10 Tips to Lower Office Costs

1. Selective Layoffs

Layoffs of non-key or essential employees, while at the same time asking the rest of the team to handle the extra load, if there is any.

2. Subleases

It is never the ideal situation if you plan on occupying a portion of your space and subleasing the remainder. Most tenants would prefer not to share space with another tenant if they do not need to. Securty, privacy, pilferage issues and many other concerns need to be addressed prior to making the decision to sublease.

3. Rental Abatement / Free Rent

4. Lower Market Lease Rates

5. Fixed Operating expense pass-through or none at all

6. Leasing incentives for procuring brokers

7. Fee’s to be spent on tenant improvements within the space

8. Shorter Term Leases

The benefits include lower long-term risk for a lease obligation should the market conditions continue to worsen and subsequently force them out of business

9. Scrutinizing their expenses Line Item to Line Item

It is reducing expenses in each and every area of the income statement by 20%.

10. Full time work to Part Time work

Taking a survey to see how many employee’s prefer part time work over full time work.

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