How to Tackle Rising Real Estate Costs and Underutilised Office Spaces Effectively

How to Tackle Rising Real Estate Costs and Underutilised Office Spaces Effectively

The ability to make intelligent decisions is essential to a prosperous business. To get the most of their time, managers should be able to recognize the upcoming trends within the company, analyze their effects, and make informed decisions to ensure an impressive gain. The ability to quickly identify the most effective solution opens the way for success in your business.

Two main issues related to office space that one commonly encounters are:

* Skyrocketing real estate costs

* Not enough efficient use of office space

Here are some tips to assist you in understanding how to solve the “whats” as well as the “hows” of these questions.

Escalating Real Estate Costs

Achieving a commercial property is a long and tedious procedure that requires a variety of legal and professional issues. Furthermore, it is not possible to entirely stay clear of the costs associated with real estate. Beyond the apparent lease, rent, or property expenses and expenses, real estate has additional expenses:

* Prominent Location

A business that is situated in a conspicuous area is generally found as more lucrative since it not only helps bring in more clients and establish an image of a brand and promotes satisfaction among employees as it provides the convenience of travel.

Yet, office spaces in prime locations are costly, which generally discourages buyers.

* Brokerage Costs

Brokerage fees are the charges paid by a realty broker to facilitate the transaction between owners/buyers who own the house. Most of the time, when the intention is for business, the agents charge unpredictably high sums.

* Stamp Duty and Registration Fees

A certain amount of legal expenses, including fees for stamp duty and even registration fees, is a part of the process of registering real estate. If the registration process isn’t complete, one isn’t able to claim legal title to the property.

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Other costs associated with real estate comprise furnishings, infrastructure, and maintenance costs. These costs are constantly growing, making real estate a significant problem for management.

Underutilized Office Space

Most often, businesses set up large offices for their business to allow for flexibility. But, the majority of office space and the infrastructure are not utilized. While this appears to be a minor issue, in reality, businesses spend the majority of their budgets on infrastructure that’s not being utilized to the fullest extent and is in need of repairs, maintenance, and so on. In addition, under-utilized or unoccupied space can be a high cost when it comes to the cost of the lease or rent on the premises.

The move to a less spacious office will not solve the problem since the office owner would then have to sacrifice the flexibility that more prominent offices offer. In the case of expansion, it could require moving to a bigger office, thereby incurring significant additional expenses. A smaller office can hinder the ability to conduct professional conferences and meetings.

Get Advantage of Serviced Office Advantage

If you are looking for a professional and simple solution to the issues of real estate expenses and under-utilized office space, serviced offices are the correct route to choose. These offices are a great solution to these problems in these ways.

1. There are no additional costs

The offices that are furnished for service are equipped with the necessary infrastructure for your company. This helps solve the issue of fluctuating real estate costs by offering a straightforward solution to a monthly all-inclusive cost.

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2. Customizable Infrastructure

Serviced offices offer the latest infrastructure that is customized to meet your needs. You can personalize your office space according to the facilities you need and pay only for the space you need.

3. Prominent Places

Through serviced offices, you have the benefit of well-known offices at no extra cost. This means you’ll be able to be in contact with the big significant corporations in the industry and enhance your image.

4. Flexibility

Serviced offices can be found in a variety of layouts and sizes, depending on your needs. If your business grows and you need to expand, you can relocate to an office space that is larger, just as you would move next door.

5. Reduce the cost of unutilized infrastructure

Pay only for the amount you actually use if your office doesn’t take up all the available space increase the efficiency of your business by moving to smaller offices and reducing the costs associated with new infrastructure.

6. Additional Facilities

Professionally equipped rooms for training, meetings, and conference rooms are able to be used at any time and thereby helping you a lower cost associated with these rooms.

7. Value Added Services

Additionally, you can avail of added value services like receptionist, secretarial, and concierge services in offices that are serviced.

Avanta’s Serviced Offices

Avanta India offers state-of-the-art office areas in well-known places that include Connaught Place and Saket in New Delhi. Avanta offers a broad assortment of services that include fully furnished Serviced Offices, fully-equipped Meeting Rooms, as well as virtual offices that are flexible.

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Contact us for more information on what we can do to help you reduce the cost of real estate and make the most of the office space you have.