How Not to Look For Executive Suites in NYC

Posted: Aug 27th, 2009/ Joe Lewis / Articlesbase 

Finding a suitable executive office suite in Manhattan could take considerable time and effort without the advantage of online websites. A quick check of building locations, types of Manhattan Business centers and pricing may be reviewed over the Internet allowing a potential resident to consider available properties. The need to drive all over town and waste precious time is no longer necessary. Before making a commitment to a specific Manhattan serviced office, it makes sense to evaluate all aspects of the rental agreement. Expensive mistakes are often avoided by considering a few key points about how the business will operate, the desired professional office space features and future growth potential of the company before.

The phrase "location, location, location" carries just as much meaning in choosing a suitable executive suite as it does in purchasing a residence. Picking the wrong location can be disastrous.  For example, a business that relies on walk-in clients or gains new customers living in the area needs to be located near that business potential. Similarly a company that works frequently with particular suppliers could save money and expedite transactions by locating close to their major supplier. Another consideration with location is proximity to public transportation. If the business owners and workers rely on taking a commuter train or bus to the office, choosing an inconvenient local could involve time missed from work and increased frustration levels. Likewise, locating near a convenient parking garage provides a safe and cost effective solution for workers who drive to the office. The business center location should provide a convenient and safe place to work, provide access to amenities such as restaurants and convenience stores and always be appropriate for the function of the business.

Many potential occupants make the mistake of evaluating the cost of renting private office space by square footage. Although using this standard of measure to calculate general building codes has been used in the past, the current trend in leasing revolves around a price per workstation. New York Executive suites are determined and priced according to the number of desks in the work area. By understanding this method of quoting office space for lease, a business will correctly assess the amount of needed work area based on the number of employees.

Another common mistake that occurs with leasing a furnished office in Manhattan is to allocate too much space for the size of the company. Planning for future growth is fine but wait until the additional workspace is actually needed before committing to adjacent space. Other renters may move in, the business structure may change or other situations may occur that will affect the need for more room. Paying too much for unneeded serviced office space can have a negative effect on the company budget.

Some potential occupants of a building neglect to ask the broker about possible leasing options. There may be special terms available, for instance, several months free with a full year lease. Because of the current slow economy and reduced pricing, leasing for a year or longer may be cost effective to protect from future increases. In addition to choosing the most appropriate office space, other important considerations include having the use of public facilities. Most businesses require large enough meeting rooms to accommodate customer presentations, employee meetings and private conferences. Manhattan executive suites that include public kitchens, lobbies and reception desks add appeal.

Choosing the optimum executive office suite means reviewing location options, evaluating business space requirements and negotiating the best terms and price. Moving is an expensive price to pay for the wrong decision.