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

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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.

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

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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.

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.

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

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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.

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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.

to know more....

Top 5 Locations to Set Up an Office Space in Bangalore

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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–

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

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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.

How Contemporary #Office Design Improves #ROI of a #Company?

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Why an office space should be fashionable? What are the benefits of modern office space design?

Well, office space is a place where the employees spend most of their time in a day, and it should never be boring. Most of the business owners are not aware of the importance of office space that they just get into it without thinking if it suits their business and employees, and face troubles later. But a business owner must be aware that an office space can turn out to be a boon for their business if they choose it wisely. Yes, contemporary office space design is proved to be beneficial for many businesses and it’s said to be improving their ROI greatly.

Here are few ways how modern design can help businesses gain more profit.

Saves Significant Cost

Currently, the most happening vogue in office space industry is the Green Office. Many large enterprises and small organisations have already started following the green office trend, and it’s working for them.

Bringing in some live plants inside the office space adds an elegant look to the office while also improving the employees’ productivity. Yes, the research says that bringing live plants into the workplace fosters creativity in employees and helps them be active throughout their working day. As it adds a great décor to the workspace, it reduces the need to add some attractive artefacts to enhance the beauty of the space.

Green office doesn’t just mean bringing in some live plants, but also means making efficient usage of energy (proper ventilation, using bulbs that consume less energy, etc.) which saves significant cost to company.

Better Productivity

Productivity is never an accident; it’s the result of commitment to excellence, intelligent planning and focused effort – Paul J Meyer

You just have to find a way to keep your employees happy. And, the contemporary design just does that. As said in the above point, when the office space is attractive and energy boosting, it enhances employees’ productivity and helps them be lively throughout the day.

A simple wall art can be an inspiration to the employees which help them do wonders. This is the reason for most of the companies giving high priority to their workplace. They clearly know the benefits that an attractive office space can provide.  Whatever they do, they make sure that they provide productive work environment for their employees.

Sparks Innovation

When the office space itself is innovative, the employees start being innovative too. Yes, it’s been proved that employees working in a creative workspace come up with innovative thoughts. But the innovation should be in a way that it’s supporting your and employees and business type.

It can start anywhere; may be usage of vibrant colours for painting or even an attractive roof. It keeps the employees inspired and makes them think out of the box, which is much needed for the growth of a company. And, when the employees start thinking innovatively, it definitely shows in ROI.

A business owner must clearly know the importance of providing an attractive office space to their employees. They must know that it is not just a place for their employees to work, but it’s a place where miracles happen. Many multinationals like Google, have started seeing office space as a strategic tool to improve productivity and foster collaboration.

So do you think your office space is providing you these benefits? If not, it’s time for you to look out for a modern office space. But how would you find one? Don’t worry! Commercial Office Bangalore can help you with that. We are an experienced property management firm providing commercial real estate services. Let us know your requirements; we’ll help you find an amazing office space for your business.

5 Great Techniques to Improve Productivity at Workplace

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How to make most of my team?

What should I do to make my team productive?

These are the pertinent question which bothers you a lot when you are running your business.

It becomes more important to achieve ultimate productivity in initial days of your business as you can’t afford extra resources. Getting the most of your team doesn’t mean working them to death.  If employees overwork up to the extent of being stressed then it would be more difficult for you to retain them and hire good talents. It could lead to a bad reputation of not caring for the employees too.

So what are the options you have to make your team productive without stressing them?

You can optimize your office space, change your workflow and monitor work process to work towards getting more productivity from the existing team.

Here are few techniques by which you can ensure greater productivity from your team at workplace-

1. Use Colors Wisely

Colors play an important role in office space. It impacts our brain’s performance and can affect the level of motivation. Red and blue colors are known for improving productivity.

Blue is known for igniting creativity and inspirational thoughts. It’s better to use this color at the time of solving a problem or writing a business proposal. Red colors can be used to focus with the concentration. Red is considered good for attention to details. These colors can be implemented in office interiors as well as on employee’s desks.

2. Schedule Everything

Scheduling is one of the most important things to do for the productivity. As a business owner, it's your responsibility to educate employees about the benefits of scheduling things.

Almost all employees, irrespective of the industry use this technique but it's limited to certain important tasks only. They probably mark down important meetings and deadlines in a calendar but that's not enough for increasing productivity.

