10 Ways to cut your office space spending:
1. Economic Development Incentives –
Don’t think these incentives are just for the big guys. Economic development incentives are created to encourage job growth. Companies as small as 25 employees can enjoy these benefits
2. Energy Savings –
Big money here, there are lots of incentives to choose from. Get a consultant, bring in the utility, you have a bevy of alternatives to
choose from, many will be paid for by the utility itself or the municipality.
3. Re-configure your space –
Odds are your space design is the result of years of shoehorning – putting desks in any available space, and back. A careful re-planning of your space and the furniture can result in
more efficient and smaller space and may also have a significant impact on corporate productivity.
4. Renegotiate your lease –
There are a multitude of reasons why your landlord would be willing to renegotiate your lease. Don’t just assume that since your lease doesn’t expire for a couple more years that you are “stuck”. That can’t be farther from the truth.
5. Hire a construction expert –
Don’t assume that the Landlord or even your architect will protect your interests in building the space. Bring in a project manager who can manage the costs and anticipate problems. That one can save you a fortune as well as time and aggravation.
6. Get a good lawyer –
A lawyer who is familiar with the local issues, leases and customs will know to focus on the important issues in the lease. Too often a lawyer who isn’t familiar with local leases will expend too much negotiating capital negotiating for less important, irrelevant issues. This may result in the tenant not getting some of the important legal and financial terms they need.
7. Step into my parlor said the spider to the fly –
How many times do I have to hear a tenant say “the Landlord is my friend and we have a special relationship”. Let’s get real folks the only one the Landlord has a special relationship with is his banker.
8. Hire Me –
If not me than another broker. I can’t say it enough, a knowledgeable intermediary can save you a ton of money. He not only brings market knowledge and skill as an intermediary but ads the leverage of the perceived threat of the tenant moving out.
9. Review the charges –
Do a lease audit! There are so many mistakes a Landlord could make in the rent bills, operating expenses and other charges that are compound over the years that you would be shocked how much money you have been overcharged.
10. LED lights, solar power and Cogeneration-
Consider the different ways to lower your energy bills by using alternative sources of energy.