Sometimes when companies begin estimating their office space needs they often overlook the other costs associated with the leasing office space. Your monthly rent will be the biggest expense you incur however there are other things to consider that you will have to pay for as well. By budgeting these costs now you will avoid any surprises and and frustration later on.
Below are a few other costs to consider when leasing office space.
- Parking – In most cases if you are leasing office space in the suburbs parking will be free. However if a building has covered parking or offers reserved parking then you may incur additional monthly fees if you opt for those options. Additionally most downtown areas are going to charge for parking. In Austin, Tx for example parking fees average $150 to $250 per month for EACH employee. The more employees you have the more monthly costs. At the end of the day it's important that you know how office space parking works in your city.
- Furniture – Every business needs furniture. The question is do you want to rent or buy furniture? Do you want to buy used, refurbished, or new furniture. How many employees do you have now and in the future? Furniture can get really expensive so it's important that you budget accurately.
- Phone & Data Cabling – Depending on your deal you may get a tenant improvement allowance. Sometimes landlords will let you use any left over TI allowance to pay for phone and data cabling. Other times they will not. Regardless you need to budget for this cost as if you are paying for it yourself. If you are leasing a 2nd generation space you may be able to use the cabling that was left. However new laws require tenants to remove their wiring before they move out. So…….make sure you get an estimate on the cost of phone and data cabling.
- Moving costs – Are you going to move yourself? Make sure to get quotes for the cost of moving your office to the new building.
If you have any questions about leasing office space in Austin Tx feel free to give us a call.