By the end of this year, POGOs (Philippine Offshore Gaming Operators) will hit the one million-square-meter mark in terms of occupied office space in the country, according to an article published by the Inquirer. That is because currently as Colliers Philippines research manager Joey Roe Bondoc pointed out, POGOs take up 970,000 square meters of office space.
In the market intelligence report by Colliers International, it has been noted that “POGOs have liquid capital and tend to prioritize immediate take up of office space rather than negotiating on the rental rates. This has resulted in a sustained increase of office lease rates in locations that accommodate POGOs.”
With increasing rental rates and decreasing number of available spaces, making the right decision on which space to take becomes all the more crucial. What should you consider when securing commercial office space for your business then? Allow us to help.
This will dictate the choices you can take. When setting a budget, take into account not just the rental fees. Rather, you also need to account for the expense you will incur from the time you start the hunt for space until the moment everyone on your team has settled in the new office.
You can ask for professional assistance to determine the adequate square meters you will need for your business operations. It would be best to allot some extra space which can come in handy in the future.
Find an office space that is accessible to its future occupants. You can also consider the convenience of your current and potential clients by selecting a space located in an area that is accessible for commuters and otherwise. If it would help improve the efficiency of your business operations, look for space where your preferred amenities are located close by.
Before you sign the contract, make sure that clarify first who will be responsible for maintaining the cleanliness and orderliness of the common areas. Keep in mind that your business’s image is also tied to the physical appearance of your office.
Ask if you are allowed to renovate the space you will lease out. If so, ask if the lessor will require you to bring the space back to the state it was in when you moved in. It is similarly important to clarify if the additions you will bring to the new space will remain your property until after you leave.
Ask if you can renew your contract. If your lessor will not allow you to extend your stay, look at it as an advantage. Limitations concerning your contract renewal can present itself as flexibility for you to keep looking for a space that better suits your needs.
For more office space leasing Philippines tips, feel free to contact our team by phone (PH) +63 02-6571872 / (AU) +61 419 200 663 or email firstname.lastname@example.org. It would be our pressure to assist you on your journey towards finding a space where you can start or continue achieving greater success.