When searching for new office space, there is so much choice available that it can be difficult to know which one will best benefit your business.
Managed offices have become a popular choice for several types of businesses looking to rent an office that includes everything they need without a huge financial commitment. But what exactly is a managed office and will it work for your business?
In this blog, we’ll define managed office space and uncover some of the benefits associated with this type of office so you can make an informed decision on whether a managed office is right for you.
What is a managed office space?
In a nutshell, a managed office space is an outsourced office that businesses rent and customise to their requirements – within reason.
Managed office spaces are exactly what the name suggests and are managed by a third party who ensures the office is equipped to meet the needs of their client.
Many managed offices start as empty spaces which can be completely tailored to the client’s desire, from decor and branding to furniture and office accessories. Although there is some crossover between a managed office and a serviced office, managed offices are usually rented to one business as opposed to several businesses working under one roof as you would find in a coworking space.
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Businesses that rent a managed office space will typically be charged a single monthly fee which includes all the essential amenities one would expect from an office space. Several packages are also available on monthly rolling contracts, giving firms greater flexibility and cost savings.
How is a managed office space different from other office types?
There are many office types available in the market at the moment, especially since the pandemic where rented and shared office space has grown exponentially with the rise in remote working.
However, this can mean it’s often difficult to establish the differences between each type of office. Let’s look at a few different office types and how they differ from a managed office.
Shared office
A shared office can refer to a couple of different ways of working; a shared office space rented by large numbers of employees who also share the space with other businesses and coworking spaces rented by freelancers or digital nomads who only need a desk.
However, these types of workers now only make up around 19% of shared office users, with more large organisations realising the benefits of flexible working and the use of shared offices.
The difference between a shared office and a managed office space is that managed offices are typically used by one organisation and not shared with other businesses.
Additionally, if you rent a managed office, you will often rent it on a longer-term basis due to the ability to tailor the space to suit your needs. With a shared office, most individuals use the space ad-hoc and therefore don’t have the option to change the decor or equipment available.
Serviced office
Often used interchangeably with the term managed office, serviced offices are perhaps the most similar office type.
Like a managed office, a serviced office is a fully-furnished and equipped office space that can be rented by businesses that need a ‘ready-to-go’ workspace.
They will also be charged a monthly fee, but can sometimes be offered on a pay-as-you-go basis depending on the package chosen and the space available.
Private office
A private office is an office space used by businesses in the traditional sense. An organisation would lease or purchase the building for sole use by employees of their business, paying monthly rent or a mortgage for use of the property.
This is different to a managed office space because businesses will need to pay for everything else on top of their lease fee.
While managed offices typically include utilities, WiFi, waste management and cleaning as part of their standard monthly packages, businesses that privately rent or buy office space will need to fund all of these amenities in addition.
Virtual office
Virtual offices are one of the newest office concepts available to businesses and are particularly beneficial for startups or businesses looking to expand into new geographic locations. The key difference between a virtual office and managed office space is that virtual offices are not always physical spaces that can be worked from.
Many virtual office packages offer organisations a professional business address, mail handling service and call answering function where businesses do not need to be present.
This enables them to establish a presence without physically needing to be there.
What are the benefits of a managed office space?
Managed office spaces have become a popular choice for several businesses for good reason. There are lots of advantages to working from a managed office space, including the following.
Cost transparency
When you agree to rent a managed office space, you will benefit from paying for everything you need in one monthly fee.
This includes all managed office services which typically cover everything from the rent of the space and your utility bills to the furniture and equipment you need to get started.
This enables you to see what you’re paying each month for your office space, without needing to consider additional costs or unexpected fees that could creep up in traditional offices.
It can also be cost-saving to bundle everything into one fee, especially if you’re London-based where office rent is higher than anywhere else in Europe.
Greater business agility
Another key benefit to managed office space is the business agility that’s afforded when you use one.
Depending on the space you choose, you might be able to rent the space with a monthly rolling contract which means you’re not tied to one location for a long period as you might be with a private office.
This flexibility is essential for startups or growing businesses who might need to quickly change their business strategy and focus their efforts in a new location, or those who need to travel to meet clients more frequently.
Enabling flexibility for employees is also important, with 61% of businesses in a recent study finding remote work improves productivity.
Customisability
We’ve mentioned already how many managed offices can be tailored to suit your business requirements, but this can be hugely beneficial for those keen to establish a brand image and consistent culture among their workforce.
Being able to change the decor, fit-out and furniture in your office space can ensure your employees feel part of your brand.
You should never underestimate the importance of office decor, something as simple as being able to put plants in the office can significantly improve employee wellbeing and reduce stress.
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Time-saving
Searching for an office space can be time-consuming, and it can take even longer to move in if you opt for a private office where you need to source your own equipment and furniture.
Managed office space, however, enables you to simply pick a space and have the third party manage all of this for you, meaning you can focus on the running of your business and place your efforts where they are most needed.
Finding a managed office space
If you’ve decided that a managed office space is right for you, it’s time to start your search. Easy Offices has a huge range of managed offices available in every corner of the world, whether you’re looking for a trendy managed office space in London or you need a convenient managed office in the centre of New York.
Browse our office locations here or let us help you design your office space from start to finish.