Benefits Of Relocation vs. Renovating Your Office Space

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tenant-representation-servicesThere are times in the business world when business owners who lease office space need to either move to a new office location or renovate their current one. This can be caused by having additional employees come in or simply wanting to rearrange the current setup of the office space. When this situation arises, the question then becomes, “Should we move or renovate?” Although the decision is based on the individual circumstances of the business owner and their company, it is often a better idea to relocate rather than renovate. Here’s why:

Renovations Can Be Distracting

When an office space is undergoing renovations, while the business is continuing daily operations, the end result is a distracting situation for the business owner and employees. When you move to a new location, your company can keep operating at the first location until the move-in date arrives and then relocate when the new office space is ready. It’s hard to complete one’s work on a daily basis with construction noise going on in close quarters.

It’s Often More Cost-Efficient to Relocate

You’ll also find that relocating can be more cost-efficient than renovating. Although it may seem as if the costs aren’t too different in the beginning, as the work progresses, you’ll often be hit with new and higher-than-expected bills along the way as construction costs need to be added on from time to time. When you relocate, the cost will be straightforward and you’ll know exactly what you are getting in the way of office space.

Relocation Can Be Accomplished More Quickly

It’s also important to note that renovation can be a timely venture. When an office space is renovated, this is not a one or two-day occurrence. Renovations, depending on the extent of such, can take weeks or months to accomplish. With a relocation, you can often do this in a few days and get back to business in no time at all.

Renovation Restrictions By Building Owner Often Apply

Since you are leasing the office space and not a commercial building owner, you will have to get permission to renovate the current office space. There will also likely be restrictions in place as to what you can do with regard to renovations and you will have to abide by these restrictions according to the building owner’s wishes. With a relocation, you will be moving into the office space usually as-is, and if you do plan on changing anything within the new office space, you’ll know what you’re able to do in the very beginning, based on the language of the lease.

The decision between relocation and renovation should be a carefully-considered one, as you want to be sure to have the best possible office space and not have to deal with extra costs or timely, distracting renovations. You want your daily business operations to continue as usual, so weigh all of the factors before deciding whether it is in your best interest, and the best interest of the company, to stay at the current location and renovate or move to a new spot with a new lease.

3 Great Benefits of Shared Office Space

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Renting a shared office space is a great option for those who need a consistent place to work. The space is usually fully furnished and equipped for various business needs. They may even provide phone and email services as well. There are many great benefits of renting a shared office space for your business requirements.

1. Money Savings

Renting a shared office space is a great way to save money. These spaces are often much less expensive than renting a traditional office space. This is because when you rent a traditional space, you are required to pay for all additional needs and equipment such as lighting, Internet, custodial services, and even hiring a receptionist. With a shared office space, these items are included in the cost already.

2. Networking Capabilities

Another great added benefit of a shared office space is the great networking capabilities it provides. By sharing an office space, you are provided with instant access to other businesses. This makes it much easier to network and gives you great ideas that you may not have had otherwise. This can provide you with ways to expand your business.

3. Meeting Space

A shared office space usually comes with a dedicated meeting space. Sometimes it can be hard to meet with clients in places such as coffee shops or other public spaces. It may even seem unprofessional. With a shared office space automatically included, this takes the guess work out of where to meet clients and gives your business an edge up over others without these facilities.

A shared office space is a great option for a business that is just getting started. It provides you with automatic amenities so that you can focus on your business instead of worrying about the essentials. It also provides you with great networking opportunities to help expand and promote your business. You can find shared office space in Chicago for your business needs.

