Have you ever pondered, “Should I lease my office space for an additional source of income?” There are many factors to consider when leasing out office space, like your economic needs and your business’s projected growth. When you lease your business space, that is extra stress off your plate.
How Much Office Space Do You Need?
One great thing about renting your commercial property out when not in use is the versatility renting provides. When figuring out how to lease your business space, you will need to determine the length of the room you will want to rent out to other businesses. This first step is an easy way to narrow down your options. Consider what you are willing to rent out to determine what is most important: a large selection of offices, a kitchen, an expansive parking lot, and similar features. All these components will help you determine what you are okay leasing out to others and how you will market your office space to them.
The type of work you perform in these leased building spaces will also help you determine how much space you will lease out. If you are still determining how much room you should rent, a real estate professional can help you explore your options. Realtors can help you strategize which of your building’s qualities to promote to determine your target audience.
Establish Your Budget
Once you have determined the relative size of a lease business space that fits your criteria, your next step will be to organize a budget. In doing so, you’ll determine the price range of what you can afford to charge your tenants as a landlord.
What costs should you consider to determine how to lease your office site? Consider the charges for moving professional equipment, utilities, internet services, insurance, and maintenance fees as you establish your finances. An idea of what it costs to rent out the area will help you focus on how realistic your rental price should be for your tenants—providing them with affordable leasing while still receiving great revenue from your business space.
Find Office Spaces That Meet Others Needs
Are you interested in leasing a commercial property but need to know if your business is an ideal location? When identifying what makes your lease business space a worthy candidate for another company, consider not only the price of the rental space but the type of clientele you will want to attract. If your location receives high traffic, is accessible to clients, and is a convenient location for employees to reach, you have access to a wide range of potential buyers.
People want to rent a space that has access to locations with public transportation and is well-populated. If your business space is easily accessible to potential customers, ensure you are informing curious viable tenants of your property’s urban hotspot.
Begin the Listing Process with Help From a Real Estate Broker
Now that you have narrowed down the company space you want to rent out, your estimated budget, and your location’s perks, you can begin listing your commercial location to rent. Did you know that buildings are structured into different classifications? Listed by A, B, and C, each office space comes with various amenities, ages, and quality conditions for tenants. If you aren’t sure which format yours is under, a real estate broker can aid you throughout the process.
Are you interested in learning how to lease out office space? Consider hiring an experienced professional real estate broker to help you lease business space in the Lee County area of Florida, like Alec Salameh. Working with a broker who understands and listens to your concerns and needs not only shortens the period of time that it takes for you to find a valuable commercial estate, but they can also negotiate a better lease deal for you.
Commercial real estate brokers have personal knowledge of the area. They are aware of high-quality, affordable properties to rent that may not have been listed yet but will soon be available. Submit an intake form today to inquire about all the benefits and high-quality properties Alec Salameh can help you find as you take your first step into signing a commercial property lease.