Monday, 31 July 2017

Subleasing You Office Space? Here’s What You Need to Know

http://www.commercialofficebangalore.com/blog/subleasing-your-office-space-here%E2%80%99s-what-you-need-know

Subleasing Your Office Space? Here’s What You Need to Know

Subleasing or subletting is nothing but leasing the part or whole of the property by you as a tenant to a sub-tenant!
But why would one want to sublease the office space?
Well, there are many reasons why a business owner thinks of subletting his/her office space to other businesses. Here are a few.
1. Outgrowth: When the number of employees outgrows the office space, they can’t just cut down the employees just because there’s no enough space to accommodate them. They can’t break the lease term either and move into a larger office space. So what can they do in such a case? Simple, sublease! They can simply sublet their space to any other business and move in to a large office space that can accommodate all their employees.
2. Relocation: The Company may want to relocate to a different place to avail the tax benefits or to be closer to the customers or business partners, and if the lease term is still in force, the company might think of subletting the space.
3. Downsize: Third and most common reason for businesses to think of subleasing is the downsized company. The company will have to lay off a few employees because of the poor economic conditions. This leaves a few empty places at the office which makes them think of subleasing.
So, if at all you’ve made your mind to sublease your office space, here’s what you need to know.
Determine if you’re allowed to sublet
First thing you need to make sure as and when you decide to sublease the office space is to determine if you’re allowed to do so. All the lease terms will have a separate clause for sublease if you are allowed to let your leased property to a sub tenant.
However, few specific lease clauses may restrict you for a particular space (up to certain sq. ft.) to be subleased, going beyond which the landlord will have complete rights to recapture the unused space (Right of recapture) and lease it out directly. So, you need to check with landlord about their intention to recapture before subleasing your space.
Decide on the rent to charge
You might have been thinking to charge the same rent as you’re paying to the space, but you need to understand the fact that you can’t expect the same rents as the subtenants bargain a lot. However, in some cases where the office space is at a premium and you’re in a position to charge more than what you are paying, you need to be aware that you may have to share the rent with your landlord.
Check the lease terms to see if there’s any clause that says you’ll have to split the rent if you exceed the amount of what you’re paying as rent to that space. You also have to see the percentage of rent you need to share with the landlord.
Finalize the arrangement of space
While subleasing your office space to some other business, you’ll have to make some changes accordingly to suit the space to accommodate a subtenant. This clearly depends on the amount of space you are planning to sublease.
For instance, if you are planning to rent out a part of your office space, you may have to put a barrier to give subtenants the access to hallway. And, if you want to sublet the whole office space, you need to think of altering the space according to the needs and necessities of the subtenants. But you’ll have to take permission from the landlord to make any changes on the space.
However, it’s always good to work with an experienced commercial real estate agent while subleasing instead of doing it all alone as they know all the sublease terms and clauses well.
Commercial Office Bangalore is one such property management firm that can help you with all your commercial real estate requirements. Just get in touch with us if you’re planning to sublease a part of your office space and let us know the area you want to rent out. We’ll take care of the rest and help you find a potential tenant for your office space.

Wednesday, 26 July 2017

5 Mistakes to Avoid When You Are in Search of Office Space


http://www.commercialofficebangalore.com/blog/5-mistakes-avoid-when-you-are-search-office-space

It is human tendency and we are all bound to make mistakes. But simple mistakes in a business can cost you a lot that sometimes you’ll not be able to recover from the loss. Finding the right office space is a crucial time where the business owner has to make the move carefully to avoid costly mistakes.

