Score a Sweet Deal on Your Own Office Space

Working From Home Woes

Most freelance writers, web developers, internet marketers, and others have been drawn to the blissful appeal of a “Work From Home” lifestyle. What’s not to like? Waking up and working when you feel like it, wearing your pajamas all day, having a 5 second commute… to many that is the idea of living the dream. The reality: being productive as a work from home freelancer is a lot harder than you may think. Diciplining yourself to keep a regular schedule is tough. There is also the ever present tempation to snack, take a quick nap, or watch your favorite show, just for a few minutes. Have pets or kids? You’re probably pulling your hair out! Your children really want to spend time with you, and having to constantly explain that “For the last time, Mommy is working now, she CAN’T play with you…” which is often followed by sighs or tears. What about meeting clients? If you keep a tidy home office you’re maybe in good shape, but the average freelancer tends to have a messy desk and a cluttered living area. If you could just afford an office space in a professional setting, why wouldn’t you?

Office Space is cheaper than you think.

Many freelancers are under the impression that office space is expensive and a hassle to get set up. Neither of those common misconceptions are true. With the economy as it is, there are many vacancies in very nice office spaces in every major city in the US. Building owners are eager to get some if any money from their space, so you’re in a great position to score a good deal. Many commercial buildings are now subdividing their spaces for solo entrepreneurs and freelancers and leasing them monthly. 10-20 small clients can pay them more consistently than 1 big business that takes up an entire floor and could fail at any moment. The best place to start surveying pricing is on the Office/Commercial rentals section on Craigslist. Each local market is unique, but in most cities if you look hard you can probably find a great office for you for $150 to $300/month!

The Listing Price is not set in stone.

You may be surprised at the about of wiggle room for small commercial space there is. I was looking at a space offered at $350/month. I really wanted to keep my cost around $200, so my agent went ahead and made an offer for $200. Surprisingly, they accepted the offer!! Keep your eye peeled for deals out there on Craigslist and other sites, but understand that those prices are more flexible than you may assume.

5 tips for getting the best deal:

1. Use a commercial real estate agent. They cost you nothing, and can get you a much better deal. When I leased my first office, my agent was able to negotiate some amazing terms for me, and get 20% off the listing price! A great agent will know all of the good spaces in your city and where you can get the best deal, so you can lots of your own time doing research and making calls.
2. Don’t negotiate directly with the property manager or building owner. Again, use an agent. They will probably try to build in terms to your lease you may not find so agreeable, plus they will try to stick with their listing price. If this is your first time leasing commercial space you may be seen as “an easy mark”. If you don’t want to use a real estate agent, you can hire a real estate attorney to negotiate for you, but for cheap office space that is probably way overkill.
3. Go Month to Month. There is no need to sign a long term lease. Your freelance work probably fluctuates month to month and you may have to cut overhead some time quickly. Don’t get stuck with a year long lease for a space you may grow out of as well. For most small office space month to month leases are common.
4. Small is beautiful. If you’re like a typical freelancer, all you probably need to work is a laptop, desk, printer, and cell phone. 100 square feet is plenty. Sure, the 350 corner office with the view windows are tempting, but why not start small on your first leasing endeavor. You can always grow!
5. Consider your options. There are plenty of different options out there, don’t jump on the first office space you see. There are traditional office leases, executive suites, coworking offices, business incubators- each have their own business model, perks, and negatives to consider. You probably don’t need a receptionist when you’re getting started, but maybe an office with a shared conference room would be a useful ammenity.  Does the office include parking, is it extra, or street parking only? Parking tickets alone can make your office space not so cheap in a jiffy! Weigh your options carefully. Then pull the trigger.

When I stopped working from home and got my own space I became dramatically more productive. I get a solid day’s work in at the office, and then come home and just RELAX. I even met 2 of my best clients on my floor of my office building. It has truly paid for itself over and over again.