Can You Rent Outer Space?
Mysteriously, there is a good chance your company has extra space in its office or warehousing because of downsizing or the lack of demand for your product.
One of the best ways to reduce your expenses and increase your cash flow is to rent out your business space you are not currently using.
This seems to be a growing trend to say the least. Leif Berner of Southern Material Handling leased out his extra space starting from 10 years ago. Not only did it reduce his expenses but the rent allowed him to eventually purchase the building adding to his business assets.
Who would sublease you ask? The market is there to rent extra office space. I personally subleased an office when ConnectionForce.com was getting started. It allowed us to save money on our new startup but also saved me time on procuring business communication tools and systems. The first day we moved our office in we had full use of the internet, phone, conference rooms and receptionist. This was immensely valuable.
If you are thinking about renting out your extra space then consider visiting IStopOver where you can list and purchase extra business space from all over the country.
If you are renting out a cubicle or an entire warehouse; a few things to consider before you rent:
1. Price accordingly – you won’t make a million dollars off your extra space (well maybe you will). If you can’t upfit your extra space to be a complete and separate office you can’t charge market rates.
You will be competing you adhoc space with office space with full facilities and design. You will have to go below market price per square foot to be attractive.
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