Should You Lease an Office or Rent Managed Office Space?
Whether you’re starting a brand-new business or watching an established company grow exponentially, it’s sure to be an exciting time. It’s also a moment that requires some reflection on the workspace that’s necessary to ensure that your business is always as productive as possible.
Questions about office space are important to consider. After all, the place that you set up shop has the power to set the tone for the ways that work will get accomplished. While there are many variables that enter into the equation, these days, it often boils down to picking and choosing between leasing an office or renting managed office space.
While leased offices and managed office space both have their advantages, the details can make all the difference. Understanding what makes each of these options unique is a good way to make sure that your choice aligns with your business goals. Ultimately, the decision can help a company to work seamlessly towards success.
Leasing an Office with Long-Term Goals in Mind
Businesses that lean toward leasing an office benefit the most when they’re stepping into their new space with a larger number of employees. The ability to distribute the cost of leasing an office is directly correlated to how large the company is and how long you intend to stay in one place.
There’s not a lot of flexibility in leasing an office and the cost can turn some companies away. Leasing an office can include anything from mid-size office buildings to entire high-rise blocks, if necessary.
Typically, business owners that are looking into leasing an office won’t do so without plans to stay a minimum of five years simply because the offset of rent wouldn’t be worth it over a shorter period of time. It’s not uncommon for larger companies to look at office leases that are upwards of ten years to make the most of the investment.
Responsibilities to Consider When Leasing an Office
Unlike a managed office space, a leased office requires tenants to be responsible for everything from service charges and rent to utilities, cleaning, and business rates. It’s important to take these additional charges, as well as the deposit and potential land taxes, into consideration before signing a lease. Contracts often lock companies in with very little wiggle room if changes are necessary once they’re signed.
Because there are so many expectations when you lease an office, it’s important to anticipate the rigors of the negotiation process for this type of transaction. Questions of lease duration and options to sublease are often worked out between a company’s legal team and the landlord—all of which can take some time.
Leasing an office is not for those who are rushed to find space. It can take up to six months from the time you start searching for the perfect space to sign on the dotted line.
The benefit to being patient when it comes to leasing an office lies with the options available once the lease is established. People who move their business into leased space have the last say on the ways that the office will be arranged, what furniture will be used, and the overall vibe that employees and visitors will experience.
Enjoy the Flexibility of a Managed Office Space
Companies that are on the smaller side or ones that could simply benefit from a rental option with greater flexibility will often find that a managed office space is just the right choice. Managed office spaces are notorious for being convenient and easy to customize in terms of rental duration.
While the vast majority of managed office spaces are rented out for a year at a time, there are frequently options for tenants to go with a month-to-month rental plan. For those who are looking to stay a bit longer, two-year rentals aren’t out of the question, either.
It’s this type of flexibility that makes a managed office space ideal for a growing company. There can be a lot of unpredictability in business, but when it comes to managed office space, you’ll know exactly what you’re signing up for!
What to Expect When You Rent a Managed Office Space
Unlike leased offices, a managed office space doesn’t come with a significant turnaround time. Instead, tenants can move in almost immediately after signing. There’s often flexibility within the contract to extend or shorten your stay if it’s necessary, too.
People who invest in a managed office space will find that there’s no reason to worry about designing or building entryways, kitchens, or workspaces. A managed office space comes furnished with the office gear you’ll need to get started, making the move-in process easier than ever before.
Many companies that choose to rent a managed office space do so because it means that they won’t have to worry about additional expenses related to cleaning or utilities. Instead, tenants pay a set cost per desk and all of the rest tends to be included in the monthly rent
In many ways, this type of office setup is perfect for companies that aren’t entirely sure how quickly they’ll be growing. Business owners that don’t want to risk tying up cash flow will find the flexibility of this option brings peace of mind to the rental process.
More often than not, people who are willing to take a look at managed office spaces will find that it’s possible to access the best of both rental worlds. It’s entirely feasible to find a space that comes with the functionality and features necessary, paired with the upscale aesthetic of a leased office.
When You’re Trying to Decide, Let Bevmax Office Centers Help
Finding the right managed office space in Manhattan doesn’t have to be overwhelming. At Bevmax Office Centers, we know how to match businesses with spaces that are designed to inspire great work at just the right price point.
We proudly service a variety of locations and our team of experts is ready and waiting to show you just how much value comes with a managed office space. Reach out today to get a quick quote and start moving your business forward!