If you are looking into renting a commercial property to house your corporation, company, or business, you’ll likely run into two different types– executive suites or office spaces. On the outside, the two spaces are nearly identical. However, the difference lies in the rental and leasing agreements, which couldn’t be more different. In general, which one your company should be looking into depends on the nature and characteristics of your particular business model. Want to learn more about the differences between office spaces and executive office suites? Read this blog to find out.
Remember when you or someone you knew went to college or lived in a dorm or student apartment for a while? The dorms or student apartments were often pre-furnished and ready for students to inhabit immediately during the duration of the school year. When the school year is completed, most move out to live back at home with their parents or grow into a larger, private apartment with friends or a partner. Apply this concept to a business setting, and you’ve essentially got yourself an executive office suite! Executive office suites generally come pre-furnished and decorated for immediate use, and some higher-end ones also come with additional staff like a front desk attendant. However, due to this, rental costs are often high, so leases generally last for anywhere from six to eighteen months on average. This type of commercial real estate is perfect for any brand new company just finding their footing and also works great for companies that just need a temporary place to rent in a new area.
Office spaces are a much more traditional form of commercial real estate that has been around for ages. Essentially, office spaces are any suite or building that a company can take over. Office spaces are usually unfurnished and undecorated and designed for long-term use or rent. Leasing agreements for office spaces are usually good for a year or more at a time. One downside to renting office spaces is that very few amenities will be offered, so the company will have to pay for internet, electricity, and maintenance costs unless space itself is controlled by a management company. Office spaces are the premier choice for any larger company that needs an economical way to operate a lot of space. They are also recommended for companies that are very happy with the area they operate out of and are absolutely certain that they will not be moving their headquarters anytime soon.
Trust the Professionals at Clagett Enterprises for Your Realty Needs
If you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, and development and consulting, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook and Linkedin.