5 Benefits of Live-Work Lofts

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5 Benefits of Live-Work Lofts

Staff Writer · Oct 15, 2009

Live-work lofts can be a great solution for entrepreneurs who want to combine their business and living. Some home based businesses may require you to meet clients or sell inventory directly to customers. If that’s your situation, you might consider renting a live-work loft. Here are some key benefits to consider:

1. Separate Exits and Entrances

One benefit to a live-work loft is that you can still keep your business and personal living spaces separate. Customers never have to see your living space because they can exit or enter the bottom work space only. Keeping everything separate will help you to appear professional and give you privacy.

2. Affordable Office Space

Live-work lofts also make it affordable to have office space. Rather than paying two separate rent checks, you can save money by renting a live-work loft. Office space can be expensive to rent and you may not use it much in the beginning stages of your business. However, even if you don’t use your work space much, at least you’ll be living there and putting the space to use. You’ll also save yourself auto fuel, toll costs, parking and other travel expenses associated with commuting back and forth to an office.

3. Space for Employees

Your home office may be too small for employees. A live-work loft can help by providing enough work spaces for them. You may never open your doors to clients, but instead use it solely for your growing staff. The separate exits and entrances are important here as well. You don’t want employees to have access to your private living space for liability reasons. Rather than invest money in office space that you can’t afford yet, set them up in your loft. They’ll have access to you when they need help, and you can still work from home. 

4. Other Creative Professionals

You won’t be isolated when you live in a live-work loft. These are usually located in a community consisting of other professionals and multiple live-work units. This can be a huge benefit for your home business. You can network with these other business owners and professionals. There may be opportunities to market together or cross promote. You might even find a mentor, and get help for your business. At the very least, you can find someone to listen to your struggles or successes every once in a while. They may offer solutions or give you a shoulder to lean on when you need it most.

5. Additional Income

You may not have any interest in starting a business, but are looking for ways to make extra cash. A live-work loft can be an easy way to do just that. Business owners may want to rent from you because they can’t find affordable small office spaces.The separate exits and entrances make it possible for you to sublet the work space if your lease agreement allows. You have to be careful who you rent to and make sure that their business is appropriate for your loft, and that they are able to pay rent.

It may be difficult to find a live-work loft in your area, but these 5 benefits make them worth tracking down. This arrangement can help your business grow and help you better serve the community around you.

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