This includes workstation furniture, meeting room furniture, and general office decor, as well as building a secure IT data network (data cabling, switches, routers), Wi-Fi, a telephone system, and any other required equipment (mail room, filing cabinets, etc.). One last thing to consider is “hidden” costs like electricity, water, HVAC, and CAM (common area maintenance) charges. This may be incremental to the monthly rent. Some lease agreements are renewable every one or two years, but three to five years is most common. And of course, there tend to be huge penalties for breaking a lease agreement prematurely.
While renting a traditional office space allows for great customization of your global headquarters, business owners must be aware of all the costs, time, and energy it takes to get a space fully operational office space.