The term “flexible office” is used to describe offices that offer flexibility to the tenant in every dimension the tenant wants.
A better definition would be office space that offers flexibility in terms of area, customizability, growth planning, duration of the lease, and scalability.
Examples of flexible offices include
- Serviced Offices
- Managed Offices
- Co-working Centers
- Leased Offices
- Virtual Offices
From region to region, the definition and flexibility width varies. So, for instance, if you were to lease a flexible office in Hyderabad, India, then for a team of 500, you would lease a managed office or serviced office. And ask for flexibility in lease duration for your specific reasons.
Let’s look at flexibility in each of the office type.
Flexibility in Serviced Offices
Before we look at flexibility in a serviced office, let’s look at the definition of a serviced office.
What is Serviced Office?
Let’s say you’re to lease office space for 800 employees in Hyderabad. But you want to focus on your business and not get involved in building maintenance work. So, in this case, you’re searching for office space that is managed by a landlord, or a company that excels in providing serviced offices or other offices.
To learn more about serviced offices visit our blog here. Let’s now look at flexibility in serviced offices.
So, coming to leasing office space for your team. Let’s say you’ve found your most appropriate office, but you want a few terms.
In this case, when you tell your terms to the lessor like you want to lease the space for only 2 years or with few customizations in office space. This is the time when the lessor tells about what is feasible or not. But the majority of the time, your terms are approved.
Here you’re able to get a better deal and you don’t have the pressure of any sort. You can peacefully focus on your business, and when you feel that you need to scale up, you can certainly speak to your landlord and scale-up.
Let’s move to the next office type.
Flexibility in Managed Offices
What is a managed office?
Let’s begin with an example. Here you’re searching for office space for your team of 1000. But this time, you want customizations like extra meeting rooms, a lab unit, a dedicated space for research, open space for employees to sit, a breakout zone, and more. And your prime concern is that you want it in a prime location. Also, you don’t want to get into building maintenance. So, any office that can meet your needs is a managed office. It differs from a serviced office as in a serviced office you cannot get these customizations.
If you wish to know more about managed offices, then check it out here. But now, let’s look at flexibility in managed offices.
When you’re looking for an office space that is tailored to your organization, then you’re surely going to spend more than 8 years in that space. So, here you get flexibility in the form of customization of original office space. The lessor will take care of the space maintenance at a fixed monthly rent. Also, when you need to scale-up, you can do it effortlessly.
Flexibility in Leased Offices
What is a leased office?
Let’s say this time instead of 1000 employees, you’re leasing office space for 5000 employees in Hi-Tech City, India. But this time you’re for flexibility in things like a dedicated gym, separate cafeteria, a play area, and dedicated parking space. And you want to pay building maintenance and other charges. Also, you want the space in less than 2 weeks. So, any office that you lease for your organization with little to no customizations is known as a leased office. They differ from managed & serviced offices in terms of customizations and lease duration. Also, in serviced and managed office, you’re paying a fixed monthly rent, but in a leased office, depending on your lease type the rent varies.
If you wish to know more about leased offices, please check here.
Okay, now that you know about leased offices, let’s look at flexibility in it.
Since you wanted to participate in the building maintenance, property tax, & insurance along with few addons, when the lessor agrees to your terms, then you get flexibility in this form from a leased office.
Flexibility in Co-working Centers
What is a co-working center?
A co-working center is a business center that is customized and the space inside it is leased to freelancers, solopreneurs, startups, small companies, medium businesses, and even MNCs in all shapes and sizes.
So, let’s say you’re looking for office space for your satellite office in a different city, and you’re looking for space for 1500 employees. Now, you have 2 options. One is to lease managed or serviced or leased space. The second is to lease office space in a co-working center and save operational costs.
After this pandemic, leasing space in a co-working center makes more economical sense. But you’re looking for flexibility in the area leased. Generally, co-working centers lease office space on a per-seat basis, but you’re seeking to lease space on a per-sqft basis. So, after you find the desired co-working center and when the owner of the co-working center agrees, you see flexibility in that form from a co-working center.
To know more about co-working centers, please visit here.
Flexibility in Virtual Office?
What is a virtual office?
When you’ve started your business a week back, and you realize that you need a business address that for not only legal reasons but also to host a few client meetings. Then, a virtual office will provide you the mandatory address and cater to your concierge needs. Note that, when you’re a freelancer or a solopreneur or travel a lot, then a virtual office can make your life easy.
To learn more about the virtual office, please visit here.
In a virtual office, let’s say you’re looking for a larger meeting room that they usually provide. When you find an office that can meet your customizations, you see flexibility in that form.
Now that you know how flexibility works in every office type. Let’s look at when you should go for flexible offices.
When to choose flexible offices?
Choosing a flexible office depends on you and your need at that moment. Whenever you’re looking for a flexible office, ask the following questions to yourself.
- What are the operational goals you’re going to achieve from the space?
- Will you require the same office space after 3 years?
- What is the flexibility you’re looking for in the office?
- What is the size of the space?
Asking these questions will further clear the flexibility you’re seeking and when you need a flexible office. But after this pandemic, reasons and ways of doing business have changed. If you’re looking for office space, then the best option would be to lease flexible offices. It is because if you’re going to experiment with remote and in-office teams, then you can effortlessly carry your experiments and work out the best business model.
Learn more about changed business models due to COVID here.
Now that you know what are flexible offices and flexibility in various office types. One thing you need to keep in mind when leasing for flexible offices, you must ask for flexibility from the lessor. You could lease a managed office, but still, it could not be flexible enough because you didn’t ask for flexibility at the negotiation time.
To know how to lease a flexible office, check out our Ultimate Guide to Flexible Leasing here.