What do you do when you are interested in leasing office space but your budget is better suited for leasing, say, a closet in someone else’s office?
Welcome to the world of small business, or home-based business, a real scenario which is playing out all over the U.S. right this very moment.
We have a few suggestions for you, we being RDS Real Estate, serving the Greater Fort Worth Metro area with affordable industrial space and commercial property for rent. Call us at 817-439-3224 for more information.
The cost of leasing office space in today’s world (2024 and beyond)
Any discussion about office space to rent will come with a disclaimer: rental prices differ from city to city and, in many instances, within a given city. Location dictates cost. It is not the only factor but it is, most definitely, a major contributor to rising prices.
Can you find office space for lease for under $1000 per month? In most cities, yes. Having said that, you may not be pleased with the location or the amenities associated with that space. With all that begin said, the rental price is determined by the size of the office, so you need to be very realistic regarding the amount of office space you need. Remember, every square foot above and above your needs, will cost you extra per month.
The second factor regarding leasing office space that you must consider is the secondary costs which include Wi-Fi, utilities, signage, furniture, insurance, and on and on. These may, or may not, be affected by the location; whatever the case may be, it would be tragic to forget to factor these costs in when considering a specific office space.
A real problem: the budget does not match the need.
If you are flush with cash, good for you, and most of this article about leasing office space will be things you are not terribly concerned about. However, if you are a small business owner, a start-up, or a home-based business owner, every penny will count if you have meager savings/investment capital. One-thousand dollars per month, or fifteen hundred, is a sizeable risk when you do not know if your company will survive the first year. Thus, traditional office space may not be for you.
Let’s look at some options you have.
Real life suggestions/solutions.
Let’s take a look at some viable solutions to this dilemma of leasing office space. They may not apply to your situation, but they may also get your mind into creative mode so you can tap into the solution which works for you:
- Coworking spaces
- Shared offices
- Mobile offices
- Identify your space requirements and explore options that meet them
- Pods, modular spaces, shipping containers
Coworking spaces are becoming quite popular among small business owners. If you do not need an office full-time, and it is not important whether you have a physical location for your business, this may well be your best option. The rental price is low, you only rent by the month, when you need it, and usually the overhead expenses are included in the rental price. In addition, you won’t need signage and furniture is already provided.
Sharing an office? This is catching on quickly, two or more businesses renting a larger office and then partitioning it off into separate spaces. Often the businesses can share a receptionist, or, with proper signage, a receptionist is not needed at all.
Mobile office when you want to rent office space? Would it be possible for you to work out of a van or even a nice RV? Buy yourself an internet booster, or hook onto a satellite Wi-Fi internet provider, and your office will be with you wherever you go.
And, finally, pods and shipping containers. The idea of a shipping container office has been around for decades at most construction sites. Shipping containers are also used for “pod” classrooms at many schools. And the newest pods/modular rooms are inexpensive and can be delivered to any location.
Bottom line: you have options. Now, sit down and figure out exactly what you need, exactly what your budget will be, and which of these options might work for you.
A final word about RDS Real Estate.
RDS Real Estate is locally owned and operated, serving the Greater Fort Worth area as well as Tarrant, Parker, and Johnson Counties. Call us today, tell us what you need, and we will match your budget to a suitable solution.