How to find short term rental spaces
Published by Pall Mall Estates on 4th November 2019 -
Whether you’re a start-up wanting to agree on terms on your first office uni without potentially damaging long-term commitments or just requiring commercial space for a one-off project, short-term lets present the opportunity for both flexibility and freedom for you to take things at your own pace.
Even if you are a business seeking a short-term commercial property to act as a stopgap between two long-units, there are also options for you too. If you are eager to know how to best find short-term commercial space, have a read of the rest of this blog post to find out our best advice for businesses of all sizes and situations.
Consider subleasing business premises
One way for businesses to achieve flexible short-term business space is through subleasing. This involved leasing commercial premises from an existing tenant who no longer uses the unit, but still has a period left before their lease is officially up. This method can be cost-effective, as you essentially helping the existing tenant whilst you inevitably cover some or all of their rental costs before the lease expires.
However, the main problem with subleasing is that you have no say whether you can retain the space you use. Once the original tenant’s lease has expired, you will be required to move out, without the option for an appeal or an extension.
Co-working spaces are a growing trend for short-term work
If all you are looking for is a desk or two to work from for a limited period, maybe for a one-off project of some kind as a freelancer, a good option for you could be a co-working hub. For a decent monthly price, you would be given a dedicated office desk or space as well as access to the building’s facilities which often involves numerous features and amenities. Co-working spaces can be thought of as a plug-and-play option for freelancers and flexible contractors.
A positive of co-working spaces is that they offer a collaborative working environment. However, it is important to note that they can also be distracting and in turn, inefficient for those who prefer a more quiet, unobtrusive environment.
Above all else - use a commercial property agent that is flexible and accommodating
Even though a standard commercial lease will last between three and five years, with the right communication with your agent, it could be possible to agree on a lease that is not as long as this. Picking a commercial property agent that is amenable and readily available to be flexible towards lease periods and break clauses will give you a huge advantage in avoiding unnecessary long-term commitments.
At Pall Mall Estates, we adopt a customer-focused approach to commercial leasing, providing the space for businesses to thrive, regardless of how long they need it.
Our dedicated team of property professionals take the time to listen to the needs of each prospective tenant. With more than 5.5 million square feet of commercial property owned and managed by Pall Mall Estates, our team have the know-how and portfolio to recommend space available on short-term lease arrangements for everyone from small owner-managed businesses through to multi-national blue-chip organisations.
To discuss your short-term commercial letting requirements today call our friendly, experienced team on 020 8023 5900 or drop us a line using our online enquiry form.