have spare office space that you do not use?
What to do when you have spare office space that you do not use?
You probably would not rent a five-bedroom house and only use two bedrooms, would you? We certainly wouldn’t. So why waste that spare space in your office? What to do when you have spare office space that you do not use? Rent it out!
There are many reasons for businesses to sublease office space that they do not use. A few of these reasons could be:
- Your business can no longer afford the rent;
- Your business is growing and needs more space than you currently have;
- Your business is paying for more space than you actually need.
We have created four questions to ask yourself before deciding to sublease your extra office space! Listen up:
1. Will subleasing your office space make money?
You might be surprised that you can actually, very easily, make money from extra office rooms that you have unutilised. Especially if your office is located in an up and coming neighbourhood. To start this process you can check out anyspace.co.nz to look around for how much money other and similar spaces are renting out extra space in your neighbourhood. If office space is in high demand in your area then you might even be able to ask more than you think. You can always ask us to help out with pricing strategies, just shoot us an email at email@example.com.
2. Who do you want to sublease your space to?
At the end of the day, you will be responsible for any damage in the space you are renting from your landlord. Even if this means that your sublessee that is renting this space has broken something. Therefore it might be smart to choose a renter that you can trust. Do you already have someone in mind? A platform such as Anyspace where people are connected to other members in a well-trusted community can be a great solution to this. On top of that, before getting into business with someone on Anyspace, you can check out what other people have written about them. We have a system based on testimonials and reviews, just like Airbnb.
3. Is your landlord ok with you renting out unused space?
Most of the time, when you pay your rent and respect the rules in your agreement, the landlord will be willing to work together with you to see what your needs are. If subleasing unused space is the right move for your company then why not have a talk with your landlord to see if this is possible. Landlords are often quite busy and you’d be surprised that they, if you have been a good tenant, are willing to let you make some extra income from subleasing space that you do not use. Just go out there and ask them!
4. Will you still be using some of the space you are renting out?
So, you’ve looked into renting out your unused office space, you’ve looked into who you want to rent your space to and you checked if your landlord allows you to rent out spare space. Now it is time to list your space and promote it so you can actually rent it out. Before doing so, think about which space is going to be rented out and which space is going to be a communal space, both for you and the sublessee. This might be a toilet, a kitchen or a communal place to play table football. Which communal spaces do you want to share and which spaces would you like to keep for your own business?
These simple steps below will help you to sublease your extra office space and make some extra money in the meantime:
- Go to anyspace.co.nz and see what other spaces in your neighbourhood ask;
- Find out which renters at anyspace.co.nz you would like to be your sublessee;
- Ask your landlord if subleasing part of your space is ok;
- Figure out which areas in your office you want to share, and which ones you want to keep private;
- Follow a few easy steps on anyspace.co.nz and list your space, you’ll be able to find the right tenant in no time;
- Any questions: feel free to email us at firstname.lastname@example.org, always happy to help!