5 Types of Office Space: Which One Suits Your Needs Best?
Not all offices are created equal. That’s why so many landlords and real estate developers offer a range of office spaces to their clients. Depending on the needs and size of your business, one type may be more suitable over another. Here are the top five to consider before signing a lease:
- Private Office
Most business owners envision working in a traditional private office. That’s why these office spaces remain some of the most in-demand commercial real estate properties on the market. Even though you may share a building with other tenants, a private office still provides a lockable, secure space many business owners prefer.
Private offices are popular with both self-employed entities and large corporations. They are quiet, cozy, and offer a sense of confidentiality. Best of all, renting a single suite or floor may help save money over leasing an entire building.
- Co-working Office
Many small businesses don’t have the budget to lease a private space; however, they still want the ability to meet with their colleagues and mingle with others. A co-working office is a great compromise. Unlike traditional offices, companies only rent a desk or room on an as-needed or short-term basis.
Co-working is an excellent option for virtual employees. These workers would not be able to meet face-to-face otherwise, but a co-working office makes it possible to have a space to meet with clients or work on projects. The cost to rent a co-working space is usually much lower than other options.
- Virtual Office
Some companies don’t have a designated physical office. Some employees may work from home, while other workers may spend their days in the field. Either way, a virtual office provides these businesses with the amenities of a traditional office without the commitment of renting a building.
Most virtual offices offer reception services and handle telephone calls. Some even provide conference room rentals. Virtual offices also tend to be the most affordable office type. Those looking to make a good first impression with potential clients without going over budget should consider this up-and-coming office solution.
- Serviced Office
Companies looking for a full-service space should consider a serviced office. These offices offer the most amenities out of all the other options. Mail-handling, call forwarding, and reception are just a few of the services provided.
Serviced offices come fitted with furniture, WiFi connections, and telephone service. Even though rental rates may be higher than other offices, move-in costs are generally much lower. They’re popular with businesses that need additional support services but don’t want to hire more employees.
- Home Office
Not every company has a large budget to rent an office. Start-ups and small businesses may benefit the most from a home office. There’s no worry about signing a long-term lease, and it’s also the cheapest option available.
Although convenient, home offices are notorious for being noisy, cramped, and full of distractions. Furthermore, home office expenses add up quickly and are not always tax-deductible. Many companies with home offices eventually rent co-working spaces or virtual offices to complete major projects or meet with clients.
An Office for Everyone
Every brand can benefit from a designated office space, including start-ups and established corporations. Offices help promote brand culture, boost productivity, and provide much-needed social interaction. With plenty of options out there, every company can find an office solution that best suits their needs.