Wednesday, October 17, 2007

Office Space 101 (Office Space Realtor)

"What Should I Look For When Looking At Office Space?"

That was the question that Simon P. asked when he wanted to move into a new office space since his home business outgrows his home office.

So referring to an office space realtor, here are some pointers to take home.

“First and foremost, you should decide whether you would want to lease or buy an available office space. Off course there are pros and cons with either option. So the best thing is to fully analyze your business and base on your analysis, make a decision that will give the highest chance for your business sustainability and growth.”

“You must realized that when your business has an actual office address with an actual office space has found and taken, you may have to maintain this level commitment and growth. Why? Because most people understand what is a home office and a home based business, however when you move into into an actual office space, your customers and acquantainces will expect it from you,” says the office space realtor.

“Leasing or renting an office space is a great solution for many small to medium enterprises. The many reasons are, leasing office space allows business owner to operate in a prime location. Usually leasing offices are located in the high 'traffic' or busy parts of town. What this means to you the business owner, this frees up capital for you to use in other areas of the business,” continues the office space realtor.

“However the cons are, leasing office space leaves you open to rent increaments when your lease contract expires. Leasing does not allow you to increase your equity as you would if you were buying.”

Talking about buying office space, the office space realtor points out the advantages as follow:

“Now, if you decided to buy an available office space, the pros are; your monthly costs are fixed since you the business owner is not subjected to yearly rent increaments. Also there is a plus where youcan get extra income from renting out your extra office space. When you own an office space, you are free to sell it, any time and could possibly put that money in a your retirement fund.”

When there are pros, there are also cons in owning an office space, the office space realtor has this to say about it,

“When you buy an office space, you actually have lost some flexibility. What I mean by this is when your business grows and you need more space, it may be difficult to purchase more. Because purchasing office space requires initial capital outlay that may be hard to get.”

In closing, the office space realtor continues, “Before you decide on either leasing or buying an office space, do your due diligence and research your options extensively. This is necessary because the real estate industry is an industry where huge gaps in prices and opportunities can exist. You must find out as much as possible about the area you are interested in, the future plans for the buildings of that area and the expected growth of that part of town.”

This is what was told by Simon P., Tx.