7 Signs You Should Sublease Your Office Space
Companies that need flexible lease terms often turn to a subleasing agreement. This simply means your company will lease a part of the office space from the lessor.
It provides many benefits for both companies and can add a lot of value to your business. If any of these seven signs resonate with you, it’s time to start looking into how you could sublease office space.
You Need to Save Money
If you’d enjoy a space that gives you all the amenities without all the expenses, a sublease office space could work well for you. You’ll likely find a place that’s 10% to 50% cheaper than the fair market value on similar spaces. And you would avoid other added expenses that come with carrying a full lease responsibility.
Your Small Company Prefers Flexible Space
Smaller companies often prefer smaller, flexible spaces. It provides an open-office, collaborative environment that works well in creative endeavors. You won’t have an excessive amount of room, but that works perfectly for many small companies.
You’d Benefit from a Turnkey Solution
Don’t want to spend months obsessing over paint colors, picking out furniture and scheduling deliveries? Then you’d love a sublease office space. It often includes certain build-outs and upgrades, and will offer furniture use for free or at a steeply discounted price.
You Would Like Access to Nice Common Areas
Places like reception areas, break rooms, storage closets and conferences rooms can come with a hefty price in traditional leases. But when you sublease office space, it will include these amenities as shared spaces with other tenants.
You Don’t Mind Sharing Equipment
Save more money by sharing basic office equipment like copy and fax machines. Some modern businesses pride themselves in working paperless, but may need to use that equipment from time to time. Instead of an expensive investment, subleased spaces often let you share this equipment with others.
You Like the Idea of First Come, First Serve
If the lessor vacates the premises, you’ll likely receive first option to occupancy. Although you may not want the entire space to yourself, having the option appeals to many businesses. Perhaps you could take over the lease and find another business to sublease from you.
You Could Benefit from Cross-Company Collaboration
Find someone in a complementary business to yours for a sublease engagement. If you work the collaboration wisely, you can gain new business from client referrals, collaborate on projects or simply enjoy the companionship of discussing the industry.
Do you think your business could benefit from a subleased office space?