Renting any commercial real estate is not just about finding a place where you can run your business. It is more like one strategic investment in the future. The proper location for the right place on some right terms can make your office space more productive. It helps in improving employee recruitment and proper retention. So, the business will be more attractive to consumers and help you to save money in the end.
However, while aiming for office space for lease Sydney, it is not just the location that seems to come up in your mind. You have to focus on the price and square footage as well. The available space and the terms of the commercial lease will affect business in some complex ways. Some of those are:
- Enabling or obstructing the ability to do much needed build-out or procuring specialised infrastructure like high-speed internet.
- Restricting or facilitating the ability to add some space whenever you are planning to upgrade.
- Saving or imposing unpredictable costs such as maintenance and more to follow.
Whether you are making plans to rent an office, co-working space, warehouse or any form of commercial space, there are some points you need to expect from the commercial leasing process. You must know How to lease a commercial office space in Sydney and get the best space possible. With some simple tricks and tips from experts, the entire process of leasing a commercial space seems to be an easy task. However, make sure to follow the given methods well.
Focusing on the DIY approach:
The first choice when it comes to a commercial journey is whether you need to proceed on your own or plan to get that professional help. Most of the businesses will start off their journey working on their own and believing that they can navigate deals successfully without any broker. This point seems particularly appealing to those companies with a senior member with experience in negotiating commercial lease like the VP of operations. But, this method will have its share of negativity.
Your team won’t have time to fit:
Finding the right space is not easy in any competitive market. There is always intense competition for all the available properties, which means that spots won’t stay open for a very long time. On the other hand, most commercial estate listings won’t do a great job in tracking the spots already filled up. So, you might end up spending a lot of time chasing dead ends.
Once you come across the right spot, there is always a bit of work in negotiating terms of the lease along with planning for the build-out and upgrades and all other kinds of work. There is a high chance that it is not worth the time you have in hand.
Your team fails to have the experience of tenant representative:
The brokers who are representing tenants will have loads of spaces in their hand and will handle multiple Office Spaces For Lease In Sydney. Maximum companies will have less experience internally. So, if you have someone in your staff team who has negotiated around one or two leases, then you can consider yourself lucky.
- Without any experience from your side, you will end up with negative results. It becomes harder to negotiate terms for some things like maintenance costs, build-out and more.
- Moreover, you might end up missing out on some hidden costs in the contract too, which will increase your rent dramatically.
- Brokers, on the other hand, will understand the said industry better. In case you are one large company, they will help you to use leverage in an efficient manner for negotiating favourable terms.
- On the other hand, if you are associated with a start-up venture, then you can avoid the contract pitfalls and evaluate trade-offs between various places. It ensures that you build your office up and move along with time and under budget.
Commercial realtors will surely open up new doors:
As with most of the industries, it will help to have some connections and the same goes with office space for lease Sydney as well. When your selected broker has proper relationships with landlords and some of the other resources in the area, then they can easily expedite the procedure. It will help you to put up on the higher list and increase your chances of procuring the space that you need. Brokers, on the other hand, will help you to spend less time looking for spaces and touring multiple locations.
Renting commercial space using brokerage style:
As has been mentioned already, a broker will make the entire process of renting an office space a lot easier. They ensure that space is of a good match and will help you to negotiate everything from favourable rent to parking spaces. But, an existing relationship with the broken will help you to grow and plan the future spaces or negotiate the renewal terms. But, the field of traditional brokerage will have some downsides as well.
- The traditional brokerage model will focus primarily on large companies and deals that earn brokers lucrative commissions.
- They are not built to handle a higher volume of smaller deals. So, the growing firms or the smaller businesses will get less attention from their side.
- Similarly, there will be one potential for interest conflicts. Brokers are financially incentivised for cultivating exclusive relationships with some property owners. So, they are not likely to act in the best interest of the tenants.
- Moreover, brokers working at the same firm are mostly competing to hit internal goals. So, they are not able to work together to find the best property.
The final say:
In the end, for office space for lease Sydney it has to be mixed work. You need to do your bit of research and also get help from modern brokers. Using these simple steps will actually help you to move with the best office space available within your sector.
