As the workplace culture shifted to remote work due to the global health and economic crisis, companies and organisations are rethinking where and how work will happen after the pandemic.
Serviced office spaces have become a popular trend in recent years. In fact, some businesses find them a better choice compared to traditional leases.
A serviced office is a workspace that is fully managed, designed, and furnished with technology and facility management services. A recent CBRE study revealed that flexible workspaces are getting more attention as more than 56% of companies look forward to using serviced offices after the pandemic. Serviced offices provide lease flexibility and all-inclusive service. Read on to learn more about how a serviced office works and its advantages.
What Are Serviced Offices?
Unlike traditional office spaces, you are the only tenant in a serviced office while you manage your business. The workspace is solely your own. But unlike coworking spaces, you get to enjoy both community and privacy.
A serviced office is usually made up of smaller private offices that are leased out to several businesses. It is complete with all the amenities required to run your business, including internet, electricity, conference rooms, and maintenance. All these are managed and maintained by the serviced office provider so you don’t have to worry about these things.
There are multiple factors to consider when choosing a space for your business. A serviced office is a great option if you’re looking for more flexibility.
How Do Serviced Offices Work?
Serviced office spaces are designed to get rid of long-term lease terms and capital expenditures related to traditional office space leases. Unlike traditional offices, serviced offices offer companies with short-term leases and all-inclusive monthly packages. The length of lease could be as short as a month or as long as a few years.
Instead of the rent fee, serviced office operators provide businesses a private and fully furnished office space. On top of this, the provider also handles all of the services and amenities to give businesses a broader office experience.
Some of the services and amenities include:
- Design and build processes
- Full furnishing options
- Facilities management
- Technology and IT support
- Reception and administrative support
- Perks, food and beverage options
- Meeting and event space
Main Benefits of Serviced Offices
Serviced offices have exploded in popularity during the pandemic because of the advantages they bring, especially for businesses looking for more flexible office space solutions. These benefits include:
Most serviced offices are located in central business areas, providing easy access for everyone, including your customers, guests, and clients. With the flexibility of a serviced office, companies have the option to choose where to locate. You can pick from any number of locations in busy metropolitan areas or in an upscale commercial space.
Your company or business can also take advantage of the flexible contracts offered by serviced offices. You don’t have to worry about year-long leases, especially during times of uncertainties. Shared office providers offer short-term commitment for as short as one month or several months. This is ideal for startups and small businesses wanting to see whether this type of environment suits them. And if you ever need additional space, serviced offices can provide what you need. You need to pay only for the space you use for the period that you need.
Pay As You Go
You only pay for the services and facilities that you utilize. If you only require a conference space every now and then, you can hire it only when you need it. It’s possible that the serviced office provider will include it in the monthly rent. In addition, you’ll have pay-as-you-go access to copiers, office furniture, support staff, and much more.
A serviced office offers the perfect opportunity if you’re a freelancer or you run a small business that employs remote workers. Most of us need to be among other people to talk, locate people who can help us generate ideas, and so on.
Keeping the social side in mind, many people believe that working in a group environment makes them more productive. Working from home can be distracting, however working in a serviced office allows you and your team to be more focused. Keep in mind that many serviced offices will provide you with a dedicated crew. Using the crew at your serviced office, who are also included in the rent, will help you save money on salaries and wages.
Utilities, workplace furniture and equipment, IT infrastructure, and other expenses eat into your budget significantly. The rent paid to the serviced office firm covers all of these costs. They give you everything you need to manage your business and save you money in the long run. You won’t have to spend any money to get your workplace up and running on day one.
Many serviced office providers host networking events as well. You will have the opportunity to meet new people and potentially find someone or a company with which to work on a project. Alternatively, you may connect with a new client—either way, you win. You’ll have the opportunity to network with people from other industries who can help spread the word about your products and services.
Everything about serviced office space is high-quality and modern, from the furniture to the high-speed connections and more. It’s easy for a corporation to employ office furniture and equipment for years in a traditional office, until things start to break down. Over time, the office can become dirty and decaying. When clients and coworkers come to visit, such an office setting can rapidly turn them off. A serviced office, on the other hand, offers cutting-edge amenities such as a welcoming reception, modern office furniture, meeting rooms, and huge breakout areas. Not only will the atmosphere keep your employees happy and productive, but it will also keep coworkers and clients happy.
Businesses Suited for Serviced Office Space
You might be asking what kind of company might profit from a serviced office. The types of businesses that use serviced office space are diverse. Serviced office spaces are proving to be a more flexible and cost-effective alternative to traditional office space for freelancers, start-ups, scale-ups, and large enterprises.
Perhaps a huge firm requires temporary office space for a project; a serviced office is a cost-effective alternative to typical office space while also providing a more productive environment. This is just one example; the types of enterprises that employ and benefit from a serviced office setting are virtually limitless.
Enterprise software development experience. More recently in positions including CTO, Lead Developer and Head of Product in Australia. Deep expertise in property and legal technology in Australia with a specialty in lead generation and tech scalability across Asia-Pacific.