Princeton University article about the modern workplace interior design trends to bring workers back to the office after two years of a pandemic.
Things to Know When Leasing Office Space to Digital Workers
Leasing office space to digital workers can be complex. This article covers the things that you should know when leasing your office space to tech workers.
Originally published by Media News. Reposted with permission.
Leasing office space to digital workers can quite be a complex deal. Especially when it comes to new locations and executing new leases. Here, you have to consider your needs or your company’s needs if you are a real estate agent.
While the needs of the real estate organization may be different, you have to keep in mind that you should avoid making losses at all costs. There are things that you should know when leasing your office space to digital workers, and they include.
Expected rent increases
With the rising cost of living, you should never expect the rent rates to remain the same. The expected rent increases depend on whether you offer a fully serviced office or just normal office space. Here, you have to understand that the cost of maintenance will definitely go high with the rising cost of the technology used in the office.
Instead of using complicated and expensive software for visitor management, you can consider other options. Greetly’s visitor sign in system is one of the best options as it doesn’t require costly hardware. Greetly offers a highly customizable visitor management application that’s easy to use to keep the workplace healthy and productive.
The length of the lease
Before leasing office space to the digital worker, you have to consider whether your business will benefit from a short-term or long-term lease. If the digital workers are at their early stages of development, a short-term lease is always the best. That’s because the company they are working for might look very different in a few years.
On the other hand, if the digital workers are from an established company, you can opt for a long-term lease as it makes more financial sense. With the company’s age, you can easily determine the length of the lease with ease.
Under what conditions will the lease contract be terminated? After settling on the length of the lease, you need to set additional penalties and fees that the digital workers should sustain for exiting the lease before the end time. Sometimes, you can allow them to exist without the lease penalty, but ensure that you set the conditions.
Sometimes, you can allow negotiations if the digital workers violate the set conditions unwillingly. The negotiations should be clear and precise, and you should make it clear that you will terminate the lease contract if repeated. So, ensure that the exit clauses are recorded in the lease agreement at your fingertips.
Repairs and maintenance
Who should handle the repairs and maintenance between you and the digital workers? The lease agreement should clarify under what conditions you will be responsible for the repairs and maintenance. It’s wrong to assume that the monthly payments will handle all the mistakes made by the digital workers.
If they break one of the structures in the office, they should be liable for its repair. On the other hand, you should ensure that you periodically paint and maintain the office as per the signed agreement. Ensure that you avoid all unfair conditions or clauses in the lease agreement.
Payment of the CAM expenses
Who should pay the Common Area Maintenance expenses? In most cases, these expenses are usually passed offer to the tenants. This may include landscaping, renovations of the parking lot, and the holiday decorations. Property tax is also included in the CAM expenses.
If the digital workers decide to negotiate for the CAM expenses, you should be willing to listen to them. In this case, you can limit the types of expenses they should cover for them. Still, you can negotiate with them how often certain services will be performed to lower the cost of the CAM expenses.