Signing leases for long-term office space rentals is expensive. If you have done so, or researched the process, you know this to be true. But signing a lease for short-term office space rentals? There are several advantages to doing so, and we will point those out in this article.
We are Paddock Place Office Suites, serving the Greater Fort Worth Metro area with affordable coworking space (shared office space). Call us at 817-439-3224 for more information.
The cost of long-term office space rentals.
Office space in the Fort Worth Metro area is expensive. Why? There is a limited amount of it available, and there is an increasing demand for it as new businesses start-up or move into the area.
And it will only get more expensive.
Let’s take a hypothetical. Let’s say you rent a 500-square-foot office space, just about the minimum size your company can afford. Let’s say that office space costs $4 per square foot; this leaves you a monthly lease payment of $2000. First and last month’s rent, plus damage deposit, you are looking at $6000 minimum to move in and begin preparing that space for your company.
In today’s business environment, which is moving away from large companies and moving towards more small companies, a $6000 payment is tough. And you are locked into a heavy $2000 each month for an entire year.
Which has led many companies to question whether they really need an office full-time, especially since many of the jobs they hire out can be remote jobs with employees working at home.
The cost of short-term office space rentals.
With short-term office space rentals, as in shared office space, as in Paddock Place Office Suites, you only rent an office for the months you need it. There are no long-term rentals, and rentals start at $550 per month.
It should become immediately obvious why coworking space has become so popular among business owners with limited operating budgets.
Other advantages of short-term office rentals.
And if that were not enough of an incentive, consider that the lease payment on a full-time office lease is only the tip of the iceberg when it comes to expenses. There is signage to consider, there is furnishing the office to consider, there are utilities and WiFi to consider . . . it is not an exaggeration to say that before you even open the doors for business, in that brand-new long-term office lease, you will have spent $10,000.
Or, you could rent shared office space, month-to-month, where utilities are included in the rental price, where there is WiFi included, where there is no signage needed, and where furnishings already exist.
To put it bluntly, if you are a small business owner, or the owner of a start-up, at the very least it makes good business sense to consider coworking space before you sign a log-term lease.
A final word about Paddock Place Office Suites.
Paddock Place Office Suites is locally owned and operated. We are located in the Fort Worth Design District, in the Alliance Area, of North Fort Worth, one of the fastest-growing commercial and industrial areas in all of Tarrant County. Call us today and arrange for a tour.
