Renting an office can be very expensive if one has no knowledge of the factors that influence cost. There are a number of things that add to the general cost of renting an office in Singapore. Understanding the concept of renting office space is the best way to figure out the cost. There are cheap office spaces for rent. It depends on the size, location and amenities you want to enjoy when renting. Here is a more detailed way to figure out the cost of renting an office in Singapore.
Office Space Rental Rates
The rental rates are advertised containing a fixed charge per square foot per year or per month. These rates should help you have a rough estimate of how much you will pay as rent monthly and yearly. Even so, there are many other additional costs when acquiring office space on rent. The rental rates are only useful when factoring a rough budget. The square foot measurement should not be a worrying factor. The purpose is to have adequate space for business.
There are additional costs that come with renting. This cost varies depending on the leasing policies adopted by different landlords. There are also different types of expenses. You can find an office where you are required to pay rent and the landlord offsets all other additional costs upfront. Certain lease agreements like triple net lease dictate that one pays rent, taxes, and insurance and maintenance fees. For double net lease, you are required to pay rent, taxes and insurance while for net lease; you pay rent and a percentage of taxes, insurance and maintenance fees. Landlords may choose to increases the rent every year.
Usable Square Foot
This refers to the area that is extensively used for your business purposes. It is important to factor this in as a higher usable square foot entails a higher price. Ideally, it is the total space that your office equipment will cover. It is not normally advertised, but will generally be a factor as it will contribute to the size of the office you will choose. The larger the office, the more it will cost.
Rentable Square Footage
There is a cost that is associated with all other common areas you and your clients will use in a building. These areas do include stairways, elevators and lobby places. In more technical terms, the landlord also leases out this parts of the building to you. That is why you will find that some buildings cost more than others. The added amenities can be the reason