Office Space Rentals: Changes and Trends in Office Space Density

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In the past, many different service and product providers would have offices which were large and all encompassing. Whether it was rows of office cubicles or a vast array of individual offices, many of the offices of yesterday were quite larger than many company facilities today. There have been quite a few changes with regard to office space density, largely due to business owners wanting to cut costs. The following will explore the changes and trends in office space density and highlight what the features of office space density are likely to consist of in the future.

Office Space Density Has Decreased As Costs Have Increased

Although there are many more office space facilities being built, many of the individual offices for various companies have been decreasing in size. Cost is a big factor in this regard. It is costly to pay for employee space as well as employee workspace materials. Many companies are downsizing as they simply can’t afford to have large offices due to the high cost associated with these areas. Utilities cost more as do office furniture purchases to properly accommodate many employees. The business owners have had to look to other alternatives in order to be able to afford operating their workspace. Fortunately, with technology on our side, many other options are readily available with regard to properly staffing a company while keeping office space density to a minimum.

Cloud Computing Enables Companies to Downsize With Regard to Office Space Density

Cloud computing is one technological advancement which has allowed business owners to cut back on their office space density. Cloud computing is a type of shared service option which makes it possible for businesses to get the services they need without having to have a bunch of extra employees taking up office space. The options available with cloud computing keep increasing and businesses are taking advantage of these features on an increasing basis.

Telecommuting Options Have Increased For Employees

Another change which is seen with regard to office space density is the increased availability of telecommuting options. Many company owners realize the advantages to having employees work from home and employees love the convenience associated with telecommuting. Basically, it is a win-win situation for all involved. This is another trend seen with the reduction of office space density and one which is quite popular for both business owners and their employees.

The Future of Office Space Density

The trends currently seen with office space density do not seem like they will be dwindling any time soon. As more business owners face the high costs associated with a large employee base, they will keep exploring options as to how they can reduce their office space density. Telecommuting options are bound to increase as are cloud computing services. Business owners are figuring out that by utilizing these options, they can decrease costs all the while having their staff properly in order and doing business with ease. Reducing office space density is possible and there are bound to be countless amounts of additional resources available to business owners who wish to decrease their office space density while maintaining their current operations effectively.

Sublease and Assignment Clauses in Commercial Leases

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Commercial leases can be a bit overwhelming when it comes to understanding their contents, especially for the novice commercial office space tenant. However, there are certain clauses to be on the lookout for within the lease which will dictate how you can engage in your tenancy. The sublease clause and assignment clause are two clauses which you will often find in a commercial office space lease. These two clauses let the tenant know how they can occupy their tenancy and whether or not anyone else may come into possession with their permission. Here are some things which you as a commercial office tenant must know about sublease and assignment clauses:

What Is The Difference Between a Sublease and an Assignment?

There are distinct differences between subleases and assignments in commercial leases. A sublease is when the office space tenant transfers only a portion of their office space lease term to another. On the other hand, in an assignment situation, the office space tenant transfers their entire interest in the remainder of their lease term to another individual. Some landlords will allow one, both or neither. It basically depends on the individual landlord and oftentimes what the current area trend is with regard to assignments and subleases in commercial leases.

What Do The Sublease and Assignment Clauses Contain?

The sublease and assignment clauses contain all of the factors surrounding these two types of tenant transfers. In general, the clauses will either state that the tenant is allowed to sublet or assign the property during their tenancy or that they must refrain from doing so. Some commercial real estate clauses pertaining to these issues may take the middle of the road approach and allow the tenant to do one or both of these transfers but with restrictions.

Are These Clauses Negotiable?

Sublease and assignment clauses are usually negotiable items in the lease.  It never hurts to inquire with your future landlord as to whether or not you can change the terms within the sublease and assignment clauses. A tenant representative can help you to make this request and provide valid arguments for why certain changes or requests should be granted.

Must You Follow These Sublease and Assignment Clauses?

Once the sublease and assignment clauses are in the commercial office space lease and the lease has been signed, they are permanent fixtures of the current lease. Therefore, you must follow the guidelines listed in these clauses. These sublease and assignment clauses not only benefit the office space landlord but also the tenant by detailing how the tenancy must be carried out during the lease term.

Sublease and assignment clauses are commonplace in commercial leases. The terms of assignments and subleases will vary depending on your individual lease. Before you sign your commercial office space lease, make sure you read the lease thoroughly, especially the assignment and sublease clauses if you intend to transfer any part of your tenancy during the lease term.

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Shared Office Space Chicago

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Leasing office space in Chicago is a desirable goal for many professionals. You may be interested in renting office space in Downtown Chicago but not have the need for a single business office space setting. This is where shared office space comes in handy. Shared office space enables you to lease a private office or two but have access to many shared amenities with other tenants in the building such as receptionist services, mail services, conference room availability and more. Finding the right type of Chicago office space is easy to do when you know where to look and what type of office space to look for overall.

Choose a Chicago Location Which Suits Your Business Needs

Searching for a Chicago office space lease location takes time, especially when reviewing the various shared office space options. You want to pick a location which suits your business needs. If you are a professional business, you want to locate a shared office space where other tenants focus on similar types of business. However, if you have an industrial variety of business, make sure that your shared office space is along the same lines as this type of business. Shared office space works best when all tenants are involved with similar lines of work, i.e. professional services, industrial businesses, etc.

