When it comes to evaluating the advantages of short-term office rental offers, it’s very important to look at the facts and not be biased one way or another. Long-term deals can suit some companies, as long as they have a large capital, they’re in it for the long haul, and/or they want to rent additional office areas when it comes time to expand.
However, if you have a start-up, and you want to expand quickly without the need to overextend yourself, then a smaller office space rented short term might be perfect for you and your company.
Short-Term vs Long-Term Office Rentals
One of the most significant advantages of Denver office space short term rental deals is that they allow you greater freedom and flexibility. You can opt to renew your contract, change it or move to a different area. Moreover, the landlord won’t typically get a chance to push any of the price increases that are associated with a longer-term office rental.
Most of the time, the profile of a company that chooses short-term is a dynamic, hit-and miss service provider or retailer that aims to either increase profits fast or start a new venture while abandoning the first one. In today’s volatile market, this type of business endeavor is actually much more advantageous than one based on stability, especially if you don’t have a lot of capital to go on.
In contrast, long-term office rentals provide you with predictability, stability and even tenant improvement allowances that would provide you with some much-needed extra cash which won’t be subtracted from your profits.
However, long-term office rentals will typically bind you to a contract and keep you paying rent to the same landlord even if you find a better offer. In many cases, if your company expands quickly, this course of action can in fact slow you down, and it can lead to lost opportunities and increased expenses down the line.
With a short-term office rental you don’t have to worry about any of that. Moreover, you will have the benefit of an easy way out. Based on statistics, 80% of all start-ups fail within the first 18 months of their inception, so no matter how good your idea might be, it’s a prudent choice to be prepared for all outcomes, and be ready to make a comeback targeting an entirely different venture, in case the first one doesn’t succeed.
The Unique Advantages of Short-Term Rentals
When it comes to the specific advantages of short-term office rental offers, it’s worth mentioning that they are easy to find, affordable and convenient. The contracts are not as complicated, and you won’t necessarily need to be as careful about it as with a long-term offer.
Short term rentals can really boost your motivation as well. Knowing that your lease expires in a much shorter time will spur you on to try new things and expand your business faster, so your profits can grow and you can afford a more permanent, longer-term office rental in the long run. By not opting for that solution at first, you can save a lot of money when negotiating a better deal for your next office space lease.