They’re often seasonal, such as holiday markets. Pop-ups are short-term retail businesses. In fact, many artists will be happy to use shared studio space, as long as they’re guaranteed private storage. Renting to artists, however, will give you longer leases for smaller amounts of space. In order to prevent photoshoots from conflicting, you’ll only be able to rent to one photographer at a time. Renting to photographers will require short, sometimes daily, rentals for single projects. It can also be perfect for artists who need a small studio area.Īre you thinking of renting out your commercial space to photographers or artists? Consider whether your building has the lighting, storage space, and polished look that these professionals need.Īdditionally, consider the return on investment ( ROI) of renting to photographers vs. Your empty office space could be ideal for photographers who need a professional space for a short-term shoot. Photographers and artists need large, expansive spaces to set up and store equipment, invite clients for consultations, and to produce their work. Pro-tip: Install property technology like the ButterflyMX keypad or video intercom to provide simple access to one-time and recurring visitors. Additionally, consider renting out conference room space to companies and executives for important meetings. So, offer your empty office space to corporations looking to host workshops or occasional in-person work sessions. Similarly, other businesses that have shifted to a fully remote workforce will also occasionally need office space. But they may still need a space to provide staff training or host large in-person meetings. Your tenants may not be bringing workers back to the office yet. How much time can you dedicate to each event to guarantee set-up and clean-up are possible?.What upgrades, if any, do you need to make the space appealing to potential customers?.What types of events would work best in your space?.So, partner with a local cleaning company to clean and disinfect your space before and after events.īut before advertising your empty office space as an event space, consider the following: This means the chances that they’re cleaned completely between events is low. However, these spaces have considerably higher foot traffic than your empty office does. Event space chains are still an option for hosting birthday parties, baby showers, or banquets. One byproduct of the pandemic is an increase in people looking for clean places to host events. Here are six business ideas for empty office spaces: Empty offices can be transformed into on-demand spaces for creatives, remote workers, or small businesses in your community. This means the real estate market will continue to be flooded with empty office space for rent.īut you don’t have to let your office get lost in this oversaturated market! Instead, you can rethink your marketing strategy and revamp your space to incentivize potential tenants to lease with you.Ħ ways to profit from your empty office spaceīefore hurrying to fill your empty office space with desks or selling to another business, remember that not every commercial space needs to be a traditional office. What’s more, these experts predict many occupied offices may slowly re-empty as employees demand to work remotely. Real estate experts at the Wharton School of Business predict many empty office spaces will remain empty for years to come. Two years after the pandemic initially emptied offices around the world, vacancy rates of commercial office spaces stand at 12.3%. Why empty office space is real estate’s newest market
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