The decision to buy or to rent office space to run your business from depends on many factors. Here are some:
- Your budget – buying an actual physical office requires a huge financial sacrifice. If your business is a start-up or a small business, that kind of financial sacrifice might be just too much. In that case, a ready to use Denver office space rental may be exactly what you need;
- The services that you need – recent years have seen an incredible diversification of Denver office space. Today, businesses have the option not only to rent or to buy a physical office, but also to rent a place in a shared office or to rent a completely virtual space. Besides the budget, what you should consider when making the decision is the service range that you need – if your operations do not require the physical presence of your teams in a particular location, you can simply rent a virtual space and enjoy the benefits;
- Your plans for the future – office rentals, especially virtual and temporary offices, are available with flexible terms that allow you to terminate your rental agreement quite easily. The decision to buy an office, on the other hand, requires a commitment on the longer term.
Renting an office is a big decision in the life of most companies – if you are in the process of finding the best Denver office space rental, here are some important aspects to consider to figure out whether the space you are looking for is right for you:
- Office type – office space in Denver no longer means only permanently rented physical rooms in a brick-and-mortar building. Today, you can also choose to have a virtual office that will give you a business address in a prime location and access to office services, such as mail forwarding and call answering or you can rent a desk in a shared office space;
- Features you need with a shared office – if a shared office is what you need, pick your place based on the location (ideally, your desk is close to where you live) and the amenities available with the office, such as access to broadband internet, a cafeteria, receptionist services and 24/7 access to your desk;
- Features you need with a permanent office – beside the location and the amenities available in and around the office building, office size, configuration and the furniture in the offices are the most important factors to consider.
In the past, the only option for businesses in need of office space was to rent a permanent office, with a long-term lease contract. Fortunately, this no longer is the case – the office rental market today needs to be able to accommodate the changing space needs of their tenants, so the companies that have offices to rent now offer much more flexible services. Today, you can easily rent office space for a month or even for a week or a day – here are some things that you should know about these convenient office rental options:
- Office types available for short-term rental – the most common example of short-term space is the coworking space. The solution consists of a desk in an office shared with other people and it is the most popular option for start-ups and other small businesses. Meeting rooms, conference rooms and larger offices are also available for weekly or monthly rentals in most facilities;
- How to choose your space – a monthly Denver office space rental comes from many providers, so you can easily pick a location that is easy to access for your team as well as for your clients and visitors. You should also evaluate your options in terms of amenities – prepare a list with the office features you need and make sure you get them.
Office space leasing is a business transaction like any other, which means that there is usually room for negotiation. Some Denver office space rental contracts are not standard documents that are carved in stone, so here are some tips about how to negotiate the terms that work best for you:
- Determine your leverage – your negotiating position depends on the leverage you have. To determine that, try to find out as much as possible about the lease – for example, if the space has been vacant for a long time and there weren’t many companies interested in renting it, you are in a very good position to lower the rent;
- The duration of the lease – landlords are interested in having their spaces occupied all the time, therefore they are more willing to make concessions if you rent the space for longer periods;
- Tenant improvements – if the space you want to rent can do with some improvements, such as a fresh coat of paint on the walls or new flooring, you might be able to lower the rent if you agree to implement those improvements yourself. If this is an option, make sure that the exact details of the improvements are correctly included into the lease contract.
The coronavirus pandemic has forced many companies to figure out new ways to work and one of the most common solutions has been to implement work from home for office staffers. The new configuration has proved to work out great for many companies – many small enterprises and global conglomerates consider work from home so efficient that they are planning to use it even after the pandemic. These new scenarios also have an impact on the palette of available Denver office space rental options – here are some changes that are already noticeable:
- Lower rentals – the drop in the demand for office rentals goes hand in hand with already lowered and continuously lowering rental fees;
- More options available – while before the pandemic, the businesses that were looking for suitable office space had a hard time, nowadays, available office space rentals come in a much wider range, which makes it easier for any businesses to find the perfect match;
- More services included – to be able to find tenants for their office spaces, rental providers have had to diversify the range of the additional services that they offer. This is why most office space rentals today come with flexible lease terms as well as with lots of services available, such as reception desks and conference rooms.
The utility of an office for a business is obvious right from the start, so it must be considered in advance, especially since the search for a suitable Denver office space rental itself can take quite a long time, and the beginnings of entrepreneurship often hide budget pitfalls and lots of expenses.
Knowing the business and real estate objectives are essential steps in finding the right Denver office.