Here we’ve discussed 5 common mistakes business owners do while searching for office space, avoiding which can put them in an ideal office space that exactly suits their business.
1. Exploring less
One of the best ways to find a suitable office space for your business is to explore more. Most common mistake the entrepreneurs do is that they stick to a specific type of space and forget considering other spaces available in the vast market. This can often make you pay more than the amount the space is worth for.
More you explore more spaces you can find, and more will be the shortlists. You’ll have that leverage to negotiate well on the deal as you’ll have an idea about the market; so definitely you’ll be in a better position when it comes to negotiation (both on terms and price).
2. Miscalculation
Miscalculating the company growth is one of the main reasons that most of the companies these days are wasting their office space, or cramping their employees in a congested space.
How does it happen?
It’s quite obvious that when you are looking for a new office space, you’ll certainly have to consider your company growth as you may have to add few more employees to the company in future.
Calculating it without a proper base leads to such mishaps where you end up in a larger office space than you actually need. It’s simply waste of space, and you’ll have to think of subleasing it.
Always bear in mind that the ideal space for an employee at the workplace is 100 sq. ft. You have to correctly calculate the space needed for your employees considering the company growth.
3. Misunderstanding the cost
What you see is not what you pay!
Yes, office space excites business owners so much that they don’t bother to correctly understand the costs associated with the space. They just look at the rent and think that’s all they have to pay, but that’s not the case.
When you are moving into a new office space, you must also consider the extra costs like utilities, amenities, maintenance costs including which the total cost looks different. You have to be extra careful when you are renting the space in an old building, as these extra costs build up fast in older buildings.
4. Overestimating your capabilities
Leasing or renting an office space is lot more than just picking a space and setting up your business there. You’ll have to think about the designers, brokers, office planners who can help you with their prospects and settle you up in the best place.
You can’t do everything on your own. As you think, office space designing is not just picking the things that look cool; it’s something more that needs proper understanding. Also the real estate agents; they know the market better than you and they’ll help you find an ideal office space.
Decide your capabilities realistically, so that the chances of you getting into the right office space will be more.
5. Inflexibility
Instead of being stubborn with the location by just going with the impression of others, it’s always good to define the traits you want to have in your office space. Every business owner office space expects the office space to be close to transit, in a popular area, good for parking, and that’s common.
You can definitely make your decision by considering all these factors, but being stubborn with a single location makes you miss the chance of getting into a better office space in other locations.

Friday, 21 July 2017

How to Save Money while Leasing/Renting an Office Space?

How to Save Money while Leasing/Renting an Office Space? http://www.commercialofficebangalore.com/blog/how-save-money-while-leasingrenting-office-space How to Save Money while Leasing/Renting an Office Space? Budget is one of the major constraints for most of the business owners when they start looking for office spaces. If not the constraint, at least a thing they consider. Especially for the start-ups, when the business starts showing some growth, the owners think of expanding their business. But they do need to understand that it’s the phase where they have to be very careful, because they are now the start-ups and still have long way to go. As a business owner, you need to think of how and where can you save your money while getting into a new office space. You should never leave a single way that can help you save some money. Here are a few such ways through which you can save money while getting into an office space. 1. Explore furnished office to its fullest While you have lots of furnished and unfurnished offices spaces available in the market, unfurnished or bare shell office spaces may attract you because of its low cost, but the fact is that they cost you more than furnished office spaces if you consider the customizations to be made on the space. But in furnished office spaces, you’ll have everything like the infrastructure, work floor, furnishings, and other things set before getting into the space. You’ll just have to step in and start your operations. This saves you a significant amount of money. 2. Consider negotiating and renegotiating In the present era, where the vacancy level of office spaces is getting increased, you need to understand that it’s the apt time for you to negotiate on the lease or rent as much as possible, because you will be in the winning edge. Always keep in mind that you can always save a fraction of your money over a good negotiation; it’s just that the negotiation must be convincing rather than asking a space for an unfair price. However if you think you can’t negotiate on the rent or lease, you can always ask the landlord for the services that are not included (like the building maintenance and security) for which you’ll have to pay otherwise. This would at least reduce your financial burden to some extent. 3. Minimize the workforce There are companies that have more number of employees than they actually require. This is just waste of resources and capital; you’ll just have to pay for the resources even when they are not being utilized to the fullest. Before getting into a new office space, it’s advised to do a thorough analysis on the role and need of your staff, and this can be a great opportunity for you to reduce the cost to company significantly. Have a clear picture of the space needed for the number of employees you want to set up, or else you’ll have to pay rent for the space which is not being used. 4. Rent out your resources when they’re not used This can also be referred to as subletting or subleasing; may it be the extra space or the resources that are left unused. Consider your workstations and the work floor; if you are very sure that you’ll not be working in the weekends, consider renting it out to those who need it for short time. This is definitely a strategy that works out, as there are lots of people who need a temporary space for their operations. This helps you cover your renting cost to some extent; it’s at least better than nothing. Apart from all these things, yet another easy way to save significant amount of money is seeking the help of an experienced real estate agent who can help you find the best, affordable and fully furnished office spaces. Commercial Office Bangalore is one such firm that can help you find the best office spaces and lower your cost.

