The concept of shared office space for businesses is an alternative to the sometimes more costly investment of taking on a lease agreement for exclusive office space. By sharing space you will share not only the space, but the rental expenses as well. However, such an arrangement provides more than just the obvious cost advantages. The tenant you share space with may help your business’s exposure, especially if both you and they offer complementary types of services.
Choose Your Office Tenant Wisely
Whom you choose to share your space with is important. You don’t want to just share with any type of business. As well, it wouldn’t be desirable to share space with a direct competitor, such as another real estate broker, or another orthopedic doctor. However, if you provide health related products and/or services, sharing space with a company that offers physical therapy or chiropractic care services may be a good match. Certain clients of either business may cross over at some point and utilize the services of the other.
Pricing
When deciding upon a tenant, all the finances must be agreed upon in advance. Specifically, both parties should have assurance that the other business’s portion of the rent will be paid on time each month. Before agreeing to a lease, all of the terms should be laid out plainly for your shared office space. New York companies desiring to share the space should make sure that the pricing is agreed to and reasonable compared to other similar venues.
Agreeable Location
When you are the single tenant, you only have to rely on the needs of your own business when making decision about location. However, in a shared arrangement, both tenants must agree on the location. That’s why it’s important to have a tenant whose business benefits from the same type of location as yours.
Compatible Hours of Operation
An arrangement where tenants operate during the same or nearly the same schedule can also be beneficial. By having office hours in common, both companies can benefit from cross-exposure to the other business.
Adequate Space
Space within an office is one of the most important features to ensure efficiency and comfort among employees. Both tenants in a shared arrangement need to satisfied with the amount of space available to perform their duties. The goal for all tenants should be to have just the right amount of space in which to work and nothing excessive that simply wastes space and therefore money.
Are you searching for the perfect shared office space arrangement in Manhattan? Look no further than Bevmax Office Centers.