Select Office Space Amenities Which Boost Your Business

When Chicago business owners lease shared office space they have the opportunity to acquire shared office services as well. These amenities make doing business a whole lot easier. Some of the service amenities which business owners can acquire via shared office space include receptionist services, conference room reservations, mail service, tech services and more. Rather than having to pay an employee to complete these services for your business, when you lease shared office space, you will have access to these amenities as a benefit of your lease, although some locations may charge a bit extra per month for certain added extras.

Calculate Office Space Needs Properly

Another thing which will help you to find the ideal Chicago Loop shared office space is to make sure you calculate how much office space you need. This helps in the search by allowing you to zone in on the right properties and ensure that the office space that you lease is neither too small nor too big. Consider factors such as your current employee base, line of work, whether you want individual cubicle spaces within the shared office space or open areas and more. When you calculate your office space needs properly, you will find that choosing the right office space location is an easy task to achieve.

Finding Chicago shared office space to lease is a wise choice for many businesses these days. It offers business owners options of sharing office amenities and paying less for the lease than they would have to if they chose to lease a single office space or entire building for their company. If you want to locate shared office space, the downtown Chicago area is the prime location to search.

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Chicago Office Space: Attractive Qualities of Leasing Office Space

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Business owners located in the Chicago area have plenty of options when the time comes to lease commercial office space. Some choose to lease office space in the Chicago suburbs while others find that downtown Chicago holds many attractive qualities and draws them in. Although the suburban area has its own distinctive qualities, there are many great features which propel business owners to the city streets of Chicago and entice them into leasing commercial office space throughout the city. The following will highlight some of the many attractive qualities of leasing an office in the Chicago downtown area.

Leasing Options Are Wide and Varied

Office space leasing in Chicago is a wise choice as the leasing options are wide and varied. From single-room office spaces to multiple floors of high rise buildings, business owners can find the right style of office space to lease in downtown Chicago. When compared with suburban locations, Chicago has so much more to offer with office space style variations. In addition, commercial office space seekers can look in different areas of the downtown area and find the location which is most akin to their industry.

Public Transportation Makes Commuting Simple

Chicago has another attractive aspect which is the public transportation options. Taxis, buses, trains…practically every public transportation option you can imagine is available in Chicago. Commuting is simple in Chicago due to the wide array of public transportation. Not only does this allow business owners to get to their place of business but this goes for their staff and clients as well.

Large Client Base Opportunities for Chicago Businesses

The city draws in clients from all over town and the suburbs as well. When you lease office space in downtown Chicago, you can rest assured that your client base is readily available. The city atmosphere allows prospective clients to find your door, especially if they are in the commercial neighborhood for another entirely different reason. Having an office in the downtown Chicago area is a great way to draw in new clients and provide goods and services to your current clients as well.

Restaurants and Shopping Nearby

Leasing commercial office space in the city means that there will be plenty of amenities located nearby. Restaurants and shopping venues make it easy to draw in clients who may be in the neighborhood for a different reason yet find their way to your office. Also, you should be located close to restaurants and stores so that these amenities are available to your employees. The downtown Chicago office space leasing location ensures that you will have restaurants and stores galore at your doorstep, which is another great reason to choose Chicago commercial office space for lease.

Leasing a small office in Chicago or a large portion of a high rise building in the city is a great move, whichever route you choose. The commercial opportunities which go along with leasing office space in Chicago are priceless and will prove to be a good move to make when trying to find an office space lease location which will yield a large client base, ease of access and many options regarding office space types.

Leasing Medical Office Space And The Finer Points

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The business owner who leases medical office space has quite a bit more to think about when leasing this type of an office building over all others. Since the medical profession is unique in the office setting it needs and the work which is performed there, there are certain finer points which an individual must consider prior to leasing medical office space.

Medical Use Issues

Certain issues relating to usage of the leased office space will come into play, especially in the case of medical use. There will often be requirements relating to the disposal of hazardous waste materials, the proper office usages and how many individuals will be allowed in the office space at one time. The presence of different pieces of medical equipment may also have to be discussed so that the landlord is agreeable to the medical office space use and what services may be offered in the leased premises.

Americans with Disabilities Act (ADA) Issues

Since you will be operating a medical facility, you should make sure that your leased office premises meets the Americans with Disabilities Act (ADA) requirements and are accessible for patients and other individuals who visit your facility. This ADA issue should be addressed in the lease and it is quite important so be sure to pay close attention to this factor before you sign a lease for medical office space.

Exclusivity Provisions in the Lease

Many medical professionals like to be the only medical provider in the office building or commercial building. Therefore, it is a good idea to make sure there is an exclusivity provision in the lease which states that there will only be one medical office within the development or office building. This outlines the request of the office tenant and makes sure that there won’t be competition for the office tenant down the road with the landlord leasing out other office space in the building to another medical professional.

Clause in the Lease Which Pertains To Death and/or Disability of the Office Tenant

In the case of solo medical practitioners, some may wonder what would happen to their lease should there be death or disability during their lease term. A death and disability clause within the office space lease will help to ensure that the lease can be canceled or will expire upon such an occurrence and there will no longer be any requirement to pay rent on the lease. This may take some persistence on the part of the office space tenant but one should attempt to have such a clause included within the lease if at all possible.

Renting medical office space may take a different route than renting regular business office space. A tenant advisor can help with the process to make it go more smoothly. The office space tenant who is a medical practitioner must do everything possible to ensure that the office space which they lease is suitable for their medical practice needs and that the lease contains all of the necessary provisions which will benefit them and protect them in the long run.