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How to Find the Perfect Chicago Office Space

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Finding the perfect office space can seem like a daunting task. This is especially true for those who are unsure of the move or who don’t know where to start. Therefore, you should take a moment and decide what properties are important to you in a new office space. There are various aspects that should be considered when you are searching for the perfect Chicago office space.Chicago Office Space

Consult a Real Estate Agent

You may be tempted to research properties alone. However, when looking for a new office space you should consider consulting a real estate agent. It can be hard and time consuming to find an inexpensive space that fits all of your business needs. An agent will be able to take on the burden of finding a space to fit your specific needs while you concentrate on your business and preparing for the eventual move. These professionals have plenty of experience and know exactly how and where to look in order to get you in your new space as soon as possible.

Consider the Location

It can be hard to find the perfect office space at the right price. However, one thing that is very important when searching for the perfect space is the location. You want to choose a location that is easy to get to for your client’s convenience. You also want to be in a safe and secure area. Another thing to consider is if there are amenities such as restaurants or coffee bars nearby for both clients and employees.

Determine the Perfect Size

When choosing a new office space, you may be tempted to select a very large office. However, you should consider the size of your business before decided on the size of the office and how soon you may need more space. If you only have a few employees, you should choose a smaller location. Still, you also don’t want to choose a too small space that will make employees and clients feel cramped, especially as you grow. You need to find the middle ground.

When choosing a new office space, you should first decide which properties are the most important for your business. Once you do so, you should contact a real estate professional who can assist you with finding the perfect office space for your needs.

Make the Most of Your Office Space With Our Office Space Planning Checklist

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office-space-ChicagoEfficient and effective office space planning is crucial to making the most of your commercial real estate. The design and layout of your office space has a direct effect on the productivity and happiness of your employees, who spend a large chunk of their time in your office.

That’s why you should make planning the layout of your commercial real estate space a priority. Here are some of the most important things you should take into account when planning the layout and design of your commercial real estate in Chicago:

  • As an employer, you have a responsibility to look after the health and safety of your employees. Let our office planning professionals help you plan an office that minimizes occupational hazards. Effective office planning can reduce the risk of accidents and create a safer work space.
  • Staff productivity. You’ll be surprised at how office design can influence the productivity of your staff. A dark, poorly-designed, and dreary office atmosphere can hurt employee morale and lower productivity. No one wants to come to work in a dingy and depressing office. A cheerful, comfortable office environment makes employees want to work.
  • Regulatory compliance. Your office plan needs to take multiple regulatory compliance issues into account. The layout of your office should comply with fire codes, for example, and meet the needs of employees and clients with disabilities. Tenant representation services like ours can help you meet regulatory compliance requirements.
  • When you fail to put appropriate consideration into the layout of your office, communication between staff members suffers. A well-executed office plan puts staff members who work together closely in physical proximity, to make communication easier and boost employee productivity and morale.
  • You might be throwing money away on extra office space that your company doesn’t even need. Efficient office space planning can help you optimize your use of the space you have, so you can avoid making a costly move to a larger space.

Countless businesses struggle due to failures in office space planning. Don’t let yours be one of them. Get professional help from Tenant Advisors in planning the best use of your office space today.

Etiquette for International Business

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There are some customs that seem natural to us in the United States. However, when doing business with partners from all over the world, it can be possible to overlook the cultural differences. Consider a few of these helpful international business etiquette tips for your next international client.

  • Time – Being punctual to corporate meetings can have a different impact in certain areas of the world. For example, in Australia, New Zealand and the UK, it is critical to arrive on time or early for all appointments. Arriving late can give the impression of superiority or disrespect in these cultures.
  • Joking – Kidding, joking or adding humor into business transactions can be taken as disrespectful in some cultures. For example, in Germany and France, it can be misconstrued as arrogance when joking or adding humor into a serious business transaction.
  • Gifting – A custom in some countries, such as Japan, China and India, is gifting to your new clients or business associate. It can be rude to not present the other business with a wrapped gift to express a token of appreciation for their time. Not presenting a gift could instantly ruin your chances for further business deals.

When deciding to participate in international business ventures consider these customs when traveling or working abroad. Looking for office space planning near the Chicago area? Check out TenantAdvisors.com for local listings, today!