A ‘serviced office’ is also known as ‘business centers, executive centers or suites and managed offices’ in different parts of the world. Typically found in the major business districts of major cities around the world, a serviced office can be a large office space or an entire building that is serviced and managed by a facilities management company, renting cubicles from individual office or floors of a building to companies. and companies. Serviced offices range from sizes that accommodate a single person to groups of people in a single office space or adjoining spaces, depending on the size of the workspace and the requirements of businesses.

This is why an office is essentially known as a ‘pay as you go space’.

Unlike rented spaces, where the company not only pays the rent, in some cases in a contract agreement of three to five years, and equips them with infrastructure such as chairs, desks, workstations, telephone instruments, printers, machines From fax machines, copiers, conference and meeting room equipment, etc., a serviced office generally provides the essentials in facilities and services that a company needs to do business. Certain areas such as the reception, pantry, kitchen and utilities may be shared by the companies that use the facilities. In addition, some serviced offices or business centers provide IT support services and recruitment services to assist serviced office tenants.

Shared infrastructure provided by a serviced office or business center include:

• Facilities and work space

• Flexibility

• People

• Technology

Serviced offices offer many advantages up front, including:

• The location of the office in the main commercial district: helps to convey a good impression about the company, which improves its reputation.

• Experienced customer service and office support team: A corps of experienced staff, such as reception, secretarial, IT support, office maintenance, etc., is ready to keep your workspace running efficiently. There is a double-edged advantage in not having to hire employees and managing recruitment and retention issues.

• Space ready to go in an instant – allows for more focus on business activities without having to worry about setting up the office infrastructure from scratch

• Simpler and easier lease documents: Unlike leases on commercial buildings and office space, workplace office contracts are very ‘user friendly’ with no intricate legal details; Also, there are no stamp duties involved to record documents, which saves costs.

• Flexibility in tenure: Long-term rentals limit the flexibility to keep the business in a current location for a specific period of time. If a business hits a recession, a lapsed deal can cost more in additional expenses. Serviced offices offer the benefit of usage that can last anywhere from a month to a few weeks and up to a year, with long-term usage options thereafter.

• Ideal for both start-ups and fast-growing businesses: For a start-up, this is a great option to reduce start-up expenses; It also works well for a business that is expanding and needs additional office space quickly to keep operations running smoothly.

• Access to state-of-the-art equipment: by sharing the latest technological infrastructure, unaffordable expenses can be avoided

• Payment Flexibility: Regular monthly payments are freed from anticipated quarterly rental payments; Office service charges include general expenses such as lighting, water, insurance, etc.