How can empty conference room be used for renting?

Your office employees might find it difficult to conduct meetings when they are urgently in need of one. But when we walk around the office you might notice the less amount of rooms available in the office or the conference rooms might be too small for the meetings to be held. So in the end the problem isn’t the conference rooms but the poor space and the size of it. In addition to this, poor spacing and negative experience to the employees can also contribute to a lot of wasted money.

Related Topic: How can empty shops be used for renting?

To understand how to calculate budget to look out for spaces for conference rooms and meetings, the office has to calculate the cost of just one empty conference space where important meetings can be held for example, meetings with the clients etc. There are many empty office spaces which are filled with desks, and which can be used for renting and meeting. For owners, empty office space can be a blessing in blessing. This allows one to introduce employees to new workplace concepts with better concentration. Here are 5 creative ways empty office space can be used for renting which can be used for usable and purposeful work areas.

Create multipurpose area

The easy way to turn an empty space into a purposeful one is to understand the different possibilities of the usage of the empty office space. With many potential options available, creating a multi-purpose area is a catchball.

Make the empty office space a huge demand for different uses for example, conducting conference meetings, projects, guest speaking rooms, client meetings etc. For enclosed space create a huge lounge with a couch and some extra chairs. You can also perform presentations or can be in a meeting area.

The empty space is just not valuable to you. If you build awareness of it, employees can make best use of it for your business. Other unused spaces can give a variety of spaces.

Decide on long term and short term renting

The average lease on office space in India for renting is for a pretty long time. Shared office spaces can be one of the most intelligent options for co-working spaces if you need a few more desks for the foreseeable future. These both options offer flexibility and seats at a cheap standard rate.

Stay online

When you are travelling outside and you see banners stating to lease an empty office space with a phone number. But the conference space is near to your place you leave it wont hurt for you to give it a call and know more about the empty conference space there?

Calling the number in the sign is usually a waste of time. During the whole journey you are awkward while you are signing the empty office lease.

Not only for space owners, but for the tenants the space can be useful for them. There are many online sites wherein you can find empty conference spaces easily. Online platforms can give you information in detail about the empty space and can give different options according to your needs.

Make an affordable offer on affordable office space

If you find an office space but you aren’t sure it is the one, then don’t waste your time by making an offer for it. Doing this would include in the non-binding process. But even after making an offer, you can withdraw it anytime without any penalty for low risk that can be rewarding.

When you make more offers on the available empty space, it is more likely that you will get that empty space even if it wasn’t your first choice. In commercial real estate it is likely that the most sure deal can fall out from the hand.

Be patient as the lease signing approaches

Unlike for residential leases, commercial leases can take more time than required and to deal with it, it can take more time and patience for it. Every commercial lease has a unique agreement but there are different types of commercial leases that are available in the market in the process of this.

August 19, 2021 0

Short term renting benefits

Many people might look to rent their empty spaces for a short period. But there might be some people who are unaware of the benefits of short-term renting, not just for space owners but also for tenants. So are you considering short-term rental? We can think of some of the great reasons to test this. Many advantages that can be kept in mind. Let’s get those all on the table. The pros of the short-term renting platform.

Flexibility– You can choose days, weeks, and months to rent a space. There are many options to benefit from space while you can enjoy and one of the options would be, while you are traveling at the drop of a hat, you can make money while you are gone.

Give more privacy and more space than traditional hotels- Short-term renting can be considered perfect for families. There are times that families need a short-term vacation plan for weekends. Renting a villa is one of the best options for earning extra revenue.

Brings more cash than long-term renting- The math for it is pretty easy, 1 vacation per week would cost 15,000 Vs 15,000 a month to rent for a year. It will help you earn more in a week than what you will earn in a whole year.

The deductions– There are many common deductions for rental owners. The cleaning and maintenance that comes in the picture. Hiring a full-time housekeeper would also include it. Maintenance, Insurance, Utilities are just among them. With all these deductions you could record a whole lot of loss and avoid taxes altogether.

Tax breaks- The best home-related tax breaks go to short-term renting owners. Before you get into the tax detail you should know the tax laws of your state.

Wear and tear on the property- When renters are going in and out frequently, there can be small repairs and damages that can be taken care of before they turn into big problems.

Social benefits- There are many people and opportunities out there that space can be used for social benefits too. One of such things includes travel and tourism. Your next short-term rental acquaintances can turn into lifelong friendships.

