A serviced office for rent is any type of company that offers business services to its clients, in exchange for some form of compensation. The term has often been used to describe any business that provides technical support services to businesses of all sizes. As well as some kind of financial institution.
In this article, we will explore the main advantages of flexible workspaces compared to conventional spaces. The support offered by service bureaus allows companies to outsource essential functions to them. Thus lowering the customer’s operating cost.
- What are some examples of serviced offices?
- Is it useful to rent a serviced office?
- What are the key components of a serviced office for rent in Dubai?
- What are the advantages of a serviced office for rent in Dubai?
- Understand the difference between serviced and conventional workspaces
- Some important elements to take into account when choosing an office space
- How can we help you find the space that fits your needs?
1. What Are Some Examples of Serviced Offices?
A common example of a service bureau is the local bank. Bank customers use the services offered through banks to manage their finances more effectively. In exchange for services such as loans, investment accounts, and even checking account services, the institution charges fees based on the schedule provided to the client.
Another example is computer and network systems maintenance. Many smaller companies prefer to outsource the care and maintenance of their internal network and related equipment to a company that offers a wide range of technology-based services.
In exchange for taking care of the system, the office often charges a standard monthly fee. An additional schedule of fees may apply if the customer needs help with projects that are not covered under the terms of the monthly agreement.
Increasingly, companies outsource tasks such as payroll processing and distribution to some type of service bureau. With this application, the office maintains information on each employee, including specific details on withholding and direct deposits. The data is used to prepare payroll based on the schedule provided by the client.
2. Is it Useful to Rent a Serviced Office?
Most payroll services also forward funds withheld for taxes to the appropriate taxing agencies. Also, they manage the process of depositing net pay into each employee’s designated bank account. As with many other types of service bureaus, the payroll service charges a flat fee, usually for each payroll processed, a figure that is typically much lower than hiring staff to handle payroll tasks in-house.
Along with the cost savings that can be achieved by using a service bureau, smaller companies also have the benefit of being able to project the image of being a much larger operation.
This can be useful when trying to protect customers, as the model allows the company to easily provide the same level of support to its customers that a much larger company could manage. When combined with lower operating costs, using a service bureau for several daily needs is an option that makes sense for many different types of businesses.
A serviced office for rent is a commercial space equipped with furniture and equipment. Instead of the traditional method of a business moving into an office suite and having to furnish and equip it, as well as organize nightly cleaning, food delivery, stocking supplies, and insurance payments, the space is attended.
3. What Are the Key Components of a Serviced Office for Rent in Dubai?
The company pays for a service to handle all the operational details of a fully equipped, up-and-running office so you can focus on running or setting up your business. Another key component of a serviced office for rent is that the lease is flexible to the needs of the business.
Typical lease terms for serviced offices for rent tend to be a few months rather than three, five, or 10 years for traditional commercial space. Thinking of an “instant office” with flexible lease terms is a good way to figure out what this type of arrangement includes.
A company gets all the details of creating a new office space for them. Although businesses must pay for this service, they often save money as there is no need to spend thousands of dollars on office furniture including cubicles and storage pieces.
Even the cost of furnishing a large boardroom with a table and chairs suitable for client meetings can be a significant purchase. Getting all the furniture to use at your preferred rental hours is another great benefit of a serviced office arrangement.
If a business only needs the space furnished temporarily, there is no need to worry if the furniture in that office will be suitable for the more permanent one.
Covering small details, like making sure food is stocked in the dining room and sanitary products in the bathrooms, is another advantage of having a serviced office for rent. The company makes decisions and negotiates prices with a catered office provider once, then, at most, has the small task of writing a check once a month.
4. What are the Advantages of a Serviced Office for Rent in Dubai?
Depending on the particular arrangement, the services provided may include a computer system that meets the requirements of the company. Some serviced offices for rent even include a receptionist or other administrative staff along with reception supplies and furniture.
The convenience of a serviced office for rent in Dubai can be advantageous for a business with a global reach. Office managers transferring from another branch to another part of the world can relocate with a minimum of fuss and save their working time to focus on business.
In 2019, there were an estimated 35,000 flexible workspaces around the world. By the end of 2022, the number of flexible workspaces is expected to grow at a rate of 6% in the UAE, and 13% worldwide, annually.
