You wanted to expand your business and so decided to lease a commercial space. But now, after a few months, you have some space left in your office, and you want to make the most of it. Another situation you may face is financial expenses, and you think breaking the existing lease will help you out from the situation!
There are many reasons business owners decide to sublease their commercial property. CLA Realtors - A commercial real estate Corpus Christi firm has complied a few reasons, pros, and cons of subleasing an office space.
When you plan to grow your business and enter into the ocean of commercial real estate lease, now you have leased out a space that is not in need for a while. Then, it is beneficial for some time to sublease the space.
Another situation, when your company unfortunately downsizes, and now you have a spare space that you can sublease.
Now you know in which situations you can lease your commercial property, let's get around with the advantages and disadvantages of subletting.
The most common reason people sublease their part of the office is to get some financial relaxation in their commercial lease.
Also, it makes no sense to pay for the square foot that your employees or your company are not using!
But, the coin has another side too! You can only sublet the office space with your landlord's approval. You need approval to sublease the specific part of the property.
Another thing to keep in mind while subletting your property is the hidden costs! When you sublet a part of your commercial property, the original tenant is responsible for paying the property's monthly rent. No matter how many sub-tenants are there.
Landlords mostly prefer to agree with the subletting office space, as they only have to deal with the original tenant.
Contact our realtors in Corpus Christi, Tx, to sublease your office space.