Earning potential- Short-term renting can be extremely profitable as a property manager you can keep changing the price as you see fit depending on the demand. If there is a music festival or a popular sporting event in the town you can easily double or triple your regular price in that period. Travelers are expected to pay premium prices over holidays, special events, and in the high season, so this period can be considered a jackpot for you as you can make the bulk of your income during these times.

Contribution to the sharing economy– We hear a lot these days about sharing economy and its positive effects on society. By giving the property to short-term vacations, you are showing that you are an innovator who would help you contribute to the modern way of living and thinking.

Property management– Advancements in technology such as smart apps and smart locks have made it easier to manage vacation rentals even if you are not living nearby.

July 2, 2021 0

SHORT TERM RENTING Vs. LONG TERM RENTING (PROS & CONS)

When investing in real estate for rental purposes, owners should decide what they want to do with their space. Many factors can help owners and managers to estimate whether they should choose to hire long-term or short-term. Most of the time, this decision is easily made and depends on the nature of your own space and what you want to achieve. However there are a few advantages and disadvantages to these two methods of hiring let’s explain the advantages and disadvantages of the two:

What is a temporary or short term rental?

Before anything else, let’s get acquainted with the definition of temporary leases. Time rental leases are short-term leases. Depending on the owner, rental property and many other items, these buildings are rented weekly or nightly. Many short-term rental owners rent their property for most of the year when they do not use it themselves; it has become a popular alternative to many problems.

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Benefits of the Short term rental :

While long-term employment offers consistent income and is generally easier to manage, there are several benefits to considering short-term renting instead:

1. High rental income
Not only can you set the changing prices depending on your season high and low, but you can also set the duration of your most popular time of the year to ensure maximum profit.

2. More flexibility
For owners who rent their properties for a short period of time, there are many more variables involved for you and your own. You can directly block calendar times that you want to keep free for personal use without disturbing anyone.

3. Minor aging
Typically, the duration of a rental contract ranges from a few days to a few weeks. Welcoming people with short bursts like these ensures that person your property simply uses your property and do not redesign it.

4. Tax breaks and deductions
Many rental owners are entitled to certain tax breaks or even withholding costs because property is not permitted for a long time. Be sure to check your local laws and regulations in this regard.

5. Contribute to a sharing economy
We hear a lot these days about the economy being shared and its positive effects on the wider community. By allowing your space to be shortly used by others, you show that you are a designer who helps to contribute to this modern way of life and thinking.

6. Changing the management of assets
Advances in technology, such as smart apps or smart locks, have made it easier to manage rentals or made the process easier through websites like www.myrsa.in .

Challenges of short-term rentals
When managing temporary employment, you will need to consider local laws, property maintenance and slower periods.

1. More maintenance and development
The owner needs to keep inventory safe or he may receive negative updates. This includes more than just regular repairs, such as plumbing and paint repairs, as well as technological changes and modern inventions. You will need to renew your rental services more often to include all essentials and it can come at a higher price.

2. Guaranteed income
One setback for short-term rental property owners is no guaranteed income eg no fixed or booked leases. Sometimes there is no rent for one month or so.

3. Competition from surrounding areas
Unlike the market, when apartments and houses are full of interest by tenants, the temporary market sees many competitors. This can put some owners at a disadvantage as such competition for rent may be rampant in this area.

4. There are many things you can do
The owners of temporary rental properties have to take care of their property so there are a lot of things to take care of.

What is Long-term rental?

Unlike temporary rental, long-term rental usually refers to what is rented for a period of one month or more. Whether it’s a full space or just one room for rent, typically, tenants pay the landlord each month and usually take care of other expenses such as state debt.

Benefits of Long-term rental:

There are certain benefits to investing in long-term properties; Here are a few major benefits:
1. Fixed income
One of the key benefits of renting your property for a long time is knowing that you have a monthly rental benefit you can rely on. This can help relieve stress for new homeowners who have many other expenses that they have to worry about. In addition, long-term employers are often obliged to pay monthly and three-month utility bills for electricity, gas, water and even the internet.

2. Easy to manage
Whether you choose to hire a local manager or manage the property yourself, it will require less time than a temporary hire. You do not need to promote the rental property so much, deal with frequent outages or make sure it is ready for rent.

3. Low profit
If you hire for a long time, you will find that you will be less anxious when it comes to administrative tasks such as paperwork, key allocation, and marketing. Once your employer has signed a lease, you know how long (somewhat) you can expect when they will stay. You just need to worry about filling in the blanks and if you know it will come out.

4. There is no need to provide
Some (though not all) long-term tenants brought their furniture to the tow. This can make the decision easier if you are considering renting your furniture without furniture. Not only will you have a guaranteed monthly rental income coming in, but you will also not need to take care of new home furnishings.

