We live in amazing times. Our idea of the office is changing. For decades, generations even, the office was the place that everyone who you worked with went to. We sat at the same places, in the same building, and worked the same hours. Mobile technology has changed all that, and has allowed more and more people to work outside the traditional office. Your business is changing, and you may not need as many people at HQ as you once did. This is exciting, but comes with its own problems: what to do with your underused office space?
If you are renting, you might be able to move, but if you have owned an office you are faced with a few tough decisions. Do you sell and move out? Even if that is possible, it might not be your best bet. Renting or buying will be expensive as well, and right now, office space is hot. Demand for rental offices is high. One popular alternative is leveraging your empty space into profits by renting your extra room out to tenants. Using a hard-money cash-out re-fi loan from a trusted lender to get your office set up for attracting and retaining tenants can help you hold on to your building while making money off the rent.