Business owners looking for office space in California will be happy to know that there is a wide variety of options when renting. But business owners are wondering how much it will cost. The prices of renting can vary on several factors. In this article, we will take a look at the average cost of renting office space based on the factors that should be considered in renting. Read on.
Common Factors That Affects The Cost Of Renting An Office Space In California
If you’re thinking of renting an office space in California, it’s important to understand the various factors that can affect the cost. Whether you’re looking for a small space or a large one, rental rates can vary widely depending on the city and neighborhood you choose. Here are some of the most common factors that affect rent prices:
The amount of office space and its location.
The average amount of office space in California is about $800 per square foot. The price can range from $500 to $1200 per square foot, depending on the location and type of property. For example, office space in San Francisco will be more expensive than office space in Sacramento. The type of property also affects the price, with a commercial office space costing more than a residential one.
The type of amenities that are included in the lease.
The type of amenities that are included in the lease can also affect the price. For example, a furnished office space with utilities and janitorial services will be more expensive than an unfurnished one.
Type of office space for rent.
The most common type of office space for rent is a shared office, which costs an average of $686 per month. For a more private option, consider renting a private office, which costs an average of $893 per month. If you need a larger space for your business, you can rent a whole floor of an office building, which costs an average of $1250 per month. Whatever your needs, there is sure to be an office space for rent in California that fits your budget.
The type of business being run from the office space.
The type of business being run from the office space can also affect the rent price. For example, a law firm will be charged a higher rate than a small startup company. This is because businesses that require more staff or have a higher volume of customers are seen as riskier to landlords.
The length of the lease.
The length of the lease is another factor that can affect the cost of renting an office space. For example, a short-term lease (less than a year) will usually be more expensive than a long-term lease (more than a year). This is because landlords view short-term leases as being riskier.
Office sharing and coworking.
If you’re looking for a flexible and cost-effective option, consider office sharing or coworking. Office sharing is when two or more businesses share an office space, while coworking is when individuals who work for different companies share an office space. Both options can save you money on rent and provide you with a collaborative environment.
Available parking spaces and/or public transportation options nearby.
If you’re looking for an office space to rent that has parking available, you can expect to pay a premium. The same goes for office spaces that are near public transportation options. This is because these types of locations are in high demand and landlords can charge more for them.
Whether or not utilities are included in the rent price.
Utilities can add a significant cost to your monthly rent, so it’s important to find out if they’re included in the price. Many office spaces to rent will include utilities in the base rent price, but some may charge extra for them. If they’re not, you’ll need to budget for them in addition to your rent payment.
Competition among other businesses in the area.
The amount of competition among other businesses in the area can also affect the cost of renting an office space. If there are a lot of businesses vying for office space in a particular area, landlords can charge more because they know that there is high demand.
So, what does it cost to rent an office space in California? The answer to that question can vary greatly depending on many factors. However, by understanding the most common influences on price, you’ll be able to make a more informed decision when searching for your ideal office space to rent. If you need help finding the right option for your business or have any other questions about renting office space in California, don’t hesitate to give us a call today. We would be happy to assist you.
Are You Ready to Find Your New Coworking Space for Your Remote Employees?
Victory Workspace has been serving professionals in the Walnut Creek, California area for over ten years, and even after the Covid 19 Shelter in Place is over we will be here for you. We offer a large variety of coworking spaces, short-term office rentals, meeting rooms, and welcoming event spaces with plenty of free parking for you or your guests. All that while providing our clients with daily opportunities to network with other business-minded professionals just like you! To learn more, set up your free tour, or inquire about which one of our services might be right for you, reach out to one of our amazing Community Guides at Victory Workspace for more information.