this outcome even if you decide to go with a smaller space!
Our world-class tenant representatives make sure you get the best deal available. We’ll work selflessly by your side to help you control office space rental costs. Contact us today and share how we can serve your company.