6. You can charge a higher deposit
If you are worried about good rental details, such as insurance, lease agreements and security fees, then there is no need to panic. With long-term rental, you can usually charge a high security deposit, which will be refunded to the visitor at the end of the lease unless the property is likely to be damaged. These funds can give owners more peace of mind when it comes to renting their property.

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Challenges to long-term vacation rentals
Some of the challenges that need to be addressed are low income levels and high levels of human settlements. Other negatives include:

1. Low lead power
Long-term rental properties are usually reduced by 40 percent. Charging at premium rates is not always possible.

2. The owner has little flexibility
Unfortunately, in the world of long-term employment, there is no automatic escape from the contract. If you have an employer in your home, you cannot ask them to leave for the weekend here and there.

3. Minimal control of assets
Most of the time, there is nothing wrong with hiring. There is, however, a big difference between short-term and long-term options when it comes to evaluating your assets.With temporary rental, the owners benefit from being able to inspect the property within the rental, to check that everything is in order and that nothing is broken or damaged. With long-term employment, however, it is very difficult. You will need to provide great notice before passing to get regular maintenance and safety checks.

4. Restrictions in your area / city
Depending on the type of property and location, there will be different rules, restrictions and licenses that you need to deal with before renting out for a long time, which can be more difficult and expensive than renting a temporary one.

5. A long process of finding the right employer
When someone is going to stay in your home for a long time, you want to make sure it fits well. But if you look at the time you will spend testing and evaluating indicators before making a deal, this can soon become a very long process. On the contrary, temporary renting is usually a much simpler process – especially with tools like quick bookings.

April 21, 2021 0

Petrol Pumps: Your One-Stop Destination to Advertise

No matter where you live, transportation is a very important aspect of your life.People usually travel depending on their convenience and how much they want to spend. After the COVID-19 pandemic, everyone has been wanting to buy their cars so that they can travel safely without the hassles of travelling in crowded public transports. Almost every car runs on fossil fuels like petrol and diesel. Depending on how much your regular commute is, you visit a gas station to refill your fuel tank. For some people, a gas station would just be the place where they can get their tank
full and leave. But automobile enthusiasts always look for great products that can supplement their driving experience.

Many brands of synthetic oils, batteries and local garages advertise at gas stations as that’s a convenient place to gain the attention of vehicle owners. Brands also set up kiosks and pop-up stores at gas stations for attracting consumers to buy products quickly. It not only helps brands to make a quick sale, but it helps them in promoting their new product line ups. Various foreign brands have entered the Indian market through marketing at gas stations as their first move.

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Brands like Shell, Castrol, CEAT tires and Exide Batteries partner with
companies like Hindustan Petroleum and Bharat Petroleum to maintain their brand presence all across India by advertising at gas stations by setting up pop up stores and kiosks. They also have sales representatives who are continuously on their toes to cater to customers so that sales can be fast.

All of this is possible only because gas stations rent out spaces to brands
temporarily for advertisements. This helps them in making extra money and also helps brands to reach out to their target audience whether it’s a long road trip, a local commute or a remote area.But marketing options might be a hit or miss due to some factors which include not finding gas stations that have empty spaces for rent temporarily. Space is always available, but what if you had access to all these temporary spaces at gas stations at your fingertips? Well, you’re in luck, as we know just the thing you need.

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Myrsa is a platform where you can find thousands of temporary spaces at different locations according to your convenience, whether it’s a gas station or a parking lot, get a temporary space where you want and when you want. All of this at your fingertips seems like a dream, right? Your search ends right here.
Log on to www.myrsa.in and know how easy it is to get a temporary space hasslefree.

March 4, 2021 0

How businesses survive during pandemic using temporary spaces?

The pandemic has tested human patience to its core. With never-ending lockdowns, restrictions and curfews we have learned to embrace life as it is and work towards building it into a good one. We were safe in our homes but haven’t we ever wondered how hard the businesses were hit due to this?But isn’t it fascinating at the same that there are so many new businesses popping up during a time like this?

More and more people have started accepting this as the new “normal” and moved on. There are so many creative new ideas that have grown so much in this period and that too from the comfort of their own homes. These businesses are now at a small scale and a local level but, once they grow, they’ll need to move out of their houses and look for bigger and better places.

The businesses which have recently emerged might surprise us at first but they’re making profits and people are choosing them over the other conventional ideas. Since the virus has forced us to hide under a mask, a business that popped up is that of custom-made masks which makes sense right now.

