Top 10 Benefits of Renting a Shared Office Space

shared office space
Shared office spaces for businesses and freelancers

In recent years, the workplace has evolved from cubicles and private offices to larger, more collaborative workspaces. In the United States alone, there were 4,043 coworking spaces in 2017.

Traditional office plans have become more expensive, and shared office spaces have become increasingly common as the nature of business has changed. Location, communication, and capability have all improved as a result of technological advancements.

Shared office spaces, which is a bit different from coworking, is also based on a shared work environment concept. They offer members private furnished offices, access to professional, fully-equipped meeting spaces, a variety of business services, and the assistance of a dedicated team. It essentially lets you delegate the management of your office to a group of professionals who specialize in doing just that – running a professional and efficient office. Not only do you get to outsource these crucial activities, but it’s also usually the most cost-effective workspace solution that offers the most flexibility. 

What is a Shared Office Space?

shared office space
How does a shared office space work?

Most coworking spaces follow a similar pattern. Users can use a large, shared office area for a monthly fee. Basic users have first-come, first-served access to desks, tables, and offices. This means that if you arrive late, you’ll probably end up sitting at the least popular workstation. Upgraded users can rent a desk or even an entire office for their personal use. There is generally a limited number of conference and meeting rooms available, so they must be reserved in advance.

Why has it become so famous in such a short period of time? The recent rise of the gig economy, popular entrepreneur/startup culture, and remote work tools like Slack have almost instantly generated a surge in demand.

Who Uses Shared Office Spaces?

shared office space
Shared office spaces cater to a diverse set of people and businesses

Freelancers, entrepreneurs, small teams, and start-up businesses regularly use coworking office spaces. Essentially, they are used by any type of worker who would ordinarily work from home or require their own workplace to rent.

However, depending on the coworking space, the demographics of the members can differ significantly. Artists and activists frequent some coworking spaces, while tech professionals frequent others. Non-profit groups frequently use coworking spaces as well, because they often receive subsidized membership rates.

Because of the benefits that coworking can give, some multinational corporations have begun to relocate their distant employees to these shared offices. Nike, GM, Canadian Tire, and General Electric are among the corporations that have embraced this trend. 

Advantages of a Shared Office Space

There are a slew of other advantages in addition to these basic ones, which are often overlooked. Here are some of them:

1. Professional image

Having a shared office space rather than a remote crew that works from home might offer your company a more professional impression. This is especially true if you have a lot of client meetings or consumers who come to your office on a regular basis.

2. Sense of community

Working from home may be isolating for a lot of people. It may also be inconvenient if you need to routinely brainstorm and connect with your team. A shared office space can also be a terrific way to meet and network with other local company leaders.

3. Flexibility

 

A shared office space is far more flexible than renting an entire office building. You won’t be required to sign a long-term lease, and the majority of the necessary equipment will be provided.

4. Low startup costs

For companies or businesses trying to save money, a shared office space is an excellent choice. The lease is normally month-to-month, with no upfront payment and no early cancellation costs.

5. Business Services

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Most shared office spaces come with business services to make your stay comfortable and productive

When you rent traditional office space from a commercial landlord, you are renting from someone who is in the business of renting space, and it is your responsibility to make it comfortable and productive. When you rent a private office from a shared office provider, you’re paying for a service that includes a workspace. This means they have a good understanding of the value of business services and how to deliver them successfully.

Some providers, for example, offer customized live-call answering, which means you’ll have someone who will answer your calls in a professional manner and represent your company well to your clients and prospects. And that’s just one of the many potential business services available in these areas to a corporation.

6. Tech

In the same way that business services suppliers are experts in the technologies that businesses require, shared office space providers are also experts in the technologies that you need. Companies increasingly rely on technology, from high-speed Internet and secure wireless access to conference equipment and copiers, which means it will save you a lot of trouble when you have a specialized team handling your technology. You’ll have access to enterprise-class technology that was created particularly to assist business operations, as well as a team to troubleshoot issues and manage tech vendors.

7. Security

Security is a major concern for businesses on many levels, from building and Internet security to the protection of physical assets, and shared office space providers frequently include solutions to manage these security threats.

8. Defined boundaries

Anyone who has ever worked from home for a long time understands how difficult it is. You’re surrounded by diversions, and the cozy atmosphere blurs any distinctions between your job and personal lives.

Working in a coworking space eliminates this issue. When you’re at work, you can concentrate and work efficiently, and when you’re at home, you can unwind and rejuvenate. Workers who use co-working facilities are 74% more productive, creative, and collaborative, according to one research. Employees who use coworking spaces report substantially better levels of job satisfaction than those who work in regular offices, according to the Harvard Business Review.

9. Diversity of talent

The diversity of talent is one of the benefits that has lured huge firms to coworking. People who work closely together have extremely different skill sets, which allows different groups of workers to benefit from each other’s abilities. For example, a web designer who despises accounting might be working next to an accountant who needs a website.

It also makes coworking spaces a perfect setting for brainstorming and sharing ideas. Additionally, some businesses use it as an opportunity for their staff to network and recruit fresh talent.

10. Different office culture

Because coworking office workers come from a variety of businesses, it helps to avoid workplace politics and competition. In a coworking environment, you never have to be concerned that the individuals surrounding you are vying for your job. Instead, you’ll be able to focus on your own work when you want to, and you’ll be able to openly share your ideas, difficulties, and tribulations.

Things to Consider Before Renting a Shared Office Space

Only you can determine whether a shared office space is appropriate for your company. However, there are a few factors to keep in mind.

Make sure you understand the insurance requirements since you’re renting a space in someone else’s building. Find out if you’ll have access to the office 24 hours a day, seven days a week. Not everyone works regular 9-to-5 hours, so having more hours available would be a bonus. Finally, spend some time looking for a coworking community that fits your culture. 

(RELATED: 5 Things You’ll Find at a Shared Office Space That You Won’t Find at a Traditional Office Space)

arthur truong osdoro coworking spaces and offices for rent

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.

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