Extra office space: subleasing is a winning strategy.Extra office space is a non-financial asset Non-Financial Asset An asset with a physical value such as land, property, or some type of object. Notes: Unlike financial assets such as stocks and bonds, which are intangible, non-financial assets are physical and have values based upon their physical properties. within your overall portfolio that has unique potential. If you have under utilized space of over 1,000 rsf hiring an experienced real estate agent will help you maximize In a graphical environment, to enlarge a window to the full size of the screen. See Win Maximize windows. its return. A shrewd step when developing a business plan can be to take extra office space when the original lease is signed. Long term cost efficiencies can be realized by locking in space for your business to grow. As a result, during an interim period before that space is needed, costs can be transferred to a third party by subleasing it. When the business expands later, you can take back the subleased area, thereby, avoiding the expense and inconvenience of relocating your firm due to a space shortage. The best way to realize the potential gains from subleasing is to hire an expert to advise and execute To run a program, which causes the computer to carry out its instructions. See executable code, instruction and EXE file. execute - execution a sublease sublease n. the lease of all or a portion of premises by a tenant who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner. strategy for your business. An experienced real estate agent will know how to quickly market the space and will handle the entire transaction so that you can focus on your business. Through years of experience managing such deals, she will know how to locate the companies and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. professionals who need this kind of space and who are compatible with your business. By selecting an agent with integrity and a sound reputation, your space will be accurately presented to a wide network of agents. To start, the agent will advise what listing price will both cover costs and create attention. Once potential sub-lessees are found, your agent will oversee the bidding process. She will know how to circumnavigate cir·cum·nav·i·gate tr.v. cir·cum·nav·i·gat·ed, cir·cum·nav·i·gat·ing, cir·cum·nav·i·gates 1. To proceed completely around: circumnavigating the earth. 2. the documentation maze maze, detail of landscape gardening based on the Greek labyrinth, consisting of intricate paths or alleys lined with high hedges and having a center and exit difficult to find. It was a prominent feature in the formal English gardens of the 17th and 18th cent. in a sublease consent process. Throughout the process, she will represent your interests and will advise from financial and other business perspectives. The choice of an agent is pivotal to the success of the subleasing strategy. You should make sure that there are no conflicts of interest, i.e., that the agent does not represent competing spaces or parties, either inside or outside the building. Big firms are often prone to these conflicts so you should question prospective agents closely about this issue. You should also select an agent with extensive experience with sublease transactions. Ideally, your agent should be a business partner, someone who will work hard for you, with creativity and diligence Vigilant activity; attentiveness; or care, of which there are infinite shades, from the slightest momentary thought to the most vigilant anxiety. Attentive and persistent in doing a thing; steadily applied; active; sedulous; laborious; unremitting; untiring. . Subleasing extra space can be an important component of your long term business plan. Hiring a trusted real estate agent is a winning strategy. RUTH COLP-HABER PRESIDENT, WHARTON PROPERTY ADVISERS |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion