In recent years, businesses seeking commercial space have embraced short term, flexible office facilities increasingly. Short-term managed spaces where you only pay for the services you need (such as reception and office cleaning) have become popular with businesses because they offer flexibility.
Short-term co-sharing (non-managed) services that provide month-to-month desk space are also popular. What are the main differences between short-term, flexible space and longer-term commercial rentals?
Short term reduces traditional rental overheads
A short-term managed office space such as the commercial facilities offered by the Regus group globally lets you get everything you need bundled. This means utility costs, tech (such as fibre and WiFI), access to consumable services such as paid scanning and photocopying and sometimes even reception staff, are all bundled into one package.
In a short term, co-shared office, however, you will not necessarily have additional facilities included. This is an affordable option, especially if you only need part-time space for work. Longer term rentals often have higher overheads, since you may need to negotiate utilities and additional services yourself, rather than pay only your portion towards these essentials.
Short term co-sharing spaces facilitate collaboration
In a long-term rental, such as a serviced office where you have access to private facilities, you enjoy the luxury of greater quiet and privacy. Yet a short term co-sharing space is a popular solution with start-ups and innovators. This makes it an ideal commercial space for networking and collaboration.
Short term co-sharing office letters often bundle rentals with exclusive networking events for tenants. This enables tenants in similar industries to benefit from each other’s expertise and proximity.
Serviced short-term offices are usually ready for occupation
Long term rentals often are let unfurnished, with minimal added features such as fixed phone lines set up. This leaves a fair amount of admin for businesses moving to new premises.
If you need exclusive access to land-lines, serviced short term offices are sometimes a better option. These offer individual office space and are usually equipped with everything you need to start working straight away, from land lines to office furniture and other equipment.
Long term offices typically include access to meeting spaces
Besides its benefits, short term office space might not be the best solution for businesses that need to hold frequent meetings. Many co-shared spaces simply offer desk space and shared facilities such as an office kitchen and bathrooms.
Long term, private offices, on the other hand, typically include meeting space, shared between tenants. Often, tenants pay a small additional premium for shared use of the space, to cover cleaning and equipment costs.
Short term space benefits start-ups and entrepreneurs
A larger, more established business may prefer a long term, serviced solution consisting of private, managed facilities.
Co-sharing facilities, on the other hand, are ideal for entrepreneurs and start-ups with smaller teams (and even teams of one). These spaces give professionals the flexibility to be at the office every day or only a few days per month. They’re cost-effective solutions where start-ups and entrepreneurs can engage with other like-minded professionals.
If you’re looking for short or long term commercial space, contact us today and we’ll help you find a suitable location and building in our portfolio.