Executive Office Rental
Freelance professionals and consultants can use executive office rental services to present a more polished persona to their current and prospective clients. Many times throughout the average work week, employees in concrete offices do not actually need the space, electricity, air conditioning and other amenities associated with leasing business space. The lease holder does not have to quite paying on federal holidays when the facility cannot be used. Likewise, through the night hours, weekends and during severe weather the renter has to pay for thousands of square feet of business space that is lying dormant and useless. In times of economic downturn or financial leanness, it makes frugal, monetary sense to only rent or lease office space during the times you are using that space to make money. "For wisdom is a defence, and money is a defence: but the excellency of knowledge is, that wisdom giveth life to them that have it." (Ecclesiastes 7:12) Thus, in times of strict budgeting, paying for a work space while unable to use it to earn income presents more of a liability than an asset to a freelance professional or owner of a sole proprietor-based company.
With the high cost of rent prohibiting many consultants from having actual concrete business locations, many retreated to home offices. This eased the concern of the mounting overhead costs of running a business. However, the drawbacks to home offices quickly became apparent. Entertaining perspective clients in a living room is far from the professional image a freelancer wants to embody. Meetings with multiple clients were almost impossible without a large conference room and teleconferencing capabilities. Furthermore, using a Post Office box is sometimes too impersonal, but listing a home address presents organizational problems and takes away a level of reverence from the clients. As common as self employment is becoming, a freelance professional or consultant still must do everything possible to combat the image clients might have of them watching day time television in their underwear, eating donuts while "on the clock." Virtual office rental is a cost effective way to meet the needs of the professionals working from home offices or those who work predominantly from their vehicles, like sales personnel.
Today, many executive office rental companies have emerged to provide these viable options for doing business. Simply put, virtual office rental consists of a large corporate location, equipped with the amenities necessary for doing business. This large corporation in turn rents out the business space, various amenities and personnel by the hour, day, week or month to allow the professional freelancer or consultant to pay for the space only when it is being used to make them money. In this way, the self employee individual benefits from a lower rent and avoids paying for the space when it is unable to be used. However, the large corporate owner of the executive office rental space benefits from many self employed individuals or small business owners renting the space over the span of a month, when typically those individuals would avoid leasing business space and thus the building would lay dormant for extended periods of time. In this way, the advent of virtual office rental is beneficial to all involved.
A basic plan for executive office rental agreements includes the use of the mailing address. This is especially beneficial as most virtual office rental corporations have buildings in prestigious professional districts and the mailing address reflects the well-known location. Basic plans also cover mailing that mail to your home address or agreed upon location, like a Post Office box. The individual can also make use of the executive quality meeting and conference rooms (dependant on availability). There is also an entire administrative and secretary staff at the renter's disposal to assist him during the hours, days or weeks that he is renting the property. This staff is paid by the rental corporation, not the renter. This allows a consultant to benefit from the organization of an administrative professional without the hassle of health insurance, tax forms and salary allocation.
As the rental rate increases, so do the amenities and services offered. Better executive office rental plans include telephone call answering service during normal business hours and voice mail services over night and throughout the weekends. These plans typically offer call forwarding to a mobile or home phone should the individual not be utilizing the space the day when the phone call comes through. In many more favorable plans, the individual is scheduled for sixteen or more hours of dedicated office space, which means that the renter is promised at least sixteen hours per month in a fully furnished office. The freelance professional or consultant can also opt to rent the lounge space and coffee or food amenities for an additional fee. Should the need arise to use the conference or meeting room outside of the agreed upon time and day, the rooms can also be rented by the hour as well. This is also an option for a work at home professional who is not interested in the dedicated phone line or secretarial staff, but occasionally needs to host a meeting or luncheon. In this way, an individual is allowed to rent a conference room without renting or leasing any other business space. As one would assume, all space available for rent is fully equipped with some sort of high speed internet capability. Most virtual office rental spaces have T1 lines to provide the fasted, most reliable internet connections to the renters.
Office Space For LeaseShould office space rental be a viable option in today's slow economy or is now the time to actually buy office space a good decision given the buyer's market for almost any type of real estate? If a person buys administrative business space, there are some upsides to the decision such as having fixed costs so that budgets can often be projected for several future years, tax deductions for mortgage interest and property taxes, and as the equity grows in the physical building, the owner can later use that equity growth as part of a retirement plan. The down sides of buying administrative workplace property are the lack of flexibility to move quickly to a more advantageous location or to add more space and the large upfront costs that are incurred in buying property, either new construction or existing structures. Such decisions should be weighed carefully before making a future regrettable decision. But what about the advantages of office space for lease?
The advantages of securing workspace area through leasing begin with the idea of being able to conduct business in a prime location perhaps not readily available if the decision were to buy administrative workplace property. If a hair restoration service could secure office space rental next to one of the most prominent plastic surgeons in the area, the location could prove to be a very lucrative one of the restoration business. Or perhaps another example could be the ability of a maid service to secure office space for lease next to a very exclusive real estate company. That combination could also be extremely profitable. There is another huge advantage to renting administrative work space and that is the freeing up of working capital. Money that would otherwise be tied up in remodeling or real estate improvements or property taxes and other property liabilities can be used for advertising, marketing plans, additional staff and other business advantages. Finally, securing office space for lease enables the venture to spend more time on the business and less time on the constant hassle that property management induces. From leaky roofs to cracked windows and faulty plumbing, the owners have much bigger headaches.
Of course the decision to secure office space rental facilities means that there will never be any chance to build equity from real estate ownership. Forever the business under consideration will be helping some other owner pay for his/her building. Making building payments for a nameless corporation or real estate entity can almost be depressing if the reality is dwelt on too long. And then consider that leasing means that from year to year rental costs can go up, often without a ceiling on the amount of lease increase, and budgets can be blown to smithereens without any recourse available. But for the sake of this article, assume that the decision to rent has been made. Workplace rental areas are available all over the United States and hundreds of online property management companies are ready and willing to assist the potential client in finding the right location.
There are some important considerations for the business venture leasing real estate property. For example, the first consideration after price will be the geographic location and the accessibility to that location. Is there public transportation available to that address and are major thoroughfares on or near the address? Will the layout be open styles or partitioned offices, and how many employees will there be at this particular site? Some online office space rental locating services offer an office area calculator to help management know how much square footage should be needed. A traditional workplace layout for ten employees calls for about twenty two hundred square feet of space with no special needs required.
The leader of a company is suggested to have between three and four hundred square feet of office space while a secretary can operate with between seventy and a hundred square feet. And what about windows? Higher level staff members need to have windows in the office, but if a company values morale and efficient administrative workers, perhaps windows are also a must for them, unless staring out them could be a problem! When it comes to the lease's components, considerations should be made to the right to extend the lease, expand the lease and the details of terminating the lease and first right of refusal on adjoining square footage should be included. "Wait on the Lord, be of good courage, and he shall strengthen thine heart: wait, I say, on the Lord." (Psalm 27:14)
But what if a business is just getting started and there are only one or two employees and those workers can actually work out of their homes, but a real need is for that business to have an address in a prestigious location for validity? There is no need at all to secure office space for lease. Then the answer is the virtual office location. Having a "no office" office could never be easier. Think of all the amenities: a business can get a very desirable business address, mail box and mail forwarding, use of a day workspace area on a rental basis, guest reception during normal business hours, conference room use, administrative support as needed and access to business equipment, all for about three hundred dollars a month. Making the decision to secure workplace facilities can be a very important decision for any commerce venture. It is highly important that a potential client use experienced professionals to work through all the details in this decision of securing office space for lease.