When you’re on the hunt for a new office there are a lot of factors to take into account. Whether you’re managing the search for a fledgling start up or a well-established organisation, the right space could make all the difference to your business.
One of the key business decisions when searching for a new office is whether to choose a leased office space or a serviced office. But which is best for your business? We’ve covered the pros and cons of each option below to help make your decision easier.
What are leased offices?
A leased office is the more traditional option. When you choose a leased office suite you will rent it directly from a commercial landlord. Most lease terms last for around three years, while some contracts last for considerably longer.
When a business invests in a leased office, they will be responsible for all aspects of that space, including furnishings, upkeep, maintenance and utilities.
Leased offices: the pros
- You will have total control over the space
- You can make interior design choices
- You can rent an entire office building if suitable for your business
- You won’t necessarily have to share the space with any other businesses
Leased offices: the cons
- They are less flexible
- There can be a lot of hidden costs
- You’ll need to invest in a lot of furniture and equipment before you can get to work
- You’ll be responsible for upkeep
- There may be fewer networking opportunities
- You’ll have to hire and manage receptionists, IT support, maintenance, cleaning and catering staff
A leased office is right for you if...
…your business is confident about what the future looks like and is ready to commit to an office long term. Your business also needs to be prepared to hire a full range of support staff, invest in furniture and furnishings, and have some savings ready in case office facilities need major repairs!
What are serviced offices?
Serviced offices are a little bit different. These are rented from an office management company who will manage certain aspects of the office on your behalf. Generally, serviced offices are cleaned, maintained and furnished by the management company. Businesses who invest in serviced office space are also typically able to enjoy the use of communal support staff such as receptionists, IT support team, groundskeepers and catering staff.
Serviced offices: the pros
- Everything is included: there are no hidden costs or surprises
- Rent terms tend to be a great deal more flexible. Most serviced office leases are for a commitment of 12 months
- Offices are fully furnished and ready to go right away
- You won’t be responsible for any maintenance or upkeep
- Serviced office buildings can offer great networking opportunities
- You may be able to move into another office in the building should you require more space
Serviced offices: the cons
- Serviced office costs can seem higher than leased offices, although it is important to remember that these costs include everything
- You’ll have less control over interior design and furnishings
- You may not want to share a building with other businesses
A serviced office is right for you if...
…your business is expecting to grow and develop over the coming years and doesn’t want to be tied down to a long-term lease. A serviced office may also be right for you if you want to be surrounded by likeminded businesses, benefit from communal support staff, and get down to the business of doing business without having to micromanage every aspect of your surroundings. If this is the case for you, it might be time to think about moving into a serviced office.
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Are you searching for a serviced office in Leeds? Carrwood Park might be just what you’re looking for. Why not come and see what we offer for yourself?
