In a commercial location like Orlando it is a daunting task for any entrepreneur or enterprise and there are several aspects to consider. There are many aspirants looking for the best location for the office space in Orlando. One of the major aspects in selection of the office space Orlando and especially in downtown Orlando is the load factor in renting or leasing the space for office. The reason is that there are many offices that are located in one premise sharing many common spaces. It is necessary ensuring that the additional charges to be paid in equitable proportion.
Importance of Load Factor in Selecting Office Space Orlando
Why is the ‘load factor’ so important in selection of the office space downtown Orlando or even in any other part in Orlando? One of the reasons is that many offices are located within a common premise and at the same time, there are many services like security and utility services that are commonly used by multiple enterprises. Therefore it is absolutely necessary taking into consider the load factor so that there is equitable distribution of the expenses incurred by the landlord and it is not unjust or imbalanced in any way.
Understanding the Load Factor
In order to consider the ‘load factor’ it is necessary to understand what it actually means so that it can be considered in appropriate selection of Orlando office space. Basically the load factor is the method of calculating entire monthly rent costs by combining the usable area and service percentage out of the common area or common services used by multiple tenants together. Common spaces include restrooms, lobbies, stairwells, hallways, and elevators among others. Expenses incurred in maintaining all these by the landlord initially is later distributed among the tenants using them adding the costs to the base rent charged on each of them. Two reasons are there for considering the load factor. One of them is to see how much the charges relating to load factor enhances the base rent and the second is ensuring that there is no unjust distribution.
Load Factor increases the Rent Considerably
In lease or Renting of Office Space in Orlando determination of rent to be paid is a major factor. It is one of the major factors even while opting for even the shared or co-working office space in Orlando. This is especially important for the small and medium enterprises that are usually resource constrained. It is also necessary ensuring that the load factor is not unjustly tilted towards any particular tenant. Also, the tenant has to assess whether the addition of the load factor would carry the expenses beyond affordability limits so that the selection of office space becomes easier for them.
Bottom line of all these is that when the load factor is substantially equitably determined it may not affect the process of selecting the office rental Orlando. On the other hand if the determination is not proper it will certainly impact the process of choosing the office space. The reason is that even the apparently low rent may turn to higher groups with the addition of the load factor.
If you’ve found a perfect office space, it sits in the ideal neighborhood for your business, one with easy access to major roadways and a large amount of foot traffic.
Best of all, you can find a space with affordable monthly rent, one that fits comfortably within your budget.Mistake not to overlook the hidden costsThere are many things to be careful about so that the monthly rent will not be as low as it seem.
Also, take note that not all landlords or their agents will render this info upfront and as such they will not consider things like additional charges.
However, you must find out how you can avoid these unpleasant surprises.
# Security and maintenance costsMany people who rent office space in Orlando will imagine that costs to do with issues like safety and security of the property and its maintenance are the responsibility of the landlord.
Many of them get shocked when they realize that this is not the case of 2 or 3 months into their tenancy.
