CMPND- Info

The coworking space industry has seen tremendous growth in recent years and the trend is only going to continue upward as more and more workers move away from the traditional office. Coworking, simply refers to the space between home and work. Basically, it is a style of work that involves a shared working environment, often an office and an independent activity. CMPND-Office Space Rentals is one of the authority sites on this topic.

Through coworking spaces young entrepreneurs and freelancers who work alone can find a community of like-minded professionals to surround themselves with. It is the practice of sharing an office with random strangers rather than working by yourself at home.

Due to the intense interest in startups these days, a bunch of entrepreneurs and small businesses are looking to coworking facilities to save money by grabbing relatively inexpensive office space.

In addition to shared facilities like WiFi, fax, conference and meeting rooms, kitchen areas; there are plenty of benefits of coworking spaces for companies made of just two or three people in the business’s early phase, rather than renting a full office.

Here are some potential benefits of coworking spaces for young entrepreneurs, freelancers and small businesses:

You Get To Build Relationships And Meet Potential Clients

Coworking space provides an instant community for professionals. Coworking spaces give you the benefit of being around other professionals which can help generate business for you and acquire new clients.

You Get Credibility Along With A Proper Meeting Space

Let’s be honest, bringing your clients at Starbucks for a meeting once or twice is acceptable, but eventually you need to show them you are credible.

Belonging to a coworking space often includes access to conference rooms. This allows your business meetings to appear more credible, as meeting with your clients in a conference room is considerably more professional than a coffee shop.

The Office Set Up Can Give You Creative Energy

Coworking allows you to enjoy the ‘creative environment’ which generates a more authentic creative energy through a variety of people in a coworking space that you feel is totally organic rather than forced.

Conclusion

Clearly, there are some fantastic benefits to coworking spaces if you are looking for an affordable alternative to a private office, with stability, credibility and a community of like-minded professionals to work with. Last but not least, it is also a fantastic way to spend time around other entrepreneurs, freelancers and small business owners and get inspired to make your business even more successful.

CMPND- A Summary

Understanding Blend & Extend Leases

Business owners who are searching for office space for rent have quite a few options available to them. Long-term leases, annual leases and month-to-month options are the most common types of leases. With that said, most leases are longer-term in the 3-7 year range, and they reflect the market conditions that were in effect at the start of the lease term. So, what happens when a company’s need for office space changes midway into its lease term? or what happens when market conditions change dramatically, but the company still has considerable time left in its lease term? Is he stuck? The short answer is: not necessarily. A relatively new type of lease has emerged which business owners have found to be advantageous to their leasing situation, and that is the blend and extend lease. These leases relate to tenants and landlords who are in a current lease relationship, and want to extend the lease for an additional term while in the midst of their current lease. When a blend and extend lease is initiated, the parties also get to alter the terms of the lease which is an additional benefit to such a lease. The following will highlight more information regarding the blend and extend office lease and cite the various pros and cons of such an office space rental agreement. Get more informations of CMPND

What You Should Know About a Blend and Extend Lease

The first thing which commercial property owners and renters need to know about is that there must currently be a lease in place between the landlord and business owner tenant. As the purpose of a blend and extend lease is to get an early renewal with lease term changes it goes without saying that there must be an active lease agreement at the time in which a blend and extend lease is discussed.

You should also be aware of why a blend and extend commercial property lease is desirable. Commercial office leases are often lengthy in duration and this makes altering terms more difficult as when compared to an annual lease. With that said, landlords do not like to take chances of having their office space be empty once their current tenant’s lease expires. With a blend and extend lease, tenants benefit by negotiating for a more favorable monthly rent and lease terms and landlords benefit by ensuring that their current tenant remains in the premises for years to come.

The Pros of a Blend and Extend Office Lease

There are many benefits on both sides of the lease relationship associated with an office space blend and extend lease. The landlord favors a blend and extend lease as it guarantees them that their office space will not be vacant for long periods of time. In today’s economy, office rental demand is on shaky ground as are many other business-related aspects and the landlord can have peace of mind knowing that its tenant will be in the office space for years to come. This will increase the chances that the landlord can cover the mortgage payment every month and not have to worry about paying a real estate agent to find replacement tenants for them.

For the tenant, a blend and extend lease works in their favor by providing them with the opportunity to renegotiate the lease terms and oftentimes renew the lease with a less expensive monthly rent. The rent is not the only thing which the tenant can renegotiate in a this kind of lease. Rental abatement, options to renew, expand or contract and office space improvements are also negotiable points in the new and revised lease.

The Cons of a Blend and Extend Commercial Office Space Lease

As with any negotiations, there may be some less than favorable aspects of a blend and extend lease. With regard to the landlord, although the blend and extend lease provides the landlord with a longer lease term in which the tenant is required to stay in the building, the landlord may have to accept a lower monthly rent payment as well as agree to office improvements and other concessions. As for the tenant, it may receive a more favorable monthly rent under the blend and extend lease, but it will be locked in to the office space for a longer period of time and not be able to move from the office should it desire to do so a few years down the road.

In The End A Blend and Extend Lease Is a Good Option

When all is said and done, a blend and extend lease can often be a good option for both landlord and tenant to consider. If the landlord/tenant relationship is a good one and the office building location works well for the tenant, then there really is no reason to ignore the blend and extend lease option. Even with the few potential negatives listed above, the pros often times outweigh the cons of this type of lease. A blend and extend office lease ensures that the office property remains rented and the tenant gets a better deal than it had previously. It is easy to see why blend and extend leases are becoming much more common in the commercial real estate market-place.