What It Costs to Maintain a Physical Office Space

There was something of a trend towards workplaces moving to more remote work before the pandemic, but it accelerated in a big way (dare we say, unprecedented) when the pandemic really hit. Now that things are starting to look like they could be getting back to normal, the question of whether or not it’s a good idea to return to physical office spaces has been the subject of debate all over. If you’re not sure whether a physical office space is worth it or not, looking at the cost of maintaining one could prove helpful.

Rent or Lease

Paying to rent or lease office space is a given for most businesses who have physical offices. Most don’t actually own the space. How much you pay for the space will depend on where you’re located. Average rates will vary from state to state, city to city, and even area to area within the same city. With average costs ranging between $5-$60 per square foot, you have some research to do when it comes to picking a location. Resist the temptation to go with the cheapest option. If it’s not in a good location, it’s not going to be worth the savings.

Utility Costs

Chances are that you’ll be shelling out money for the utilities you use in an office. Expect to pay for things like gas, electricity, water, garbage, and internet service. While it can seem like a lot, there are things you can potentially do to control those costs. Using energy efficient light bulbs and making sure you’re getting what you pay for with your internet service can help make sure your money goes to good use. Don’t forget the HVAC system too. You can improve efficiency by cleaning your air conditioning filters. Just make sure you’re free and clear to handle it yourself.

Cleaning Costs

No one wants to work in or visit an office that is dirty. Keeping a physical office space clean takes time and effort. Your best bet is likely going to be to hire a professional cleaning service to handle this for you, especially if the office space is significantly big. Alternatively, you could make it a part of your employee’s duties. If that’s the case, you’ll need to provide them with the tools and supplies to handle the task. Either way, you’re going to have to pay someone to do it. It’s just a matter of who does it and when.

It’s always helpful to do a cost analysis before making a business decision. The cost of renting or leasing space, utilities, and cleaning are just a few of the costs you’ll need to factor in when deciding whether it’s a good idea to use a physical office space or not. Remember, you can always lease a virtual office space if you decide that having one full-time isn’t something you want to deal with.

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