Although it seems easy and relatively quick to start a search for the right office location, it is an activity that requires large resources of time – an aspect that most start-ups underestimate. The advice of a real estate specialist can not only save time, but also contribute to a good initial selection of locations, thus avoiding wasted time with unsuccessful negotiations. Until finding a permanent office space, the team of a start-up can try a virtual office or a shared workspace in a hub, depending on the particularities of each business. Instead, if it is about renting space for your own office, the search should start 4-6 months in advance, this being the average time to find a suitable space.
The negotiation conditions, obtaining the necessary documents, solving the logistics problems, the market conditions, the availability of the locations, are all aspects that must be correlated and that can determine a longer waiting period.
If you have started a business some time ago and now you are starting to see success, you might find it increasingly difficult to do all the work without having a proper office to meet with your team and with your client. Fortunately, having the office that you need, when you need that space, does not mean that you have to shell out large amounts of money each month – here are some great, low-cost Denver office space rental options that also come with additional benefits:
- Shared offices – co-working spaces are today among the best options for start-ups that do not need a permanent office. The facilities that provide shared offices usually offer more than just desks – they also have meeting rooms, receptionist services and many other amenities. Shared office space comes with flexible payment plans as well, allowing you to pay for exactly the time that use the office for;
- Business incubators – these facilities offer the latest office technology and a dynamic environment that allows you and your team to work efficiently for affordable rates. Incubators also organize business conferences and training programs to educate entrepreneurs, so the benefits of moving your business to one of these spaces range further than comfort and efficiency.
If you have heard about the great benefits of shared office spaces, but you are worried that the solution would not provide you suitable space for meeting with clients, don’t be – you will find what you need with your shared office rental. A shared space, with multiple people running their business simultaneously, can be noisy and unsuitable for conducting meetings with clients and business partners, so here are a few things that you should know about the solutions offered by the facilities that provide offices for rent:
- Separate meeting rooms that can be booked in advance – most accommodating Denver office space rental facilities have not only shared offices, but separate meeting rooms, usually several of them and of various sizes, that you can book in advance for very affordable rates;
- Office equipment available to meet your requirements – whatever equipment you need for the meeting with your client, your landlord is likely to be able to cater for your needs. The meeting rooms available in shared office facilities usually come with access to the internet, large screens, phone lines and projectors are also available;
- Other valuable extras – most facilities also offer access to their reception desk, to allow you to impress your clients from the second they enter the building.
Freelancing and telecommuting are becoming two of the most common forms of entrepreneurship these days. Many of these small businesses carry out most of their activities using computers and via the internet, which also means that they don’t need a permanent office in the traditional sense of the word and many of these start-ups don’t even have the financial resources to rent or to buy such office space. The alternative is either a home-office desk – a solution that is uncomfortable and difficult to manage for many small entrepreneurs – or a temporary office space rental. Here are the benefits of the latter:
- Easier time management – oftentimes a temporary Denver office space rental can be accessed round the clock, even during the night, allowing business owners to come and go as they want;
- A distraction-free environment – working from the comfort of your home might sound like a great solution, but most people find it hard to resist the distractions of their homes when they are trying to work. Rented office space provides the professional, distraction-free setting where you can work without having to handle household chores while working or to get distracted by TV shows, pets or friends dropping by;
Flexible payment – many facilities that rent office spaces charge only for the amount of time that you use the office and there are many other great and flexible solutions that make temporary offices affordable
Working from home has many perks, such as skipping commute and not having to wear a suit every day. Plus, lunches at the office are for free and more delicious than the standard offering of catering services. However, there is a downturn: sometime, you have to meet potential clients or business partners.
Here are a few suggested locations that solve your problem:
- Cafes or Bars
If you know a quiet and elegant café where you can sit down at the table and discuss, without music blaring from loudspeakers, then go for it. You can also enjoy a coffee or take a lunch break with your business partner during lengthy negotiations.
- At Home
This only works if your home office has a separate entrance. Leaving aside the security and privacy issues, you don’t want to walk your business partner to the meeting room along a corridor strewn with your toddler’s toys and your wife’s loaded grocery bags.
- In a Rented Meeting Room
Coworking space is gaining popularity. They look like regular office buildings, but the space is rented by the hour or by the day. You can also choose to rent office space when you need to focus on an important project away from the noise and bustle at home. Denver office space rental options offer flexible terms.
If the weather is fine, you can invite your business partner to a small walk in a park. When you need to look over documents, you will certainly find a secluded bench or an open terrace where you can also have coffee or lunch.