Business office space is a vital part of owning and operating a business. Choosing the right type of office space and location can make or break your business. If you’re located within the Boston area, think about renting office space in The Lakeside at the Park! Located just 12 blocks from downtown Boston, these affordable, convenient office rentals are ideal for any business needing an office on the go.
For those in downtown Boston and throughout Massachusetts, many local businesses offer highly customized and professional conference rooms, boardrooms and meeting spaces. Whether you need additional meeting space for small business meetings or require more personal, luxury conference rooms, many local businesses offer many options. Depending upon your needs, the pros and cons of shared office space and / or private offices will play an important role in your decision. Here are some of the pros and cons, you should consider before you decide:
Private offices provide security and privacy. Most small business offices offer some sort of private or secure environment for important meetings. Conference rooms and boardrooms are typically equipped with security to ensure your attendees remain safe during long-winded discussions. Private offices may also have fire escapes and emergency phone numbers to connect you immediately if the need arises.
Leasing office space costs less than purchasing or using a building on your own. If you have limited funds, renting can be the most affordable option for your small business office space needs. Whether you need a simple one-bedroom home office or need an office with three or more bedrooms, leasing office space costs much less than building or purchasing a building. You will also save on utilities and taxes when leasing than if you purchase, since your monthly rental payments are tax deductible.
Space efficiency is important to many business owners. Businesses that lease office spaces have the opportunity to choose from various floor plans, depending on the needs of their specific business. You can lease a basic or executive suite, depending on your specific needs. Flexible floor plans are available to accommodate the changing needs of your company as it grows. Leases often contain generous floor plan variations for ease of leasing.
Business owners often prefer leasing because they don’t have to worry about property taxes, utility bills, or upkeep. When leasing, monthly lease payments are generally less than if you purchased the space. During the lease term, you are responsible for paying the monthly lease payment unless you elect to pay a prepayment penalty at the end of the lease. Business owners often find leasing to be an economical way to finance their business ventures, even when they have to take out a loan to cover the space expenses. In the end, leasing can save you a great deal of money on your business office space cost.Infographic created by DuroVac – osha compliant vacuum