Unused Office Space (what to do with it)
Due to the recent downturn in the economy, my company has found itself with a great deal of extra office space on its hands. This was purchased during the boom and there is very little we can do to get out of it save sub-leasing. Since quite a few companies are also in the same boat the market for sub-leasing is really weak. Has anyone in a similar situation come up with any creative solutions to this problem?
Allow non-profits to use it and right it off as a charitable deduction. I'm just yammering so this might be illegal but the revenue boys will certainly let you know.
How much is a lot?
Find a few people with an interesting idea for a startup and instead of investing in their company, give them office space in return for some shares.
Can I make a quick tax comment?
Good point Joel <g>
Give it to the emplyees as private rooms/hobby spaces/team spaces etc.
Just me (Sir to you)
Give everyone private offices.
Just an update to this thread. Giving everyone private offices would be nice, but the office space in question is across the country so there are no people in our company that could occupy it.
Put in a foozball table. Or a plasma screen TV like Joel is doing with his new place. (;
If you can't use the space yourself then I would suggest offering it to a start-up or a student group. Contact the local high school, put up a few fliers at a local college. At least someone can get some use out of it.
Partition it off and create virtual office space. A company does this by me. You rent "access to an office space" for meetings, etc. This way a remote team has a place to get together to work things out, but do not require office space on a continous basis. It also contains a photocopier, phones, a LAN, break room, etc.
Create a web site called "www.joelonofficespace.com".
Wheres the Beef?
wow...nice troll beef <g>
It seems like most of these ideas revolve around starting up a new business... The subletting busines, the renting business, the charity business...
> the office space in question is across the country so there are no people in our company that could occupy it.
Where is this office space located?
If it's a money issue then default on the lease and let the chips fall.
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