Wednesday, 21 June 2017

Buying Space vs. Leasing: Which is better for your Business?

http://www.commercialofficebangalore.com/blog/buying-space-vs-leasing-which-better-your-business


It’s a tough decision to make between buying and leasing an office space especially when you are new to business. When your business is growing, you won’t be able to take it forward with just a home office; all that you need is an ideal workspace to carry out your operations. Once you decide to get into an office space, the first question that arises is “whether to buy an office space or to lease?” It’s definitely a question to be thought of.
Your decision must be based on a few key considerations that are thought with respect to your business type. You can also consider taking professional advice in order to understand the legal and financial obligations. Along with these, you will have to consider the factors that would influence the cost to your business. Here are a few points that shed light on the things you need to consider while deciding between leasing and buying an office space.
  1. First thing is that, seeing whether the space is in right location for your business. This lets you decide if you can stick on to the space permanently by buying it!
  2. If it partially meets your requirements based on location, you can consider leasing it for some period of time, and change the location if it’s not working.
  3. If yours is a retail business, check if your distributors and suppliers are nearby; this can save huge delivery costs to the company.
  4. Some businesses do rely on the passing trade, if yours is one of them, you will have to consider choosing a vibrant retail hub.
- See more at: http://www.commercialofficebangalore.com/blog/buying-space-vs-leasing-which-better-your-business#sthash.xSz82SBE.dpuf

Thursday, 8 June 2017

Subleasing Your Office Space? Here’s What You Need to Know

Subleasing Your #Office  #Space? Here’s What You Need to Know#bangalore

http://www.commercialofficebangalore.com/blog/subleasing-your-office-space-here%E2%80%99s-what-you-need-know


Subleasing or subletting is nothing but leasing the part or whole of the property by you as a tenant to a sub-tenant!
But why would one want to sublease the office space?
Well, there are many reasons why a business owner thinks of subletting his/her office space to other businesses. Here are a few.

1. Outgrowth: When the number of employees outgrows the office space, they can’t just cut down the employees just because there’s no enough space to accommodate them. They can’t break the lease term either and move into a larger office space. So what can they do in such a case? Simple, sublease! They can simply sublet their space to any other business and move in to a large office space that can accommodate all their employees.
2. Relocation: The Company may want to relocate to a different place to avail the tax benefits or to be closer to the customers or business partners, and if the lease term is still in force, the company might think of subletting the space.
3. Downsize: Third and most common reason for businesses to think of subleasing is the downsized company. The company will have to lay off a few employees because of the poor economic conditions. This leaves a few empty places at the office which makes them think of subleasing.
So, if at all you’ve made your mind to sublease your office space, here’s what you need to know.
Determine if you’re allowed to sublet
First thing you need to make sure as and when you decide to sublease the office space is to determine if you’re allowed to do so. All the lease terms will have a separate clause for sublease if you are allowed to let your leased property to a sub tenant.

Friday, 26 May 2017

Top 5 Locations to Set Up an Office Space in Bangalore


Bangalore is known as the IT hub of India. People even don’t hesitate to call it Silicon Valley of India. This city is not only famous for its IT companies but for its startups in different niches. Bangalore is a heaven for entrepreneurs and has equal scope for both startups and established businesses looking for expansions.
Bangalore is a truly cosmopolitan city and people here are filled with entrepreneurial spirit. Real Estate prices in Bangalore are more competitive than Mumbai and NCR. So Bangalore can be one of the most favorable cities in India to set up offices for your business.

