Work in Australia: find the right office
By Lauren Williamson
The Australian business landscape is packed with entrepreneurial opportunities. Savvy business owners can open businesses in any one of the booming CBD’s that occupy the country’s major cities and take advantage of a well-educated workforce and a great environment to do business in.
The economy in Australia is experiencing an upswing right now, as industries related to energy, tourism and technology flourish. For those looking to capitalise on this economy, this is the time to get an office lease to secure a home for your business. In this exciting market, would-be entrepreneurs can navigate the sometimes-tricky office lease with some careful preparation.
Continue reading below to learn more about the various office leases on offer.
Identify the Most Appropriate Lease Type
The most common leases allow for the business owner to pay in a few different ways.
In a full-service lease, all bills related to utilities and insurance is paid by the landlord. The benefits of this type of lease are that it makes budgeting monthly expenses easier, as the sum that is paid out is consistent.
With net leases, the monthly rent is lower but “usual costs” associated with operations and maintenance are included. The costs included with the base rent range from real estate taxes to utilities like electricity, water and rubbish. A disadvantage of this type of lease is that the monthly payment varies, which might make tracking a monthly budget challenging.
Monthly Lease Term and Payment
As a rule of thumb, the longer the lease payment, the more power you have in getting a bargain. Also, a major element of negotiating a lease is taking advantage of the current market conditions. When demand is high, the likelihood is that you won’t have much leverage in demanding a good rate. On the other hand, when demand is low, you might be able to walk into a lease with a modest monthly payment and grab yourself a bargain.
Normally, the closer your office is to the CBD, the more expensive the lease is going to be, this is something worth keeping in mind. Also, the cost to rent a space with windows or without can drastically change the price of the lease, so it’s important to be aware of what you need before you go looking at your options.
Determine the Type of Building
While there are many classes of buildings, three types of office space make up the Australian business landscape.
The first class is made up of high profile occupations like law, design, marketing and financial firms. These buildings tend to look very polished with atriums, marble floors and valet services. Characteristics of these buildings include luxurious fixtures, twenty-four-hour access, and high-quality internet access. They are also highly-maintained, often-remodelled high-rise buildings. The CBDs in some of Australia’s major cities feature buildings like these. These prestigious locations are often accessible through premium office solution providers who offer serviced and virtual office space at these sought-after locations.
The second type of buildings are those that have been downgraded because they show signs of wear or the area is not as attractive to business interest, usually due to market demands. These types of buildings are similar to the ones in the previous paragraph, but they are not as highly maintained or remodelled.
Finally, the last type of building is general workspace usually reserved for government offices. These buildings are much older and definitely have signs of wear on them. These buildings do not have many amenities and the technological amenities are often outdated.
Choose the Right Leasing Option for your Business
For the most part, looking for space in the Australian landscape can be a positive experience. However, because market conditions mean that office space is in great demand, especially in Melbourne and Sydney, those looking to get in on a bargain should begin early and have a plan.
Alternatively, you can consider serviced or virtual office solutions in prime locations in any of Australia’s major cities through providers of premium office solutions. With short-term flexible lease options and everything you need in place when you arrive, you can enjoy all of the benefits of a traditional office location with a prestigious address for a fraction of the price and with much more flexibility. This allows you to get on with running and growing your business, instead of getting weighed down with trying to negotiate long-term, rigid leasing terms.
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