Due to rising property and rental costs, more and more businesses are looking to break through from the traditional methods of acquiring office spaces. That’s why flexible commercial property options such as sub-leased office spaces or virtual offices are extremely popular nowadays. However, there’s one alternative to conventional office spaces that seem to have caught every top start-up founder’s fancy – serviced offices.
What are Serviced Offices?
Serviced offices are fully furnished and fully-equipped office spaces. A start-up founder can easily get a serviced office to rent on a “pay as you use” model. These office spaces are located in buildings that are managed by property managers. These managers rent out serviced offices to one or multiple businesses in the same building.
As start-ups grow and evolve, they can rent out whole floors and gain access to private office spaces that are ready to be used. The most appealing qualities of serviced offices are the flexible terms that come with the contract –
- The leases are super-short, so small-scale start-ups don’t need to worry about not being able to pay rent six or seven months in advance.
- Responsibilities like property maintenance, equipment installation, furnishing, etc., are managed by the providers.
- The serviced offices have proper security features.
- There are no hidden costs. Start-up founders receive transparent bills that they need to pay every month (or week).
- Short-term monthly leases enable business owners to operate flexibly. They can scale up/down at their own pace.
Why Use Serviced Offices?
If you’re a business owner, getting a serviced office to rent is a good idea when –
- You’re Working on a Specific Project – If your project-based team requires a fully-equipped workspace for a short period, serviced offices offer the perfect solution. Business owners can get serviced office spaces in specific locations, complete the project, fulfil the contract with the provider, and leave!
- You’re Taking Over a New Market Space – Businesses expanding into new regions or markets can benefit a lot from having a “ready to use” office space in a strategic location. That’s why the fully-serviced office spaces are extremely popular in business centres across the world. The short-term rental options attract several businesses with short-term expansion goals.
- Your Business Has Experienced Unprecedented Growth – Large-scale companies are usually able to anticipate their commercial growth. They have the funds to support their refined objectives. Small businesses, however, often struggle to keep up with business demands just as soon as they outgrow their conventional leased spaces. In such situations, renting a ready-made serviced office space makes a lot of sense.
Serviced offices offer perfect solutions for start-up founders that don’t want to be tied down to unnecessarily long-term contracts. They simply need interim spaces for their growing teams of employees without having to deal with hassles such as hidden costs or increased maintenance-related responsibilities.
That’s why even the top start-up companies are constantly looking to rent serviced office spaces. After all, every business leader loves the idea of accessing new markets, staying agile, and working in spaces that are easy to scale up or down!