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You are looking for a new premise on rent for your small business. You understand that buying an office is a costly affair and means blocking a substantial portion of liquid cash which could otherwise be used for meeting other pressing needs of your business. Your need is urgent, and you want to accomplish your objective with minimal of cost. One strategy that you can pursue is to visit online property portals that are popular in your country, city and make searches that exclude brokers. For instance, you are fresh in Kolkata and want to rent an office within a week or two. Not a problem. Choose Google search engine by typing www.google.in (if you are from Australia, you type google.com.au). By default, Google opts the result for your region by itself and so you need not worry. You can just type www.google.com on the browser address bar. Next, type keywords like property portal, rent, office space, kolkata. You can obviously try other keywords based on your imagination and requirements.
You get ads (most probably on the top and/or sidebars) related with your search keywords by Google under heading:
Ads related to property portal, rent, office space, Kolkata.
There were three ads during a sample run (this will obviously change on different search instances):
These three portals have paid Google for the keywords entered by you and must have something relevant to your needs. You can also click on the organic search results (10 by default displayed on the first page). You are advised to click on the ads first because of the commercial nature of the real estate business under which almost all established players spend money on Google AdWords, a kind of paid advertising. Also, organic search results may take you to the web pages that has little to do with a property portal. The point stressed here is that organic search results give priority to contents. While that may be good for someone say willing to learn more about the future of property business, real estate portals tend to excel in providing a platform for bringing together buyers and sellers. Many such portals prefer to keep their websites brief and to the point. In such scenarios, contents posted will be limited and so there is little chance of them appearing on the top pages of organic search results by Google. Consumers too have a tendency to click on ads rather than links that appear on the organic search results if they have decided to buy a product. In case they want to do a research before buying, then obviously reverse would be applicable: ignoring ads and clicking links on search engine results (most probably of internet forums).
Coming to the main discussion, once inside the portal, choose the option which shows that it is the owner who has advertised which means no middleman involved. For instance, magicbricks.com
You are advised to sort results in terms of latest first. The reason is obviously competition. There will be many more like you with similar needs and so timing is important. Contact the owner directly over phone/email/SMS (phone is recommended) and set an appointment at the earliest. If you want to rent for the next three or four months (or rather not sure of the time duration), one month brokerage which appears to be a norm while dealing with a broker is quite a sum. This situation can be faced by someone new in a business with uncertain business prospects for the coming 12 months. By eliminating the middleman, you reduce around one month of rent which is really a smart saving under constraints.
These does not mean that brokers are a waste of expenditure. Being insiders, they can help you locate a property at location and price at amazing terms in addition to taking care of litigation needs. You need to do a cost-benefit analysis. If buying a property, yes do consider brokers as well.
Buying a new house like buying a new office means blocking a substantial portion of liquid cash which could otherwise be used for your business (if you are an entrepreneur) or invested in other asset classes like equity or even investing in learning. So, if you are young and willing to work hard making the best use of your skills, it appears you can postpone the decision of buying a house (Why Warren Buffett Didn’t Want to Buy a House to Live In) in the greater interest of your life’s pursuit by opting for a rented apartment.
Now, coming again to the topic regarding renting an office, an alternative solution is going for a workspace solution like the one pioneered by Regus that has a network of office, co-working and meeting spaces at 3000+ locations in 120 countries. At a time when you can be very productive working online from the comfort of your home, you can still have your business address at a city and location of your choice making you appear professional by opting for a virtual office address. The beauty of the plans by Regus is customization. You can start with the Mail Box Plan (Professional Address) that costs less than 1000 INR per month in our case and scale as per your need.
Here is the quotation received by us dated April 2, 2019 during our initial query:
As desired please find attached below proposal and reply:
If you give me confirmation within this week then I can offer you another 10% discounted price.
In Virtual office, we would provide with
- Business address –
- Professional mail handling service
- A local telephone numbers
- A live receptionist answering all your telephone calls.
- Access to 3000 lounges across the globe – can use for 10 days per centre per month.
- 2hrs community meeting room access, 3-4 seater meeting room – on fair usage policy
Virtual Office Plus*
- All above services
- 5 Days Private office access in a month – working days only, (Noc And Utility bill provided for company registrations)
12-month agreement, monthly price excluding GST tax 18% :
Agreement details :-
- The Agreement is auto generated – the invoices will have details including the GST.
- Invoices are charged monthly which is calculated based on a 30-day month
- All agreements end on the last calendar day of the month
- Auto Renew :- We have an auto-renewal policy – if you do not wish to renew the agreement then kindly Login to Myregus.com and place a request.
- The term of the agreement is the locking period – you may upgrade or transfer services for anotherRegus Centre.
- Billing cycle :- 25th of every month would be the deadline for the next month’s payment .
please click on the link to see address.
To generate the agreement – kindly help us with the below details.
. Company Name
- Name of Signing Authority:
- Contact No:
. Email address:
- Address (To be mentioned on online agreement):
- Start Date: –
- Payment mode:
Initial Payment: –
- 1-month advance rental plus 18% GST and One-month refundable deposit.
Documents required: –
Registered / Incorporated Company, then following documents.
- Certificate of Incorporation.
- Memorandum of Articleship.
- Pan card details.
- Firm / Proprietorship, then following documents.
- ID Proof.
- Address Proof.
- Pan card details.
Please feel free to reach out to me via WhatsApp +60142103161 or email for more clarification
Account Manager – India & Pakistan
India Hotline: 91 22 67869165
Sri Lanka Hotline: 94117555050
Bangladesh Hotline: 09611886767
Nepal Hotline: 9801208400
Email : email@example.com
Here is the quotation received for the physical office space dated June 21, 2019:
Our experience with Regus has been disappointing with inaccurate billing and poor followup when contacted for redressal. There appears to be a problem when hiring for local candidates, which in turn is reflected on the services offered. Since we went for mail inbox plan, it is manageable since no physical office rented despite the contract for 36 months. We would suggest doing Google Search and find the better ones.