When discussing the rental cost of a commercial property that will be utilized as office space, you will hear terms like rentable square footage and useful square footage. Instead of depending on a single rent rate, these square footage calculations are utilized to determine how much you’ll spend for your office space.
At the same time, the issue of shared area costs will be examined. In addition to paying their own rent, commercial tenants are also responsible for the upkeep of the common areas that they share with their neighbors. With a little preparation and the help of an experienced tenant representative, you should be able to figure out the intricacies in no time at all. Choosing office building space for rent in Cyberjaya is most essential there.
What does it mean to say that a certain amount of space is usable?
When determining how much space is really being used, the usable square feet will be derived from this value. Think of your usable square feet as the area of your single office if you are renting commercial real estate, such as in a large office complex.
What does it mean to say that a certain amount of space is “rentable”?
When you’re looking to rent an office, it’s important to know how many square feet of space you’ll have to work with.
Do you know how to use the Common Area Factor?
The term “common area factor” refers to the amount of space that all office tenants in a building have access to. Common spaces in an office building might contain things like the restrooms and cleaning closets, as well as places like the lobby and copy rooms. The floor size and the construction area of a structure are the two most critical measurements to consider. Floor common area refers to the total number of common areas on your floor, whereas building common area refers to the total number of common areas in the building. The total common area factor is derived when these two amounts are combined.
What is the sum total of all of these things?
New office space tenants may find it difficult to calculate the square footage figures. However, tenant representatives are well-versed in these kinds of calculations and are happy to help you in computing the data. Rentable square footage equals usable square footage multiplied by one plus the add-on percentage. It is possible to calculate the proportion of add-on space by multiplying the rentable space by the usable space by 1. It is possible to find out whether your prospective landlord uses an add-on percentage or a common area factor percentage simply by speaking with them.
Make sure to include in your present and future space requirements when signing a lease. It doesn’t matter whether your company now employs only three employees; if in the next year or two you intend on expanding your workforce by 20 percent, you’ll need to make the appropriate preparations. A six-month transfer into an area that’s already overrun with people is not a nice experience. As a way to save money on the costs of hiring more space than you really need, consider renting out a few offices to professionals in your area looking for flexible space.