Office Space Options

Posted on June 25, 2008 at 3:41 pm by Steven

When choosing office space you’ll find many office space solutions available. Here’s a general overview to what’s out there:

Conventional Office Space
Conventional office space contracts tend to be on a lease agreement and you’ll be lucky to get an agreement under a 5 year minimum contract. You may be able to negotiate a period of free rent if you’re willing to commit to a longer term lease and some landlords offer break clauses when you can take a payment holiday. The advantages of this option include security of tenure but the initial overheads, insurance and lease payments may be too much for a start up or small business.

Serviced Office Space
Contracts are normally handled in the form of licenses. Users of serviced office space have the advantage of office space and contract length flexibility with terms of as little as one month being readily available. Tenants also have access to meeting rooms, break out areas, administration and reception staff and a fully integrated telecoms and IT infrastructure. This option is ideal for companies who are unsure of their growth rate or companies that require a fully fitted out and functional office that they can move into immediately. They also offer small office space from 100 square metres up which are hard to come by using the conventional office space method.

Managed Office Space
Managed office space sits somewhere in between the conventional and serviced office solution with both licenses and leases available. The term usually determines the type of contract and tenure usually starts at 1 year. This option is great for companies that already have furniture and telecoms systems but want flexibility. Managed offices tend to start at 1000 square foot and above so if you need something smaller a serviced office would be more suited.