A workplace is designed, leased or built based on the growth of the company, manpower and other challenges faced by the company. Workplace is directly proportional to the productivity of the employees, hence choosing it wisely and precisely is a crucial task.
While we take a glance at this blog today, let us first understand three popular models of unconventional office spaces: serviced office, managed office and coworking.
As per your business needs, first learn about each one of them in brief.
What is a serviced office?
Serviced office spaces are the long term contract based unconventional office spaces, which is now preferred by many companies who are not prepared to invest and create an office space themselves. Serviced office spaces are surely a good option for them, they can rent out space based on the facilities in use. Advantages include:
Cost effectiveness:
You can rent out space based on your needs which make it more feasible. One such advantage that comes along with it is the furniture and equipment, that makes it economically fair for every and any company leasing.
Contract based leasing:
You can always opt for flexible leasing, the contract duration can be short or long based on your requirements and needs. Isn’t the leasing and stay made easy with this?
Easy set up:
Since the serviced space includes ready furniture and equipment, it is made more easy and convenient to shift in such spaces, all you need is your machines else everything is readily available. Even the internet services are provided.
What is a managed office space?
Managed office spaces are traditionally empty spaces that can be rented out for business purposes. They are usually runned by third parties, such spaces are generally designed as per your needs and creative approach.
The other benefits and utilities that come along with managed rented spaces are: the essential furniture, security systems, cleaning services and at times AC ducts and services.
The advantages of managed offices are:
1. Lease agreements
Unlike traditional long lease agreements, these work differently. The agreement lasts for 1 to 3 years in such cases.
2. Your impression
Managed spaces are usually open to suggestions and innovations, you can create and opt for your side of narration through your designs and interior.
3. Cost effectiveness
They work on monthly rental fees which means no extra costs and expenses, these save good.
What are coworking spaces?
Coworking spaces are one central hub or collaborative centre where employees of different companies work together under one roof. They have a flexible and comfy way of working all over.
You have to pay for necessities that are in use. What comes along when you lease a coworking space: essential furniture, security systems, AC services, cleaning services and many more.
What are the advantages of coworking spaces:
1. Experience and networking
You gain experience and learn while working in a coworking space and meeting new people and learning from them.
2. Flexibility
You get flexible work hours and comfortable working here with coworking spaces.
3. Cost effective
Coworking spaces save huge cost, as they work on pay for used utility policy.
You can even book rooms based on your needs, for example private meeting halls, conference rooms, and whatnot.
What is the difference between all these models of unconventional office spaces?
Coworking, serviced and managed spaces work differently based on their basic nature. The serviced office spaces have flexible lease contracts and readily available set up while for managed spaces they work on at least 1 to 3 years of total contract period that you have to serve once leased. Besides, the managed spaces aren’t fully equipped while services and coworking are.
Coworking spaces are rented on the basis of the rooms and utilities used, while serviced and managed spaces charge on a monthly basis. Coworking spaces promote working with different employees while managed ones do not.
Final thoughts
Deciding your work space is actually dependent on the characteristics of your business and the flexibility you need to implement. Budget and contract tenure, of course, plays a crucial role in the deciding terms. You can decide what is your narrative towards the workspaces and choose accordingly. This blog is all you should know about these three models and your needs, read and know.
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