All employees should schedule every single task well in advance. And they should stick to the schedule and deadline. Then only they can ensure timely completion of work. Scheduling everything is critical to ensure the value of time in employee’s mind. And it gives ultimate focus towards work. 

3. Give Proper Breaks to Employees

Taking breaks at regular intervals is also crucial for employee’s productivity. All breaks should be timed properly and everybody should respect that. Breaks are really important in a job where lots of thinking involve like software development.

Apart from longer breaks like lunch, there should be some shorter and strategic breaks too. A shorter break allows you to refresh the mind and start working with new energy. Some expert says that it's better to follow a rule called 10+2 for shorter breaks. It means work 10 minutes and takes a break for 2 minutes. So in an hour, you should take 5 breaks of 2 minutes. It's a great way to take the shorter break but there is no compulsion to follow the same rule. You should analyze your business and employees and create your own rule which suits you best.

4. Limit Use of Gadgets on Desk

Gadgets are double sided swords. Depending on the situations it can be the best friend and or worst enemy for the office productivity. According to a research, an average person checks his phone 150 times per day. It won't take much time for checking notifications but it can surely distract employees from their work.

So what is the solution? Leaving your cell phone on the desk makes you irresistible for using but its easy to handle if you put it in the drawer. 

As a business owner, you can create a policy to keep phones or tablets in the drawer during work hours. But it can be a hard policy to implement. So talk to your employees and try to come up with a solution which is good for both.                                                                       

5. Keep Meetings Short

Meetings are really necessary for the functioning of any business. But meeting can be a time killer too if not planned well. So it’s better to make meetings more productive or don’t do that at all.

Sometimes we see that there are few people in the meeting who don’t have any significant role in the meeting. So before scheduling any meeting in your organization, make sure who is really required for the meeting and how much time is needed to discuss the agenda.

So it’s better to have short and fruitful meetings instead of boring and non-productive one.

Conclusion

Productivity is a fickle concept. It varies from person to person. The same thing which encourages someone to stay productive can be a distraction for others. Employees are different and so are their jobs. So it’s your job as a manager or business owner to encourage them in right way to achieve the productivity goals. Nothing is better than communication in this regard. Talk to your employees and try to find out what they love in an office space and implement accordingly.

7 Etiquette Advices to Consider if you are in an Open Office

Nowadays there are numerous start-ups rising up every day, and office space has been one of the major curbs for them, which is why many small enterprises still work in spare bedrooms, basements, garages or any single or double-room office spaces. Office space cost has been the main reason for these start-ups opting for these types of office spaces. Some even do not mind sharing their workspace with others, and this is why open office spaces and co-working spaces are on the rise these days

But if you’re in an open space, make sure you follow these etiquette advices.

1. Respect Others’ Need to Work.

Conversing with the neighbour employee is the common thing in most of the corporate offices, and it becomes annoying at times too.

Just because a person is sitting next to you, he/she doesn’t have to listen to your ludicrous stories all times. Being a responsible employee, you should respect your co-worker’s privacy. Even though there’s no barrier in between, you should act as if there’s a door in between, and if the next person seems to be busy, make sure they have time for you before speaking.

2. Beware of Odour

When you’re sitting close to other employees in an open space, the odours get magnified and it can annoy the person sitting next to you.

So take this into consideration while packing your food to office. Also, try eating in an area dedicated for that (break room, outside or cafeteria), and not on your desk. Yet another important thing to be considered is that, there are many people who are allergic to scents; may it be perfumes, strong after-shave or cologne. Make sure to use them in limits so that it doesn’t harm others in office.

3. Keep Distractions to Minimum

Sometimes people seem to have forgotten where they are when they’re in a deep conversation on phone, that they speak so loud and irritate others in the surroundings. And it is the most common thing in an office space; noisy conversations (May it be on phone or between co-workers) often distract people who are closer to it.

Also some peculiar habits like fidgeting, tapping on the desk, and getting up quite often can also cause distraction to those who are trying hard to concentrate. So make sure you keep these distractions to minimum so that people around you can work peacefully.

4. Be Clean

Your messy and unorganised desk can be a distraction to others working around you. It also detracts from the professional image your company is trying to build. So make sure you keep your belongings restricted to your personal space, and clean up everything that belongs to you while leaving from work.

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