Are You Ready To Move?

Moving your office can be a very expensive and time consuming project.  Our advice? Don't do it unless you really have to!  But you are crowded in your current space, you say?  There is no room to add any new employees, you're sick of looking at the scuff marks on your walls, and you just HAVE to get out of there!  Well, maybe, but maybe not.  Before making a decision to move, spend some time exploring answers to the following questions:

How much space do you currently have?

The general rule of thumb is 200 square feet per person.  A space with no offices or cubes can usually fit more and still be comfortable.  If your current ratio of people to space is less than 150 square feet per person, it is time to expand.

How much rent are you currently paying?

Be sure to look at other monthly costs as well, like taxes, utility costs, and common area maintenance fees.  Are other services included in your monthly rent? 

What are market rents?

Sources to determine current market rents include your landlord, the local business newspaper, and the internet.  If your current rent is lower than current market rents you'll need to figure the higher rent into your analysis.  If your rent is currently higher than market rents, then clearly the savings will be an incentive.

Is there space available in your current building?

This question also relates to the state of the market and the rent you are paying relative to new tenants in the market.  If your rent is below market rate, your landlord may be very happy to have you leave and your negotiating position will not be strong in your current building or in any other building.  If you are currently paying above market rent, keep in mind that your landlord does not want to lose you as a tenant.  Your moving will leave your landlord with an empty space and eventually a tenant who is paying less rent.  Staying in your current building and expanding and/or negotiating a new lease rate may be your least expensive option.  

Whatever your decision, Cool Space Locator is a resource that you can depend on for assistance or advice - whether you decide to move to a new space, want to renegotiate your current lease, or just need help deciding the right time to move.