Make the Most of Your Real Estate

published Jan 09, 2020
1 min read


How Businesses Can Save Money on Their Commercial Property

A market that continues to defy Brexit and the rise of digital technologies, commercial property remains a viable investment for many businesses thanks to its practicality. After all, even online businesses need somewhere to store and produce their physical goods.

Whether renting or buying a property, there are many ways that companies can capitalise on their investment and really make the most out of every inch of their base.

For those business leaders that want to save money and get the best commercial property possible, here are our top tips.

Think about the Future

The biggest and most important decision any company needs to make when trying to save money on their commercial property is whether to rent their space or purchase it outright. Buying a commercial property will be more cost-effective in the long-term, especially if your firm intends on staying in the same property for a long time, but it is an expensive initial outlay. Take the time to decide whether or not your company is planning on staying in the same space or if you’ll need to expand as you grow, so that you make the right choice for your firm.

Find an Experienced Insurance Broker

Commercial property insurance can be a complicated business, but you can make it easier by working with a supportive company that can guide you through everything you need to know and help you to select the policy that’s best for you. Companies like Crosby Insurance have the expertise and knowledge to help you to take out a cost-effective insurance policy that will keep your property protected. They will ensure that you are aware of a variety of issues that may arise which is handy to ensure you are protected against anything that may come your way.

Rent Individual Car Parking Spaces

One of the biggest concerns for many companies when exploring a new property is the parking options for staff and visitors. Rather than investing a lot of money in an expansive car park that your firm doesn’t need at all times, consider renting individual car parking spaces on land near your new property. You’ll be able to rent more spaces as you need them or get rid of some if they stop being used.

Use External Storage Options

If your company needs additional storage space for part of the year, then consider renting this out separately rather than moving your entire operation into a larger property. Like renting out parking spaces as and when you need them, external storage options will offer you the chance to rent storage space when you need it and then not pay for it when you don’t require it. This approach will save your firm money, time and the effort of maintaining a larger building.

Store Your Data on the Cloud

Data storage solutions such as server rooms can take up a lot of space and cost a lot of money to maintain, so consider moving your data onto the Cloud. This approach will save you space and money, as well as offering many additional benefits such as increased security.

Get Support in Leaving Your Property

Whenever your firm has to leave your commercial property, make sure that you work with an experienced team of estate agents who can take care of every aspect of your exit. From discussing it with solicitors to handling the handover, they will be able to make the process as smooth as possible and save your team from making costly mistakes.

Commercial buildings can be expensive, both to rent or to purchase outright, but however companies choose to invest in their property, they need to make sure that they make the most out of their money. Follow these tips to capitalise on your space and really make the most out of it.