Optimising property costs in times of economic stress: 5 effective strategies for businesses

Optimising property costs in times of economic stress: 5 effective strategies for businesses

The current economic climate, with rising energy prices and inflation, is driving companies to look for ways to optimise their property costs. Here are five effective strategies to reduce these costs and improve your company's profitability in tough times.

1. Renegotiate existing leases
   
   One of the first steps in optimising your property costs is to renegotiate your existing leases. Discuss with your landlord the possibility of reducing the rent, spreading the payments or obtaining concessions such as a rent-free period. Explain that these adjustments are essential for the survival of your business and can benefit the landlord in the long term by securing a stable tenant. We recommend you read our article 4 tips for renegotiating your lease: https://www.b2bestate.be/occupants-tenants/lease-renegotiation-4-lease-negotiation-tips
    
2. Rethinking workplace design
   
   The current crisis has accelerated the transition to more flexible working patterns, such as teleworking and shift work. Take this opportunity to rethink the design of your workspace to meet the needs of your employees. This can include creating shared workspaces, eliminating unused office space and reducing rented space, thereby reducing property costs. However, be aware of the disadvantages of teleworking.
    
3. Adopt coworking spaces
   
   Coworking spaces can provide a flexible and cost-effective solution for businesses looking for flexibility and adaptability. They allow you to rent only the space you need without necessarily making a long-term commitment. In addition, coworking spaces often include services such as access to meeting rooms, breakout rooms and office equipment, which can reduce the costs associated with these facilities. Some players in the sector offer multi-site contracts, allowing your teams to find office space closer to home. We are constantly analysing the coworking market and will be able to offer you the most effective solution to meet your needs. We recommend that you read our article on this subject: https://www.b2bestate.be/offices/is-coworking-great
    
4. Invest in energy efficiency
   
   Rising energy prices make it more important than ever to invest in energy efficiency. Improve the insulation of your premises, install more efficient heating and cooling systems and replace lighting with LED solutions. These measures will not only reduce your energy costs, but also improve the comfort of your employees and your image as an environmentally responsible company.
    
5. Buy your offices to beat inflation
   
   Does your company have the equity to cover 20-30% of the cost of a business property? Then now is the time to buy as prices are attractive.

We recommend that you read our article on buying to combat inflation: https://www.b2bestate.be/latest-news/news-an-antidote-to-inflation

There are grants from the Brussels Region to finance part of your property project: https://economie-emploi.brussels/prime-immobilier