Do you occasionally have an excess office (or two) that you would like to sublet either for future expansion for your own firm, or to bring synergistic new business and capabilities into your operation?
What is the easiest methods to subleasing these offices? How do you locate the right subtenant and not have wasted rent going down the drain if the office just sits empty?
The following are helpful ideas
- Prepare a flyer for your available space, showing the building photo, location, list amenities (i.e. is there an on-site deli, exercise facility, is it walking distance to BART, etc.)
- Ballpark pricing depending on what you include with the space. If the professional gets a 150-180 rsf office, use of lunchroom, conference room, receptionist, access at additional charge to secretarial services, copier, then for very nice Class A location you might charge $800-$1,200/month. Less for less amenities/quality
- Incenticize a staff person, offer them 50% of one months rent to go out on their own time, door-to-door, in local neighborhood handing out the flyers and following up on inquiries
- Have a contact software system set up with office manager names and mailing addresses, for all the law firms or CPA’s or financial planners in your area. When you think you may have a vacancy come up, hit a button, print out the labels and send out the mailer
- Post on Craigs List. Don’t advertise in local papers as too expensive and not cost effective
- Look for synergistic and correct-chemistry subtenants. Get new business in addition to rent!
If you have found this information useful or if you have other ideas you’d like to share, please e-mail me Jeffrey Weil, at Jeff.firstname.lastname@example.org
Thanks, and good luck!