What are the costs of renting a commercial building, other than rent?.

Discussion in 'Askaboutbusiness' started by SDMXTWO, Jan 28, 2017.

  1. SDMXTWO

    SDMXTWO Registered User

    Posts:
    38
    Not sure where to put this. However I was with a friend also not working and we are looking at taking a large commercial building to use as a co work space. Apart from the initial rental cost, briefly what are the other charges we would be looking at ie, rates, how much to have the ESB and water turned on, is insurance needed etc. If we could get an idea we may be able to cover the cost of the lease and utilities. Basically what will it cost to turn the key and walk in on a Monday morning? all info accepted. Thanks.
     
  2. SDMXTWO

    SDMXTWO Registered User

    Posts:
    38
    Thanks.
     
  3. Raging Bull

    Raging Bull Frequent Poster

    Posts:
    244
    Rates Insurance public indemnity and electricity
     
  4. Bronte

    Bronte Frequent Poster

    Posts:
    11,824
    Well done you on taking this brave step. Can you give us an idea of the figures you have so far. I presume you are signing a lease? Have you read it?
     
  5. SDMXTWO

    SDMXTWO Registered User

    Posts:
    38
    I have'nt taken any steps as yet bar looking to see if it is totally prohibitive to actually start. I have a good idea, I have plenty of go, plenty of drive and much more. However last time i wanted to do something in my house the first request was for 1'200€ change of original use notice to put outside house.
     
  6. SDMXTWO

    SDMXTWO Registered User

    Posts:
    38
    Where do I find out those rates, I really need to start putting numbers together. Surely there is a list.
     
  7. SBarrett

    SBarrett Frequent Poster

    Posts:
    2,002
    As a co working space you will need:

    1. Excellent wifi
    2. Desks
    3. Chairs
    4. Meeting room - may have to partition off part of the building
    5. Cleaner (you may do this yourself)
    6. Printing facilities
    7. Probably an IT network of sorts
    You will also have to pay light, heat, rates, rent, alarm.


    Steven
    www.bluewaterfp.ie
     
    SDMXTWO likes this.
  8. Bronte

    Bronte Frequent Poster

    Posts:
    11,824
    What does this mean?

    You can ask the corporation how much the rates are, or the current owner. Or an auctioneer would have an idea.
     
  9. SDMXTWO

    SDMXTWO Registered User

    Posts:
    38
    I wanted to set up a business from my home and the amount of red tape, charges and potential charges put me off.
     
  10. Bronte

    Bronte Frequent Poster

    Posts:
    11,824
    Well sometimes it's better to ignore red tape, but that would be me. Tell me this, what was it exactly you were going to be doing from your home? My brother in law applied for planning for a work shed and was turned down, told me he was sorry ever to have done so and went right ahead and built it, that would be about 20 years ago now. And shed is still in situ.
     
  11. SDMXTWO

    SDMXTWO Registered User

    Posts:
    38
    Well without giving it away it was a very simple setup in a room in the house. I needed a grant to get started so I presume that is why there was so much red tape. It was a few years ago. It just amazed me that it was so complicated and such a waste of money. These things could be made so simple to try and encourage people to have home start up's. Not everyone wants to or can afford rent, rates and all the costs associated with starting. A few months grace to get you up and running would be a real eye opener for people looking to develop an idea.
     
  12. SDMXTWO

    SDMXTWO Registered User

    Posts:
    38
  13. thedaddyman

    thedaddyman Frequent Poster

    Posts:
    637
    Go and talk to your Local Enterprise Office, you'd be amazed the advice they can give you and the schemes and training that are available for anyone setting up a new business. Some of them also have incubator space which if you are starting up could be a low risk option before you jump into renting your own building
     
    SDMXTWO likes this.
  14. Bruce82

    Bruce82 New Member

    Posts:
    3
    I think the co-working space is a great idea and something that will definitely increase in popularity in the going years. Besides the usually insurances, rates etc mentioned above you will have to look at the services within the building, as these will have to be able to handle the capability you plan for. e.g if you have 20 desk spaces you will need to ensure there is enough power to supply these desks and all the IT equipment that the users will have, you will also need a secure network and wifi set up not to mention the ventilation and heating. If you are considering a building ensure you have a good M&E consultant review it to see what condition the services are in and what there capacity is. The last thing you need is customers complaining of headaches because there is not enough ventilation (just an example)