Virtual work setups are convenient, but there are times when you must meet in person. Perhaps you want to sign a contract, have an important team discussion, or need face-to-face collaboration.
Whichever the reason for an in-person meeting is, renting a meeting space is your best bet. The idea is convenient, as you don’t need to set up long-term office space. You also keep things professional, instead of meeting at a coffee shop or a residential home.
However, most individuals shy away from renting a meeting space because they automatically assume it’s expensive. The truth is different spaces come at varying costs, so you don’t have to break the bank to rent the perfect space. Discover some factors that affect the cost of renting a meeting room.
The Size of the Room
Size is the primary factor that affects the cost of a meeting room. Ideally, the more individuals you wish to include in the meeting, the bigger the space you’ll need, meaning it will be more expensive. Remember that the size of the space you rent should match its purpose. Don’t pay for a large room when you only need a small one.
Size is not always the main concern when renting a meeting space—convenience and location may also be factors. For instance, some venues are easily accessible and close to public transportation, while others may require a bit of a drive. In that case, even a small meeting space in an easily accessible area may be costlier than a large space in a more remote area.
When deciding the ideal location, consider how far away the venue is from most of your attendees. Also, make sure that any special needs of your attendees are met—for example, if you’re expecting people with reduced mobility, then accessibility must be part of your considerations.
Some rental rooms offer luxurious amenities such as catering services, projectors, parking and wireless internet, while others offer basic amenities such as chairs and tables. The cost of the rental space usually reflects the level of services you will get.
If you are on a tight budget, you can go for a simple space. But if your main aim is to impress your clients, pay more for a higher-quality space with added amenities.
The Type of Room
You have different meeting rooms to choose from based on the size and type of layout. For instance, you can pick a boardroom-style room for executive meetings or go to a hotel for a formal conference-style event.
Consider the type of meeting and the kind of people who will be attending to decide the kind of space you require.
The Time of Booking
Even rental spaces have peak and off-peak hours. Also, if you wait until the last minute to book a space, you might have to pay more than usual.
The trick is to start booking at least 15 days before the meeting. This timing will give you adequate time to compare prices and find the most suitable meeting space.
Ensure to ask about the pricing—usually either a hire fee or delegate day rate. For the hire fee, you are expected to pay a fixed price by day or hour, and it covers all the facilities, while the delegate day rate charges per attending guest. Understanding the two will help you make an informed decision based on the most economical choice.
Above are the basic points you need to consider regarding cost. Most importantly, look for a reliable meeting room rental provider who can offer you the best services and facilities at competitive prices.
You can trust us at PS Executive Centers, Inc. for quality meeting space rental services and excellent customer service. We will also advise you on the best options after assessing your needs and budget. Contact us for a consultation.