The influence your office has on your ability to work shouldn’t be underestimated. When considering which kind of space would best suit your business it helps to know what’s on offer. 

Traditional lease office

A traditional lease is a popular choice among larger corporations and established businesses of all sizes. It can be a great option for your company if you want an office you can call your own for a significant amount of time.

Contracts can be anything from three years to more than ten. A traditional lease entails a significant amount of control over a space: the tenant is in responsible for the fitout, the design, and the everyday functioning of the office. This means you’re in charge of creating the office of your dreams!

It’s worth bearing in mind that this entails a lot of responsibility. While the landlord will deal with building maintenance, anything that goes wrong ‘in office’ will be the tenant’s job to fix. There are high initial costs to consider (such as outfitting and legal fees) but a traditional lease usually works out at a comparatively low monthly cost thereafter.

Shared office

A shared office can either be a designated coworking space or an office in which a company rents out its spare desks. This means there will be at least two companies sharing the space which, if you’re a sociable bunch, can be a great thing!

The sense of community and professional atmosphere offered in a shared office can be a big plus, particularly if you’re a freelancer used to working alone in a cafe. Companies often look to share an office with others from a similar sector (although of course not direct competitors!) which can lead to a helpful exchanging of skills.

Shared offices are usually on a month-to-month contract so a brilliant option if you’re looking for something flexible. However they can lack the feeling of ownership and some of the services available in other kinds of offices. You also won’t get the same level of security due to the need to share the WiFi network and workspace.

Serviced office

A serviced office does what it days on the tin and consequently can be the most hassle-free of office spaces. You’ll have a large range of services available to you, such as: a receptionist, a postbox, a security guard, IT support, meeting room access and more.

Consequently, serviced offices can be an expensive option but an all-inclusive contract can be brilliant for businesses that need a high functioning office yet don’t have the time or resources to create it themselves. You’ll miss out on the customisation possible with a traditional lease but have much fewer responsibilities to handle.

A serviced office can be a great fit if you want a little less commitment than a traditional lease but a little more control than a shared office. Of course, it can save you a whole lot of time which can be invaluable.

Deciding upon a workplace can be a difficult task but considering the strengths and weaknesses of each, in relation to the needs of your company, can be a big help. Whatever your decision it’s bound to be for the right reasons and it’ll your business should be sure to feel the benefits.

AUTHOR: Lilli Hender writes for an office space marketplace for shared, serviced and tradtional leased offices.