The Cost of Moving Office
Understanding the cost of moving office will go a long way in helping you plan a successful office move. It enables you to weigh up your options as to whether to relocate or stay in your current office, and helps you prepare a realistic Office Move Budget - that you can stick to!
This guide gives you a brief outline of some of the expected costs you are likely to incur when moving office, so you can start to get estimates and prepare an outline budget.
This will be an ongoing cost for the tenant, and paid on a monthly basis. Rent is usually calculated on a price per square foot basis.
Most leases will require the tenant to pay a security deposit on new lettings. The amount can vary depending on the length of the lease, but is usually anywhere between 3-12 months of rent. The rent is held by the Landlord, or their Rep, and handed back to the tenant when they vacate the premises.
A Real Estate Lawyer will ensure that the terms you have negotiated with the Landlord are accurately reflected within the lease. They'll offer invaluable legal advice to protect your business' interests and minimize liabilities. Their fees may vary from State to State but a brief phone call with them will give you an idea of costs.
This cost is usually borne by the tenant. It will protect you against any loss or damage, business interruption, public liability, employers liability and legal expenses.
Design & Build Out
The extent of your office design project will depend on the office space. It will encompass everything from space planning, architectural drawings and implementation, project management and the build out itself. When touring potential office space, ask an Office Design Company to accompany you on viewings as they will be able to give you an estimate on design costs.
If you are going to purchase new office furniture to match your new office design, ask your Office Design Company to help you source it. They will have supplier rates with furniture manufacturers that can save you money.
IT & Telecoms
You may need an IT Relocation Company to carry out the removal and set up of your PCs and phones to the new office. Additionally, you may need to purchase new technology equipment such as new business phones so that you can operate more efficiently in the new office.
Office Moving Company
You will need to hire an Office Moving Company to get your office belongings moved without any interruption to services. You can get at least 3 office moving quotes and compare which company best suits your budget and requirements.
Retrofit and Clean up
This involves putting right any alterations that you have done to your existing office, as most office leases stipulate that you return the property to its original condition at the end of the lease. Your office should be handed back to the landlord clean of any garbage or unwanted items.
Now that you have a better understanding of the cost of moving office, start to put together your budget with the FREE Office Move Budget Planner. Download it here.
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