Telecommuting's Impact on Real Estate

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Telecommuting's Impact on Real Estate by Tony Seruga, Yolanda Seruga and Yolanda Bishop

MSNBC.com reports that by the year 2009, 14 million American people will be working from home, telecommuting rather than driving into work. Working from home used to be one of those things that everyone dreamed to be able to do, and only a small percentage of the work force ever got to realize such a dream.

However, as time has progressed, the cost of gasoline and automobiles has been on the rise as well as the cost of real estate, causing businesses all over the United States to take a different approach at business. For many of these businesses, offering employees the telecommuting option is just this different approach.

Why Offer Telecommuting Positions to Workers?

Offering the telecommuting option is just a smarter choice for many companies. For qualified workers, it creates a boost in employee morale as it gives people the freedom to fire the babysitter but still be able to make a living. At the same time, offering a space for a virtual office allows companies to drastically limit the amount of money they spend on overhead, in everything from real estate rentals to ink pens, printer paper, electricity, power computer equipment, heating, air conditioning, water, and even coffee filters in the break room. You name it; the option to telecommute gives employers the opportunity to knock a few dollars off of the bottom line.

Workers get a lot out of the telecommuting option, even if the benefits happen to be rather limited. Many of these positions are allowing people to live retirement lifestyles without actually having to retire. Those with a laptop computer and appropriate equipment can work wherever they find they are able, making getaways and spur of the moment trips and things that much easier. Many people look for freedom like that in a job, and those who can be responsible with it can truly benefit from a much more laid-back lifestyle than those restricted to the confines of an office and nine to five hours.

A Virtual Office is Still an Office Environment

It is important not to mistake telecommuting for not really having to work at all. Many employees are not able to handle the freedom that telecommuting positions offer, and for these people the opportunity to work on site has remained intact. For limited flexibility in hours, work location, and daily activities, those who telecommute give up the opportunity to interact with one another, enjoy lunch time chatter and have an actual office. As a result, the real estate market has experienced a slight upset. Commercial properties are harder and harder to rent to companies whose main workforce has their own office at home, and as time progresses this upset is only bound to get worse.

Real Estate and Telecommuting-Making Room for the Times

Many real estate investors want to know, what the answer is to this conundrum? How can real estate investors find a way to profit from the increase in workers with the privilege of telecommuting rather than working on site for their companies? One interesting option in this respect is convertible home offices, designed for decor and comfort but obviously geared toward business purposes.

Getting out of the commercial property business isn't always the smart idea, either. There will still be a percentage of the working population that remains in their on-site locations, and then those workers who gravitate between their offices at home and their workplace itself. Many workers reserve this option, and it is sometimes necessary to regain focus and composure when it is otherwise lacking.

Another option for real estate investors who want to pick up on the telecommuting trend early is to invest in and build more properties with designated office space. Rooms that are converted into an office are one thing, but there is something of great value in a home with a detached office with all of the amenities of home. These spaces provide incentive, motivation, and concentration enough to work but still offer the creature comforts of home that are so desirable in a virtual office environment.

Telecommuting and virtual offices are ideas that are certainly not new, but only lately are becoming reality for enough people to have an impact on the real estate industry. Good investors can take advantage of the transition to work at home positions and find creative ways to take advantage of this growing trend.

Tony Seruga, Yolanda Seruga and Yolanda Bishop of http://www.maverickrei.com specialize in commercial and investment real estate. As of May, 2006, they and their partners are managing over $600 million dollars worth of new projects.

Article Source: Telecommuting's Impact on Real Estate