8 Simple Ways to Lower Costs when Looking for an Office Space in Singapore
It is very vital to reduce cost when it comes to office space rental, or at least, looking for an office space rental for all companies and businesses. It is proven that real estate costs are one of the top expenditures lists of companies and businesses. Reading through this article, you will learn some of the many techniques that you can use for your companies/businesses perfect for the initial periods of looking for an office space in Singapore. These techniques are proactive techniques that will help you minimized your costs as much as possible.
- During your dialogue regarding lease agreement with your potential office space landlord, do not have second thoughts in amplifying the risks during your negotiations, whether for a new office space lease in any location in Singapore, or renewal and re-negotiation of an old office space you already have in any location in Singapore. One way you can do this is by giving your landlord or potential landlord the impression that your business or company is looking at not just one office space. In fact, you should make it clear that your business or company is open to the idea of expanding the whole business that you are actually open to leasing or renting multiple office spaces. However, you should also be careful in the information you are or will give out to your landlord or potential landlord. Giving the landlord too much information about your office space lease plan is usually needless, and in fact, can be disadvantageous on your end. All you basically need to tell the landlord is that there are possibilities and options you are laying out to them that will suffice for them to profit from.
- Work with a space planner. This as important as finding an actual office space in an actual office building in Singapore. Space planning is crucial for most companies and businesses because getting the right amount of square meters is dependent on your business’ needs. In some cases, even if there are two office spaces of the same size each, you cannot just lax on which to choose. Not all 100 sqm is same with all the other 100 sqm, because there might be varying layouts and different proximities to basic necessity areas like comfort room, pantry, receptions, etc., Having a space planner work with you can help your target office space be tailored to your business needs.
- Allocate sufficient time in searching for an office space and actually moving in. Regardless if your business or company falls under small scale, medium scale of large scale, adequate time for searching, negotiating, deciding and agreeing, and moving out and in are all equally important. Although office space transfer might be a little bit of a hassle for most business and companies, there are other options you can consider to make everything more convenient and easy, there are Serviced Offices in Singapore, and Virtual Offices in Singapore that you may also consider.
- Include construction and build-out costs in your budget. Be meticulous about these mentioned costs because it will factor into the outcome of your office space transfer or start up. These costs are usual in traditional working space. Many office space tenants in Singapore, being a country of continuous growth, run into surprising financial responsibilities, because they commonly forget to consider these costs. Thus, leaving them with not enough time to have these costs bided by a number of suppliers that they choose from. One way to take this away from your burden is to go for serviced offices, which offer complete business needs, or decide to go a virtual office in Singapore. One good thing about these kinds offices in Singapore is that your agreement can vary, and be amended to custom to your business needs, whether in payment terms, spaces, schedules, etc.
- Gather your own team of professionals. Do not just rely on the architect, interior designer, and the likes that are provided by your landlord. It is important that you also have your own sufficient representation when it comes to these things. This is so you are assured that they are working for the best of your interest. This is, after all, your own business- your own company. However, if you are the type who is not all into these things, and does not mind too much as long as there is quality office and services solution provided, you may also opt to get your offices space/s in a serviced office type of office. There are a lot of options, but only a discerning few offers quality-serviced offices in Singapore.
- Devote attention to the particulars of your lease contract’s renewal options and sublease options. If your initial plan is to just rent out or lease out an office space in Singapore for a short period, it is still financially advantageous and a vital factor to ponder on during your decision process. Sublease options should also be considered as this can also open to more profit than just sharing or having the space rented out by other people or companies and businesses, whether you are going for the traditional office spaces in Singapore or, serviced offices in Singapore, or Virtual offices in Singapore.
- Allot a personal room for adjustment into the lease contract. Most offices leases are usually offered for a long-term lease, but varying conditions may change this from time to time. It pays to have your own personal room for adjustment so that whatever happens to your leasing term, it may not cost you that much money, that much effort, that much time, or that much hassle. It is also good to anticipate, or have a safety solution in case the worst scenarios happen, such as natural disasters, building denunciation, interruption of services.
- Consider non-traditional office space Singapore. Non-traditional office spaces are also great considerations for office spaces in Singapore. There are many advantages and benefits you can enjoy with non-traditional offices, although you may not be able to thoroughly take care of the nitty-gritty of the office design, availability of office spaces and rooms. It still pays to have your choices laid out flat in front of you so can compare what will best fit your company needs and requirements. For one, CEO SUITE in downtown central Singapore are one of the few service provides of services offices in Singapore. CEO SUITE provides different services for clients who need serviced offices, instant office, virtual office and professional services for their companies. Whether you need an office space for rent Singapore for at least one person, or a larger office space requirement for 50 employees, CEO SUITE has office space layouts from private managerial suites, open plan layouts and made-to-order arrangements in a combination of suites. Furnished offices can be rented on a daily, weekly, monthly or yearly basis, whatever your requirement demands. You can now make quick and more abrupt responses to market changes with CEO SUITE’s flexible office space commitments.
Mar 23, 2016