It is an interesting phenomenon we see from many who are leasing office space: they look at the montly lease price, compare it against their operational budget, and completely disregard the secondary expenses associated with that office space for lease.
Today we will rectify that situation and give you something more to think about. We are RDS Real Estate of Fort Worth, and we lead the way in Tarrant County with quality commercial property for rent as well as industrial properties for lease. Call us at 817-439-3224 for more information about properties in the Fort Worth area, and ask us, in particular, about the Fort Worth Design District.
Now, let’s talk about leasing office space secondary expenses.
Utilities
It’s a bit surprising, even to us, and we’ve seen this many times, but very intelligent business people fail to factor into their expense sheet the cost of utilities, even though we all pay them no matter where we run our business. Electricity, water, sewer, garbage . . . toss in WiFi and cable . . . these things add up, oftentimes into the hundreds of dollars.
Insurance
New location means adjusted insurance premiums. Your insurance agent should be one of the first phone calls you make when considering new office space to rent.
Furnishing
You can’t have an empty office. Whether you rent office furniture, or buy new furniture, you will need furnishings, and for those who think they will simply transfer the furnishings from their old office to their new office, we guarantee there will be furnishings unique to the new office which you did not need for the old office. It happens every single time.
Signage when leasing office space
You’ll need a new sign out front of your office space when you rent office space. It may be a one-time expense, but it has to be considered.
Advertising the new location
One of the most important things to do when changing locations, for any business, is to notify existing customers, and future customers, of the new location. A marketing campaign to do so will cost you, but it is crucial so you don’t lose business because of the move.
Legal and accounting fees
Make sure all of your T’s are crossed and your I’s are dotted after the move. There are legal forms which need to be updated, and it’s always a good idea to let your accountant know when there are changes.
Cleaning fees
Cleaning fees may not change because of the move, but they will exist, so make sure you consider them when totaling your secondary expenses.
Moving fees when leasing office space
Most people pay to move their offices, but rarely do they factor in the cost of the move when looking at moving expenses. Strange but true! Even if you do this yourself, there will be the cost of a moving van or truck to consider.
This is an incomplete but helpful starting point when calculating your secondary expenses with regards to leasing office space.
A word about RDS Real Estate
We are locally owned and operated, leading the way in the Fort Worth area with commercial and industrial properties for lease for all manner of businesses. Call us to arrange for a tour of our properties the next time you are looking for a new home for your business.