10 tips for returning to the office

commercial real estate Jul 03, 2020

You feel you can finally come back to work. As business owners, we understand how our industries work and how badly our businesses have been impacted due to lockdown. In times like these, you have to take matters into your own hands and consider implementing these options. Give your employees an office tour to reassure them of the new sanitary measures in place.

Better rent prices

Companies like JBG Smith are experiencing a drop in renting office prices. Businesses cannot afford to stay at the same prices they had before the lockdown. Brookfield is offering a $5 billion rescue fund to its tenants in the retail industry. Business owners should check with their brokers to see if they can have their rents slashed and enter into renegotiation rent meeting. Take a look at the other options in a popular commercial office portfolio.

Personal health care

Bring a packet of wet wipes with you to work, or antibacterial wipes instead. Bring a small hand-sized sanitizer so you can dry wash your hands whenever you need to. You could engage in office lease negotiations with your landlord, taking into account the extra money you have spent making the office safer. Take an office tour to see what other measures you can put in place such as sanitizer bottles and face mask dispensers.

Consider investing

Many businesses operating from commercial real estate are going back to work, they will need a little more space to house all their employees. We suggest investing in a commercial office portfolio. This will allow you to profit from the return to work across the country. Finding new offices won’t be difficult as the negative absorption rate has risen. Brush up on office lease negotiations techniques before you do.

Tidy up first

Covid-19 is known to cling onto surfaces, similar to the normal flu virus. Before you sit down to get to work, give your desk, chair, mouse and equipment a good once-over. Wipe everything down while wearing gloves and you should be good to go.

A better deal?

Office space real estate landlords will want to retain as many customers as they can. There’s already been a net negative absorption of office space in the first quarter. This should embolden you to engage in office lease negotiations with your landlord. Getting a more competitive price from a popular commercial office portfolio is an option. Speak with Boston Properties. After injecting $1.25 billion into it's holdings, you could benefit from the unsecured notes Boston Properties is releasing. Brookfield on the other hand is pumping $5 billion to save its retailers, something that Brookfield is doing for the long-term. JBG Smith could offer you an even better deal. With an extra $2 billion, Jbg Smith is set to encourage more businesses to return to work.

Be neighborly

If your workspace is in a commercial real estate building, you might be renting office space with another company. Try to be as neighborly as you can by verbally agreeing on good hygiene standards around shared office equipment like printers.

Further afield

Sadly, some companies will not survive this lockdown recession. That is an opportunity for you. Book an office tour to see which office space you can swallow up for your business. You should also renegotiate rent prices when you know there’s a better deal out there. The square foot price of renting office space is due to decrease in the upcoming months. Now is the time to take advantage of it. Finding new offices won’t be difficult when the lockdown lifts.

Review your schedule

Take a look at your new work calendar and review what can and can’t get accomplished in a timely manner. Prioritize certain things that will re-engage clients and spread the word around that you’re back in business.

Your office space situation

Consider finding new offices if you feel the need to as employees will be social distancing even while at work. This will lead to the need to speak with commercial real estate brokers. They could put you in touch with office space giants like Boston Properties.

Getting the all-clear

Invite working conditions inspectors to see your office. It would be brilliant for you to get the all-clear on the new safety standards and allow you to hire more employees. This, in turn, gives credence for you to be engaged in renegotiation rent prices with your landlord.

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