Common Leasing Mistakes #1 : Budget budget budget

​When selecting a new office space, it’s important to get this decision right. Your new workspace can influence your internal work culture and says something about your brand to visitors.

If your workspace isn’t working for you, now is the time to start thinking about why and what you can do about it.

So, why do so many fail to allocate a realistic budget and allow for upfront costs? 
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BRM Projects help SMEs find suitable office space and create great workspaces for employees to thrive in.

With so many factors to consider, the best time to start thinking about new office space isn’t 3 months prior to your lease expiring.

At BRM Projects, we recommend our clients start thinking about how their current office space is working for them at least 18mths before lease renewal time. Finding a workspace that ticks all your boxes can take time to find and time to create.

Time gives you the opportunity to thoroughly assess whether you do need a new office space or whether we can help you make your existing space work more effectively.

Why budgeting is so important

Your budget will influence some key decisions in choosing a new office space. It’s important to identify what you can afford and set a budget that’s realistic. The location and size of space you choose can great impact your monthly rental spend so it’s important to consider your needs, the various options and how these will suit your business.

Your budget also needs to allow for upfront costs in addition to the monthly rental rate. Commercial property is different from residential in terms of financial responsibility of things like fit out and maintenance. As a commercial tenant, you’ll need to factor in some the following expenses:

Design and fit out costs:
• Installation of IT and telecommunications
• Fees associated with using site facilities and
  services (parking, cleaning, security etc).
• Commercial insurance
• Council fees, planning and evaluation reports
• Security deposit
• Relocation fees

Is your commercial office lease coming up for renewal?
Are you considering new office space?

BRM Projects can help you find a space that works. Contact us today.

contact@BRMprojects.com.au
(03) 9521 1007