• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Stumble Forward

Stumble Forward

Avoid Life's Financial Pitfalls

  • Blog
  • About
  • Contact
  • Resources

What is the True Cost of Renting an Office?

April 23, 2019 by Christopher

Source

When the time comes to secure your first office it’s important to understand the full costs involved. In this post, we break down the charges, fees, and other financial responsibilities you’ll likely encounter when securing your space.

 

Upfront Payments

Renting office space, particularly in a larger city like London or New York, is going to incur upfront costs to your rental agreement. Though it can seem complicated, using an experienced broker can help breakdown what these will be and what they mean.

One thing that you may need to pay is the agent’s fees. This will often be a percentage of the monthly rent. First and last months’ rent is another payment that you will need to make upfront.

 

Recurring Bills

Unless you’re working within one of the many serviced offices in London or other major cities, then you’ll be responsible for paying the bills for space. Each utility should include a fee for starting the service and/or setting it up. Here are a few bills you can expect to have to pay for your space:

  • Internet
  • Electricity
  • Water (bathrooms, kitchen space, etc.)
  • Cleaning Services
  • Waste Services
  • Phone
  • Additional needs based on your business

You could consider any direct cost for future expansion plans in your estimations too and what these might entail.

 

Rental Costs

The typical cost of renting office space will also include the rather obvious rental payments! These are based on a series of different factors, but you should certainly shop around to find what works best for you and your company.

Aspects of the space that go into determining the monthly rent include the following:

  • Location
  • Square Footage
  • Amenities/Facilities included
  • Local Taxes
  • City codes and ordinances

Shopping for rental space is far easier if you know exactly how to determine the underlying cost of the space. That way, you can not only find the right space for your business, but you can negotiate the monthly rates successfully.

 

Knowing Exactly What It Will Really Cost for Your Office Space!

Crunching the monthly numbers for your business’ budget can be made simpler once you understand what is involved; finding the real cost of the space, understanding what bills will be incurred each month, as well as knowing what you will be expected to pay upfront form a good the basis for finding the real cost of your new rental space.

Are you looking to rent an office space?

Related

Filed Under: Business Tips

About Christopher

Chris is a personal finance blogger with Stumble Forward helping people avoid life's financial mistakes and live a higher quality financial life.

Primary Sidebar

Get To Know Me

Hi, my name is Chris! I’m a personal finance and small business nerd.  Check out my blog where I share all of my favorite tips about saving money to running a small business.

As Seen On…

Top Articles

Categories

  • Business Opportunities
  • Business Tips
  • Careers
  • Consumer Advice
  • Credit
  • Credit Cards
  • Debt Managment
  • Education
  • Financial Independence
  • Food & Cooking
  • Health & Fitness
  • How To Guides
  • Identity Theft
  • Industrial
  • Insurance
  • Investing
  • Law
  • Lifestyle
  • Money Managment
  • Mortgages & Loans
  • Online Business
  • Pets
  • Product Reviews
  • Real Estate
  • Saving Money
  • Scams
  • Tech
  • Travel
  • Uncategorized

Footer

Brilliantly

SAFE!

stumbleforward.com

Content & Links

Verified by Sur.ly

2022
  • Blog
  • About
  • Contact
  • Resources

Legal Stuff – Yep We Got That Too

Privacy Policy
Disclaimer for Stumble Forward
FTC Disclosure

Copyright © 2022 · Magazine Pro on Genesis Framework · WordPress · Log in