Cutting Office Space Rental Costs

Introduction
Factors that influence the price

Introduction

All too often when searching for office space to rent, the common misconception arises that a serviced office rental charge will incur more expense than taking on a conventional lease.

Time and time again, this scenario is proved wrong by many companies that have taken a serviced office. Although the last known official CIPS report (Chartered Institute of Purchasing and Supply) investigating the comparison between the two types of space was performed back in 2002, figures still suggest that in today's market, the Serviced Office option is still a big cost cutting option for many businesses.

Factors that influence the price

All inclusive features

The first and most important thing to remember is that a serviced office provides a 'plug in and play' concept to a working office so the cost, which is either charged per person/per calendar month or by the office, can include features and facilities such as:

* Rent

* Business rates

* Service charges

* Utility bills including gas

* Water and electricity

* Furniture and fit out

* Cleaning and maintenance of offices and building

* Building insurance

* Phone and ISDN lines

* On-site management and repairs

* Reception and (optional) call answering

* No solicitors Costs

Management Time

* Managing Bills - Discrepancies that may arise

* Managing Utility Companies - along with many more benefits in one easy monthly or quarterly payment.

Choosing an office like this means more time dedicated to your business and less time and hassle spent paying individual bills.

But this ease of payment does not come at the high price that most have come to expect. Other factors to be considered when choosing between serviced and conventional is that conventional offices can be pricey to set up as many extra costs such as utility bills and phone lines are not included in the price, and then there's the extra expense of the initial set up itself.

Kitting out an office to include cat 5 cabling and the infrastructure for meeting rooms and private offices; as well as sorting out separate providers and installations for broadband and phone lines; corresponding directly with the relevant council for business rates; assessing the further costs of maintaining the rooms / building; and fitting the room(s) with furniture can be a costly and all too often over-looked procedure in moving office.

To give you a better idea of the comparison between taking a serviced office or a leasehold agreement, Free Office Finder has compiled an up to date evaluation of both types of space; the results of which you can find below.

Hopefully this will give you a clearer idea of all the costs involved in your office move, helping you to make a more informed decision of which type of space is right for you and your business.

Here you will find the comparison for 2, 5, 10, 15 and 20 person offices in London areas including the City, West-End