If you are thinking of getting a serviced office you are going to need to familiarize yourself with the concept first. You can start of by asking, what is a serviced office? Basically, the definition of a serviced office varies even among the big players, but there are some things that remain the same, such as sharing amenities like the utility rooms, reception and conference rooms.
The concept of serviced office space was developed as a solution to control the overhead costs of offices by providing the basic facilities and equipment that is needed to run a functional office.
Unlike the grade-A office sector, which is currently suffering from downward pressure due to the slow economic growth clouding the financial market and leaving many institutions vulnerable to its effects, the serviced offices industry has seen a constant and steady rise in demand.
There are many online sites that help you compare the rates of different serviced offices in your area. The services are provided for free and include properties in all sizes, locations and prices. These online sites also provide quotes and even arrange visits to the space for customers that are interested.
An office reflects the character and identity of an organization. Rather than the more traditional approach of moving into an office and then furnishing it, many people are now looking towards serviced offices for an easier and flexible solution.
CC image courtesy of Sean MacEntee
The benefits of serviced offices have always been known to small businesses, but due to the current economic crisis larger businesses are also hopping on the bandwagon. First of all, unlike conventional offices that come with a ten to fifteen year lease, one of the many benefits of using a serviced office space is that it gives you the advantage of a short term lease which has flexible terms and allows a company to grow quickly.
The main advantages of a serviced office space are that firstly, a serviced office space is more flexible, allowing the tenant to upsize or downsize their office staff/space when they deem fit. Secondly, like the name suggests, a serviced office is managed by a facility management company and provides an all-inclusive service that is outfitted with everything from chairs and tables to the cleaning service, the internet and telecom services and snacks.
A serviced office helps to reduce financial risk by including the additional costs like cleaning, utilities, maintenance and insurance in the routine payments. This wipes out the high service cost that is usually included in the expenditure of a property.
Serviced office space also removes many obstacles that are faced by start-up businesses. A fully functional serviced office can be up and running within an hour and can accommodate a hundred or more staff members.
With the current economy crisis still looming, many people, mainly from the financial sector, are now looking to start up their own businesses and are in need of a suitable executive space where they can set up shop.
Using a serviced office makes you concentrate and focus more on the business side of things by providing and managing the administration, reception, maintenance, security and cleaning staff. The facility management company also provides extra staff whenever you need them, which come in handy especially while in the middle of a campaign or a surge in business.
Apart from some of the benefits discussed above, another important point to keep in mind is that having your business in a central business district of a city is crucial to business success, especially for organisations that operate in a major city. A serviced office provides you with that business address you require.
The recent market trend is seeing more big names in the property sector aligning the general rates of serviced offices with grade-A offices. With the demands for serviced offices increasing day by day and occupancy rates at an all time high, the rates of this particular type of office space is expected to remain flat for the rest of the year according to senior analysts.
Dison Arnibal is a result-oriented Search Engine and Internet Marketer and professional who has considerable expertise in search engine optimization (SEO) for Real Estate websites, with broad knowledge base that includes online & social media optimization, organic search marketing, and user experience.