Managed offices and services offices are two types of office space that you can lease. But what is the difference between them? And which one is right for you? This post delves into the main differences and the benefits of both types of office.
What is a managed office?
Managed office spaces are essentially empty offices that a tenant can completely customize to fit their needs. Unlike a traditional office where the tenant has to buy furniture and arrange decorating themselves, the tenant pays the managed office provider to fit out the office space to their specs before they move in. This may include everything from installing flooring to moving in furniture.
A benefit of managed offices is that they can be completely customized to include the type of furnishings and equipment that you need. They can also be custom-built to reflect your brand, which could include using certain colors and materials.
All the services and utilities are maintained by the managed office provider. You don’t have to handle repairs yourself and services like cleaning may also be provided.
Unfortunately, the convenience of a managed office does come at an added cost. You generally have to pay for the fit out and an ongoing service fee along with your lease to pay for maintenance.
What is a serviced office?
A serviced office is slightly different to a managed office. Instead of renting a blank canvas that you can customize to your own specs, you rent a pre-furnished office that already has furniture and decor that has been chosen by the office provider.
You don’t have to go out and buy furniture or worry about decorating the space. In fact, you can move in and start work straight away. This can be very convenient for many businesses that don’t have time to wait for an office to be furnished.
Serviced offices are also fully catered for like a managed office. The big difference is that some areas like reception lobbies, break rooms, kitchen facilities or bathroom facilities may be shared with other companies – a serviced office building may rent out five offices to five different companies, however certain facilities may have to be shared by all of these companies.
Serviced offices are generally much cheaper than managed offices, while still providing the same convenience. The downside of them is that you cannot customize them to cater to your unique needs or reflect your brand identity – you must deal with the furniture and decor that you are given.
Which is right for me?
Managed offices are typically much better for companies that want to build unique spaces. Facilities are still managed for you, but you have more of a say in what these facilities look like so that you can present and operate your business in a way that suits you.
Serviced offices are much cheaper and much quicker to move into. They come with a lot of convenience, but without the personalization. They are often better suited to startups than established brands.
