What if your business is ready to expand into a space outside of a home office, but you don’t feel ready to commit to the standard lease terms of a commercial space? You may want to look into alternatives to traditional office space that offer a short-term lease.
The Problem with Typical Lease Terms
The length of a typical commercial lease can be incredibly intimidating for entrepreneurs who are just starting out, business owners looking to expand into new markets, or anyone else looking for an office space. With some commercial lease spaces requiring commitments of five years or more, many people are driven to forgo moving from their current space or even acquiring an initial space for their small business.
Generally, commercial property owners are interested in lessees with established businesses who are willing to commit to a long-term lease. This minimizes the risk that they will be forced to go through the process of finding another tenant fill a now vacant, unprofitable commercial space. Short-term leases are much less common for commercial properties than standard, long-term leases.
Short-term leases are attractive from an entrepreneurial standpoint because they minimize the entrepreneur’s risk. With a long-term lease, business owners are running the risk of being required to pay rent for the space for the agreed upon lease length, regardless of whether their business fails.
Low-Risk Alternatives to Standard Commercial Space
A furnished office can provide a perfect solution for business owners looking for a short-term lease commitment. Furnished offices are often located in business centers that cater to entrepreneurial ventures, small businesses, sole-proprietorships, and other businesses with a need for flexible office space solutions.
People searching for a short-term lease may overlook the furnished office space option before understanding the actual costs. They may think that the higher month-to-month rates of a full-service or furnished space are prohibitively expensive. When you consider the hidden costs of finding, leasing, and furnishing a traditional space, the benefits of a furnished office become much more clear and many times they can actually be the cheaper option.