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Office Space Rental Rates

If you want to rent out an office space, you should be aware of the prevailing rates in the market. Today, you can find offices at $3 per square foot a month while other charge on an annual basis.

You have to conduct some research or you can hire an agent to find the best deal.

Prevailing Office Space Rental Rates

There are many things that you need to address during the startup stage and one is office space. Purchasing a new property can be expensive and since most business owners want to cut down their expenses, they are in search of affordable rental rates. Before you begin your hunt, you should be aware that the rates are affected by the size of the office space, term or duration, proximity to other locations, views, storage, and the current market. The rate will be fixed over a certain time and it will be reflected on the contract that should be signed by both parties.

Office leasing in the urban areas are usually quoted on an annual basis, whereas for retail or industrial, it is expressed on a monthly basis. Today, it’s typical to find rental costs at around $3 per square foot monthly. In fact, most rates are charged per square foot. There is a tactic used by owners of these office spaces – it’s better to express the rental rates on a monthly basis rather than yearly rates. For instance, business owners will more likely settle with a $3 sq ft/month rather than paying $36 sq ft/annually. Quotes are the determining factor before business owners make a choice.

Hiring Agents

You can ask help from real estate agents in your area. These people know the best deals when it comes to office space rental. You can provide the agent with a list of your requirements and the amount that you can afford to pay. The professional will be the one to look for the office space within your specified range. They usually have contacts with other agents in your area and receive listings before they are released in the market. Find an agent today and stick with the reputed professional.

You can save a lot of money and time if you work with a real estate agent. The fee that you’re going to pay for the services of an agent is nothing compared to the benefits that you can get from a great location that is offered at a low rental rate. What kind of business are you planning to put up? This will determine the size of the space you need for the office. Set aside a budget and make sure that you have enough cash flow to pay for the monthly rents on the initial operation of the business. You should do your homework if you want to find the best rental rent that you can afford.

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6 Comments

  • sumit k paul said on January 10, 2013
    I have my own space in prime area in kolndia)..on road i'm looking for good franchise or may give rent.
  • Rajani kant rai said on January 10, 2013
    I have a property in prime location in sigra varanasi and i want to give it on rent
  • Sanjay said on July 11, 2013
    Hi I need a shop at rent in bangalore at chickpet area abt to 100 sq ft. with a budget off rupees of 10k to 15k. If give me a call.
  • Sandeep Singh said on May 3, 2014
    I have 12000sq feet constructed commercial rented space in transport nagar,lucknow, 9939201457
  • Rajiv said on November 27, 2015
    I have good spaces in prime locations in ludhiana (punjab ). I have showrooms, shops in main road, posh areas in our city. If anyone want to start a normal scale or big scale business with good profit. Then i will give you idea + place. Please feel free contact with me 78371-70142. Only deal in ludhiana.
  • Vijay Sharma said on May 12, 2016
    Hi Every One, I have plenty of office spaces at New Mumbai @ Palm beach Road , Kharghar, Kamothe, Panvel, Taloja & Ulwe. For Bank, Hotel, Home Loan, Gold loan Company, FMCG outlats etc. Location are good for business with good crowd. And you can also call me for any details of property or market trends for my location and vicinity.

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