Chris Carmen / October 10, 2017
You are moving your company to bigger and better things but having to pack up your entire business and relocating it to another new place can be quite complex and stressful. What amount of investment should you expect when it comes time to move your office? There is no easy answer to this question as costs vary widely depending on different factors. Office relocation costs involve more than the expenses of moving furniture and equipment. The costs begin to accumulate before the moving day and even after you’ve settled. It’s therefore important to include your pre-move expenditure and the expenses of publicizing your move to the new space in order to estimate all of the relocation costs. You must also have a budget in place and calculate the cost of different elements involved in your move. Here are some of the important aspects that you should look into to help you estimate the cost of relocating your office.
Ancillary Lease expenses
When you rent a new space for your business, you will be required to make security deposits. This will incorporate refundable damage deposits and often an amount to cover your last month’s rent. Depending upon the existing condition of space, landlords will often contribute to the redesign of the office to make it fit your business’ requirements, but the tenant may have to contribute some of the funds needed to make the improvements. If the landlord will not contribute to refurbishing the space, you will be responsible for all of the cost associated with the refurbishment. This should include prepaid rent, security deposits, space redesign and/or refurbishment expenses and move-in expenses.
Contact your current service providers
Consider contacting utility companies and service providers well in advance in order to notify them of your plan to move. This will help smooth the process of having your appliances, office equipment, or services disconnected and if need be, reconnected in your new office. Your vendors can give you recommendations for other service providers in your new area. Send office service and equipment vendors, such as copier companies, a Request for Proposal (RFP) to plan, move, upgrade and install new office equipment and furnishings. And keep a contact list for current vendors, which you can go-to in the event something fails with the new vendors.
Get quotes from new vendors
You’ll need to talk with professionals in different fields to negotiate and determine any upfront fees, costs and deposits. These are individuals or companies that you’d want to contract for services in your new office space. These costs cover disconnection and connection fees, new equipment costs, plumbing services, remodeling, electrical costs and moving costs. Getting quotations from the service providers will help you estimate the cost of the different services that you will need to make your office relocation a success. Some of the new service providers that you should contact include:
- Moving companies
- Internet providers
- Phone system vendors and phone service companies
- IT firms to move the network
- Large-scale printer vendor
- Security companies
- Electrical contractors
- Cabling companies
- Janitorial services
- Office furniture companies
- Construction companies
- Architect and general contractors
In order to cut on costs and avoid major losses, you must plan well in advance. This involves having a budget that will help you have an idea of the approximate expenses of your office relocation. Use an Office Relocation Budget Template Calculator to get an idea about how much each element involved in the procedure will cost. To get help using this calculator to estimate your relocation and analysis that will simplify the whole process, contact us today and schedule an appointment with one of our tenant representative.
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