COVID-19 has made a major impact on a global level, as business operations resumes, it is an opportunity to review, rethink, reposition and redesign our workplace.
In recent years, companies started to implement environmentally friendly and cost efficient designs. Promotion of staff interactions at office and team building as well as hot desking and sharing of work space was another important trend to maximise use of office space Now with COVID-19 pandemic, companies will have to prioritise:
Staff wellbeing and safety at office including social distancing
Sustainability for work from home strategies
Technology to support remote working
Companies must now make rapid decisions and changes, adapt and upgrade office infrastructure for their staff to work from home where possible in order to look after staff and sustain business operations and survive going forward. Some considerations companies must now take into account in their planning are:
Feedback from employees on working from home
Provide staff flexible work arrangements such as staggered work days/hours, work from home and hot desk arrangements at office
Technology to provide staff mobility and seamless connectivity between off site staff and office
Benefits in office cost savings
Maximise and leverage on market situation to negotiate with landlord new contract with improved terms
Companies are now facing a significant number of challenges when recovering from COVID-19, to transit to new normal to stay afloat and reduce real estate costs.
How VestAsia can help:
VestAsia is a conflict free tenant representation firm, dedicated to work with tenants, and provide flexible solutions on their existing lease or new office requirements, we offer complimentary tenancy agreement review and our services include:
Review existing tenancy agreement
Short term rent relief negotiation
Relief on strict payment terms
Renegotiate subletting terms
Early renewal at a lower rate
Relocation
Thorough understanding of new office requirement, conscious of long-term strategies for tenant
Locate suitable options in best interest of tenant
Comprehensive analysis of stay vs. relocate, inclusive of fit-out budget estimation
Early exit negotiation with existing landlord (if required)
Provide flexible strategies such as serviced office / coworking space for the interim period
Over the years of experience, we have encountered and overcame many challenges together with our tenants and clients, adding value to every tenant whilst building up our knowledge and experience to share and add value to you and your company in its efforts to restructure and reposition your real estate needs in this rapidly changing world to support the success of your business.
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