Serviced office
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Office types
A serviced office is an office or office building that is fully equipped and managed by a facility management company, which then rents individual offices or floors to other companies. Serviced offices, which are also referred to as managed offices, business centers, or executive centres, are usually found in the business districts of large cities around the world.
Companies offering serviced offices are generally able to offer more flexible rental terms, as opposed to a conventional leased office which may require furnishing, equipment, and more restrictive leases. Because no long term commitment is usually required, serviced offices are especially popular with business startups and small scale representatives of large companies. Space is normally flexible, allowing for additional space to be allocated at short notice, should the size of an individual business change.
Serviced offices often allow tenants to share business machines and other resources, providing reduced costs and access to equipment which may otherwise be unaffordable. The facility generally includes security, reception and mail support. Some serviced offices primarily offer hot desks. There may also be additional facilities such as conference rooms, meeting rooms, break out areas, and services such as secretarial support; these are often available on a pay-per-use basis.
Facilities and services typically include:
- Full time security
- Insurance
- Heating, air conditioning and other utilities
- Telecom connections
- IT infrastructure and internet connectivity
- Furniture
Serviced offices may offer benefits over conventional offices for new or dynamic businesses, including:
- No / low start up costs
- Prestigious addresses
- Flexible leasing
- Maintenance
- Immediate availability
Serviced offices can provide substantial savings for individuals or small groups; however, once a company's group becomes too large, conventional space becomes more economical.
