If you have some extra space, whether in your business premises or at home, you can lease it out and make money in rent. Before you consider it, you should ensure that you have met the expectations which would make people want to use your space.
Requirements for Leasing out an Office
- Permission to rent: If you do not own the building, and you are thinking of subletting, you should first go through your contract to see if there is a clause which forbids you from leasing to other people. You should also consider having a discussion with the landlord if you think it will affect your relationship when they find out that you are leasing.
- Online connectivity: Most people who are in business, and are looking for a place to work, will tell you that having a stable internet connection is one of their main priorities. You should ensure the space you are leasing has fast and secure internet access. To ensure that they are safe when they are online, you should consider investing in a reliable VPN, that allows them to work without feeling vulnerable.
- Basic amenities: Other than stable internet, you should ensure that you have provided the necessary facilities such as toilets, a clean working environment, noise-free work stations and other items which will make the tenant feel comfortable and want to renew their lease. Think of what you would want if you were looking for an office and give it to your tenants.
- Affordable/reasonable rent: When putting a price tag on your lease, you should make a comparison on what other people are asking so that you do not end up overcharging your tenants. Your rent should be based on several factors, including the space you are providing, the amenities, and the expectations they have of you, among other factors.