This clearly shows the increase in demand for workspaces with services. With the Covid-19 pandemic, this office trend has accelerated, as companies increasingly value flexibility.
5. Understand the difference between serviced and conventional workspaces
Serviced workspaces are fully equipped and managed offices that are rented out to organizations through online office space brokers. In this case, they are called flexible workspaces or services.
On the other hand, renting a conventional workspace implies committing to a long-term agreement and having a space exclusively for your business. At Connect Zone, both serviced and conventional workspaces are offered.
6. Some Important Elements to Take into Account When Choosing an Office Space
6.1. Agreement flexibility
Serviced office spaces for rent offer many advantages. First, tenants have no pressure with a long-term contract, which gives them the ability to opt-out. This allows businesses to see if the space suits their needs.
On the other hand, conventional office spaces are more suitable for well-established businesses. However, given the unpredictability and uncertainty that comes with starting a new business, monthly contracts can be highly appreciated by new businesses and startups.
In fact, the latter offers enough flexibility for companies that cannot take the risk of committing to a three-year or nine-year contract without knowing if it will be profitable. Therefore, monthly contracts with flexible terms are often more suitable for small or young companies.
6.2. Location flexibility
Employees and customers can easily access serviced offices for rent in Dubai. As they are often located in technology hubs or business centers. With a wide range of locations to choose from, businesses can choose the office that is most convenient for them and best suits their needs.
Plus, if all your employees are not in the same area, they can easily work from another serviced workspace. This flexibility makes it possible to considerably reduce transport costs and save precious time for employees.
Although conventional workplaces may be centrally located, employees have to commute every day to their dedicated office.
6.3. Immediacy of the move with turnkey office spaces
From a financial point of view, serviced workspaces can be very beneficial. Indeed, unlike conventional offices, there is no downtime at move-in as the space comes fully furnished, with Internet and all necessary equipment already installed.
Not only does this allow businesses to avoid the costs of having to remodel, renovate and furnish the space. But the immediacy of flexible spaces saves time and therefore money on rent.
6.4. No maintenance costs
When serviced office spaces are rented, maintenance is usually included in the rent. This allows companies, in the first place, to manage their budget with ease. Because they know in advance what fees they will have to pay. And second, saving money by hiring maintenance employees such as janitors, cleaners, and technicians. Those costs take about three years to absorb.
Therefore, if a company knows for sure that it will remain in the same place for a minimum of three years, renting a traditional office becomes the most profitable solution. But since this is often not the case, especially in these uncertain times, serviced workspaces are often the best option.
Especially for startups, flexible workspaces can accommodate growth. In fact, they offer companies the possibility of changing their rental contract to adapt to the growth of the team. So if a company wants to start by renting just a couple of tables and later decides to move to a larger space, it can do so with a serviced workspace.
The scalability of serviced spaces often translates into fewer square feet of floor space and therefore at a lower rent. As businesses can use the exact space they need.
This is also applicable to larger companies. Especially during the Covid-19 pandemic, as employees could not all be in the office at the same time. While companies renting conventional office space had to incur the cost of unused offices.
Therefore, as companies rent space based on the number of workstations needed, they can reduce their costs, especially when compared to renting an entire space in a rented office.
6.6. Premium services
Conventional offices allow you to control the structure and management of a company’s space. While serviced office spaces for rent include these aspects. In fact, they give employees access to pay-as-you-go facilities. Also, high-quality equipment, catering, and often include professional services such as receptionists, administrative staff, and IT support.
These services can be invaluable to new or small businesses that cannot afford to hire this type of staff directly. Not only does this allow companies to keep their overhead costs low, but it also allows them to save time on such tasks and focus on running the business smoothly.
So by giving employees access to well-maintained equipment and premium resources, serviced workspaces boost productivity and lower costs.
7. How Can We Help You Find the Space that Fits Your Needs?
In times of uncertainty, such as the Covid-19 pandemic, flexibility, agility, and reactivity are increasingly important. Therefore, it can be said that renting a conventional office is riskier. Since it does not allow that adaptability and could incur costs that could be avoided by renting flexible workspaces.
After looking at some advantages of serviced workspaces, it can be said that flexible workspaces allow for more efficient use of space, better use of resources as there is no need to renovate or furnish the space, less energy consumption due to space savings, lower rent, greater flexibility and, as a result, reduced downtime due to changes in an organization such as growth and staff turnover.