People love to flaunt their designs which is making this quirky idea work.
Local businesses might prefer expanding into their city first as there is a sense of comfort as they know their areas well. For this, temporary spaces are the best solution. A business that once started from one room can expand into a flat and slowly move towards renting big spaces and in many later stages expand to other cities as well.

With the rise in the gig economy and a big hit due to the pandemic, more and more people are shifting towards freelancing. In some types of freelance jobs, you need a workspace of your own but with a crowded or small house, a workplace of your own might seem like a dream, but it is possible to own a workplace by renting a temporary space at your convenience. Who would’ve thought about that right?

Another rapidly growing business is a home run bakery. More and more people have started baking and it’s growing at a rate which no one ever imagined. Soon these great bakers will need some space with the resources to fulfill the blooming orders. This is where temporary space can prove to be very useful as they can store all their products as well as expand.

So, another question that comes into our minds is how would one avoid the hassle of long drawn contracts and lease contracts? The answer to this question is Myrsa. Sounds weird right?

With Myrsa you can avoid the nuisance of lease and rent a space temporarily and grow. With just a few steps to follow you can build a business from scratch on your own! So, what are you waiting for? Get, set,
book!

February 20, 2021 0

How can Short-term Renting benefit you?

If your business needs a short-term rental or a smaller space, you have your work cut out for you. Typically, the minimum lease term for a commercial real estate renting is three years. Nevertheless, this does not work for every type of business. When it comes to startups or small companies, flexibility is key as they establish themselves within the market. Additionally, these types of businesses don’t usually need a lot of space, so they are often looking for a space that is smaller. This can be hard to come by, as most rentable space is a minimum of 1,000 square feet.

THE PROBLEM

When these types of businesses start looking for office space to rent, they often find that they have limited options. In general, landlords prefer long-term rents, because month-to-month or year-long rents are not to their advantage. Finding a short-term space for your business requires extensive searching, and you may not find anything that meets your needs.

Even if you do find a landlord willing to rent a space to you, you are at a distinct disadvantage during tenant negotiations. You have no leverage, and therefore, may have to take a higher rent than your neighbours. Not only that, once your lease is up, you are particularly vulnerable to a spike in rent if you want to renew your lease.

Related Post: Give your empty retail space for rent!

THE SOLUTION

If you are looking for a smaller renting space or a more flexible renting, it is wise to use our online platform. We can help you find a commercial space that suits your needs.

Be in the market where you want to be…Locally, Regionally, Nationally!

If you are looking for a temporary space for a day, week, month or year.

We can help. Myrsa’s portfolio of outdoor shopping locations provides advantageous visibility in prime markets across the country. Whether you are looking for temporary renting or an advertising opportunity, we have the perfect location for your business.

Reach and surpass your business goals:

Expand and test a market
Build a customer base
Transition into a long-term tenant

Advantages to a short-term lease:

One day to six-month terms
Competitive rates
Minimal risk
No long-term commitments
Limited start-up costs

Available opportunities:

Temporary inline space (pop-up shops and offices):

Seasonal retail stores
Outlet & Overstock stores
Boutiques
Consignment shops
Office spaces

Parking lot space:

Tent sales
Fireworks sales
Christmas tree sales
Garden centres

Events:

Art shows
Children’s events
Product sampling & tastings
Farmers Markets
Holiday-themed events
Craft Fairs

Signage & Sponsorships:

Banner/light pole ads
Backlit signs
Window Clings
Billboards
Event & seasonal sponsorships

Environmental & Wireless technology:

Solar panels
Small cells
Cell towers
Donation Bins
Recycling Bins

All short-term deals require the following:

A license agreement signed by both parties
A Certificate of Insurance
A security deposit
Professionally printed signage

Advantages of a Short-Term Commercial Real Estate Renting

Flexibility – For startup businesses that are growing quickly you never know if and when you will need more or less space. If you decide you don’t like a specific location or space or you get that big deal and need to hire 30 more people you can easily pick up and relocate with a short-term lease.
Contingency – It’s a known fact that most companies fail within the first 12-24 months of being in business. Having a short-term rent will give you the ability to cut your losses and not have to pay the landlord a large sum of money to cancel the lease.

As you can see there are many Pros to signing short-term commercial leases. If you are not sure you want to remain in the same location or expect future growth or are just unsure about the future of the company then a short-term renting might be the best option. If your business is more established, financially stable, and not expecting to expand rapidly then you are better suited for a long-term commercial real estate lease.

In the meantime, if you are looking for commercial real estate then log on to Myrsa and start renting.

December 1, 2018 0

Tag: short term renting