The hidden costs of leasing

August 12th, 2020

Category: general

During these unprecedented times, decision making is more challenging than ever before. And with the pandemic having a huge impact on businesses, deciding what to do about office space is one hard decision that a lot of companies are trying to make.

One of the biggest difficulties about leasing an office is the fact that you can be stuck leasing for several years and when the future of your workplace is harder to predict now more than ever, this can cause issues.

On top of getting locked into a lease that can last many years, another undesirable fact about leasing an office is the hidden costs, which again, during this current climate when it’s hard to forecast the future of your business, is something companies will want to avoid.

The overall costs when you lease an office space not only include rent money but also include the likes of furniture, equipment, getting the office fitted-out, office supplies etc. While these are all pricey pay-outs and not all of them one-off payments, these costs are to be expected when moving into office space.

On top of this, there are numerous annual costs that will also be expected, these include IT, security, cleaning, maintenance and health and safety management etc. You may be thinking what more could there possibly be?

Hidden costs include:

Time wasting – Creating an office environment that you and your team are comfortable and happy in can take a lot of planning and time. It is important to create and plan a space in where a team of people can work effectively in and this can often lead to taking up a great deal of senior management’s valuable time.

Lack of expertise – To skip added costs of getting someone in to design your office, many businesses opt to figure this out by themselves. However, not being an expert in this can mean creating the workspace can be left to members of staff who in turn become distracted from their core tasks (again, wasting time) and without the right expertise, don’t have all the right answers on how to create a comfortable workplace.

Unused office space – Predicting how your company is going to look a year down the line is tough and knowing the amount of staff you will have to accommodate is even trickier. Due to the pandemic, a lot of businesses will now be looking for bigger space for their offices to allow for social distancing. However, if the size of your team reduces over the year, this can lead to a large amount of under-utilised and empty space.

Luckily, there is a solution for this and it’s a flexible workspace. Flexible workspace and flexible short leases are solutions for businesses that feel nervous about committing to a long lease or predicting what their team numbers will look like in a years time.

Get in touch with BlueSky to see how your business could benefit from a short and flexible lease today!

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