Why location matters for a Business?

Either you are looking for an office space for your startup or office relocation for your established business, the first question comes in your mind is Location.
Business location contributes to your organization's growth. Closeness with the potential client, proximity to the residence of employees, amenities nearby and transportation facilities of an area are few important factors for deciding a location for your business. It doesn't matter that you are buying or renting office space, what really matters is where you want to operate from.

What are the options Bangalore has? 

Bangalore can be divided into 5 regions like most of the cities of the world. Here are the divisions with areas suitable for setting up the office space-
  1. Bangalore East – Marthahalli, CV Raman Nagar, Indiranagar and Whitefield
  2. Bangalore West – Mysuru Road, BEML Layout, and Kengeri
  3. Bangalore North – Nagwara, Hennur, RT Nagar, Yelhanka, and Hebbal
  4. Bangalore South – Koramangala, JP Nagar, BTM Layout and Bannerghatta Road
  5. Bangalore Central – Domlur and MG Road

So this is the topography of Bangalore. Now you can choose an area which best suits you, your employees and your business.

Best locations for office space in Bangalore

You should choose a location which best suits your business and your employees. Leasing or buying cost also plays an important role in deciding a location. You should analyze your requirement and come up with a location which suits your budget and all other factors. Sometimes it’s really hard to decide on a location.
So here we Top 5 locations of Bangalore for renting or buying office spaces–

Tuesday, 23 May 2017

How to Set Up an Office without Having To Spend Much?

http://www.commercialofficebangalore.com/blog/how-set-office-without-having-spend-much

Setting up an office space for a business is not a trivial task as it takes a lot of your time and money. While having own office space for a business is a milestone for owners and young entrepreneurs, it’s a known fact that it can go wrong sometimes and the result will be a drastic financial loss.
So, is there any way small businesses or start-ups can set up their offices without having to spend too much? Yes, there are!

Try Remote Work Model

Well, remote work model is not something new for people who’ve been in business for long time. Remote working needs no official place to sit and work for long hours, separate cabins, conference rooms and other typical office space stuffs. All that it takes is a little bit of responsibility from the employee, trust from the company hiring remote workers and high-speed internet connection.
However, the trust shouldn’t be a blind faith as there are a few workers who don’t take remote working seriously. But setting strict deadlines and monitoring on the project management tools or simply scheduling conferences on Skype, managers can always keep an eye on employees.
So, when does this remote working make sense?
All the businesses which are online service based can adopt this strategy of making their employees work from home. Just see if your employees can work from wherever they are. Most of the entrepreneurs who are result oriented follow this approach; all that matters to them is the result, but not seeing their employees daily.
What’s the use of employees coming to office daily but not working to their full potential? Doesn’t make any sense right? But you should never forget the downsides of remote working like employee’s productivity and time management.

How about Co-Working?

Many young entrepreneurs today don’t like the idea of co-working spaces at all. Hubs or co-working spaces are where employees can spend most of their time working as they want. Co-working spaces have basic amenities like high-speed internet connection, cafes, libraries and all that one would look for to carry out his/her business operations.
Why don’t young entrepreneurs like the idea of co-working? Probably they’re forgetting some benefits that co-working spaces have got to offer.
Most likeable thing in co-working spaces is that it gets you meet a few like-minded people around. It offers you the greatest opportunities to build your network which lets you expand your business greatly sometime later. Also, you don’t have to be concerned about the maintenance and think of all those legal procedures to be followed while renting and leasing offices space where you’ll have to go around, search for spaces, redesign the place if it’s not matching your requirement.
But co-working is not everybody’s cup of tea; it won’t work for every company. If your employees are used to be working in a quiet environment, drop the idea of co-working right now.