If you own your own business, you already know there are tons of different costs that are a constant drain on your bottom line. Many people who are considering buying or leasing an office space are unaware of the many hidden office space costs that come along with the space. We will cover some of the different issues that you should consider when moving into an office space:
Furnishing the Space
So, you’ve got a great new spacious office to put yourself and your employees. Unless you happen to be in the office furniture business, furnishing your office space has the potential to be very costly. Desks, chairs, printers, décor, and any other furnishings can add up quickly.
There is often a requirement within commercial leases that you acquire insurance for the space. Lease agreements will usually outline the minimum coverage that the lessee must have. This is to protect both the owner and the lessee from damages and it also protects them should any legal issues arise regarding damages.
Just keeping the lights on and the water running can be a huge office space cost that many people do not properly consider when looking at commercial space. Depending on the size of the office, heating and cooling can be very costly every month. There are additional bills that you will need to consider as well, such as maintenance and cleaning.
It is not uncommon to be required to pay a portion of your building’s property tax as part of your business’s lease agreement. Traditionally, the amount that you would pay would be proportional to the amount of the building that you lease. Many people would not realize that property tax would apply to a leased property, but that can be a substantial hidden office space cost.
If you own a small business and you don’t have the time or money to devote to the hassles of a traditional office space, you may want to consider a furnished office. A furnished office can save you money and valuable time when moving your business into a new space. If you are interested in a furnished office space in some of the most prestigious locations in New York, schedule an office tour with a Rockefeller Group Business Centers representative.