5 Tips for Finding Cheap Space in London’s Office Market
The high demand for commercial property has made it stressful for start-ups and small businesses to get cheap office space for their operations. Finding cheap office space is tough, though, because demand is considerably high. The search is often filled with numerous disappointments, especially for persons who don’t know how to do it. The following is a look at 5 ways to find office space on a shoestring budget.
One of the hassle free ways to get cheap office space is to consult a real estate agent or broker. This is due to the extensive network of like minded professionals that he or she will use to help in the search. Working with a property expert is also beneficial since you will get an office that includes all other desirable features within no time. A visit to the homepage of real estate agents is advisable because you can type in your price range during the selection, and get thousands of results to match what you seek.
Finding an officemate is one of the most effective ways to getting a cheap office for your small business or start-up. You may also not need to purchase new office furniture in this type of an arrangement since some of the extra chairs and desks that your so-tenant owns could be rented out to you. Your networking opportunities will also be enhanced significantly if you get an officemate, which will be invaluable for your business.
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Negotiate for a reduction of rental or lease rates with your prospective landlord since savings that can be achieved here are significant, given the fact that you need to operate in the office for a significant number of years. Many tenants don’t know that they can negotiate rental rates. They end up paying more that they should, which is detrimental to their profitability and long term going concern positions. You can be significantly assisted if you seek expert help from real estate agents or brokers because they are astute negotiators.
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Consider the impact of your office location on your most critical business activities. Take note that prime location does not come cheap in any town or city. If possible, exclude some of the unnecessary perks that accompany modern offices. An example is selecting an office that is not located close to the center of the city where rates are known to be very high. It may also be necessary to select a location that features moderate to poor transport services and other critical amenities.
You can barter your goods or services in exchange for office space. This is perfect for small businesses because they can meet their rental expenses when sales figures are not so good. A growing number of lawyers, doctor’s clinics and accounting firms have found this to be beneficial for their operations.