Leasing and purchasing costs for a new or existing business can quickly become hard to manage. Serviced offices provide the perfect alternative as they take care of maintaining the building while offering a number of key business services to complement the companies based there. This ensures flexibility for start-ups and for any business that doesn’t want the hassle of renting or owning their own property.
Serviced offices generally give companies the opportunity to pay for anything from a single desk right up to an entire office or floor, if needs be. If you are looking into using a serviced office for the first time, read on to find out precisely what is and is not included in serviced office costs.
One of the main reasons people opt for serviced offices is to reduce setting up costs. You will find your office space fully fitted with office furniture, including tables and chairs.
Telephone and internet
In most cases this will be included in a serviced office package. There may be some cases where low rental fees are added on. Some providers place a cap on the amount of free telephone and internet usage you have available and will then add on extra charges if the business goes over the limit.
As you will be sharing the building with a number of companies, meeting rooms are usually available on a pay-as-you-need basis. The costs will vary from building to building but you will be told this information when you move in.
You will be expected to use your own equipment in a serviced office, although on occasion this may be supplied. If this is a requirement, the operators may be able to supply computers and work equipment, although this will come at an additional cost.
In most cases, you will have to sign a license agreement rather than leasing a space within a serviced building. This is actually beneficial as these agreements are more straight forward and easier to understand than typical rental contracts.
Office space flexibility
To move into a serviced office, you will either have to pay a flat fee for a desk space, or a total amount based on the square footage you need. Renting individual desks is sometimes a preferable option for start-ups as it keeps costs to a minimum. A company looking to move to a larger space with more room will usually go for a cost per-square-foot.
This is usually available on a pay-as-you-need basis. Business services includes anything from telephone answering services, receptionists and secretaries, courier services, travel services, stationery supplies and other similar basic office functions.
Catering is not typically included within most serviced office packages. However, this may be provided by some operators. It may vary from organising lunch deliveries with a nearby supplier, to stocking up your fridge with basic provisions during the week.
Services and facilities
Any services and facilities included will be outlined in the license agreement which you can double check before you move in. Depending on the operator and your requirements, this will vary from office to office.