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Joined 1 year ago
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Cake day: June 16th, 2023

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  • There are taxes, utilities which have to be paid just because one owns the property. Commercial taxes are many times 2-10 times more than residential.

    Those who have bought it would rather use it bcoz no one is buying it.

    Rental agreements are usually multi-year contracts with increasing rent. Breaking contracts are costlier than calling people back to the office.

    Edit: for those saying that rental agreements have already been paid, rental agreements don’t have an occupancy clause.

    Logic behind rental offices needing occupancy is that usually the agreements are for big spaces for 10-15 years. If you have 3000+ sqft office space kept closed gives a negative perception of the company going in loss or the office being closed.

    Public understood closed offices during the pandemic, but post that it harms the business. For a publicly traded company perception is everything.

    One can pay utilities for keeping the lights up without making people come to the office. However people coming in and out also gives an impression of work happening and normalisation of the companies.

    I run a small company with a 3000 sqft office space bought and paid for. For 6 months after the pandemic I did give an option for wfh. The word however spread that the office and the company has closed.

    In business perception is everything.