With the growing number of modern entrepreneurial ventures, conventional office spaces have also undergone a massive change. Requirements have changed and so has the work culture. Serviced and Managed office spaces have emerged as functional solutions for many new-age companies. Whether they are looking to expand operations or trying to set up a new office, it is consistently growing in popularity.
What is a Serviced Office?
A Serviced Office offers easy access to numerous amenities. It can be leased for the short term or on a flexible basis. The office is equipped with basic necessities consisting of clerical support, Wi-Fi connection, reception staff, operational phones, conference rooms, and other utilities that are included in the rental contract.
Maintenance and cleaning services are also readily available at these offices, making it easier to start operations immediately. Serviced offices are, therefore, fully equipped office spaces that allow tenants the flexibility of availing all the available benefits.
What is a Managed Office?
The Managed Office also provides a flexible workspace, managed by a third-party service provider. It allows the tenant to set up the office in a way that is necessary for the company. It is like a blank canvas without any furniture or utilities included in the service package.
As a result, whoever moves in needs to custom-build the workspace. The contract is also slightly prolonged and may range between a year to two or three years. In this case, tenants cannot pay per desk and have to pay for the entire office space.
What are the key differences between serviced and managed offices?
Serviced offices spaces are completely furnished. They take into account all the needs of modern businesses. Along with office furniture, computer peripherals, accessories, and conference rooms, they can provide staff and services for cleaning and maintenance. Everything is encompassed in a single service contract.
Managed offices, on the contrary, are vacant spaces that are leased for a fixed term. The tenant here is responsible for fitting furniture, getting network infrastructure in place, and managing other essential services. The rent is not an all-inclusive contract and specifies only a stipulated amount for the empty office space.
Benefits and disadvantages of a serviced office space
Serviced office spaces are ready to move in. You can set shop immediately after leasing the office. Therefore, it is an extremely convenient option. It is almost a no-fuss office that provides all the amenities under one roof and is efficiently managed by the service provider. The service contracts are also flexible and people can also pay for the number of desks or equipment used. Besides, the all-inclusive pricing is one of its biggest advantages
There are also some disadvantages. Due to the shared nature of work at a serviced office, you may not get privacy for meetings or might have to make prior appointments to get conference rooms ready. Moreover, it does not reflect your brand’s unique identity.
Benefits and disadvantages of a managed office space
In the case of a managed office, the tenant has full creative control over its aesthetics. It can be tailored to the needs of the business. Everything can be aligned to the brand image and service contracts are also available for the long term. It also gives complete privacy and allows businesses to operate at their pace.
However, the upfront costs for setting up a managed office can be quite hefty. It also delays operations and requires time and energy to completely set up the office. The long-term contract can also be binding if you suddenly want to move out.
Which type of arrangement is suitable for your business?
Every business is different from the other. Therefore, the requirements also vary. Before choosing an office space, you need to thoroughly evaluate your needs. If you feel that you do not have too much time to invest in designing the office or adding furniture and other amenities, a serviced office is the best option. It is a furnished office for rent and you can avail services to start operations immediately. However, the prices can sometimes be slightly higher due to the numerous services included in the rental package.
The managed office, on the other hand, provides a cheaper option in some cases. It helps to budget your office set up cost and you can gradually add things, as and when required. It also gives the freedom to manage costs and be creative.
There are plenty of office spaces for rent in Bangalore. Based on your specific requirements, you can start looking for a suitable space. Expert advice and help can be of great help as they can assist you in choosing properties that offer convenience and cost-effectiveness.