Do you need a short term office rental? If you’ve been thinking about it and how it can help your business thrive, then read more here.
Renting out an office to use as a temporary workspace is nothing new. But the niche of flex spaces and short term leases is being coopted by the increased flexibility, affordability, and convenience of the coworking space.
While there were fears surrounding the viability of coworking and its long-term survival in the face of a growing pandemic, the implementation of rigid sanitation rules, private spaces, and smarter common area designs has allowed coworking spaces to remain important hubs of cooperation and networking throughout the world.
Furthermore, as we move past the short-lived era of remote-first work, many companies are reconsidering their stance on work-from-home and work-from-anywhere policies and are looking for ways to accommodate workers who enjoyed the time away from the office, whether at home or at a closer, more convenient workspace.
Coworking provides an alternative to traditional offices, other flex spaces, and the comparatively unattractive options of working from the corner of a busy café. But there are other, more complex reasons why coworking is the ideal choice for companies looking for a short term office rental.
Why a Short Term Office Rental?
Smaller companies and startup teams stand to gain the most from reinvesting their office budget into a coworking space, rather than taking on the risk of seeking financing for a long-term lease, or looking for less flexible terms.
Coworking space memberships can be canceled or renewed on a monthly basis and allow for maximum flexibility to account for new talent and month-to-month team goals. By comparison, you would usually be hard pressed to find a lease on a commercial office space for less than six months. Longer leases command larger sums, which means more upfront payment in the form of a sizeable down payment, as well as time spent securing financing.
Carefully managing your business’ working capital is an essential management skill at any point in a company’s growth, yet it is especially crucial when first starting out, as how and where you choose to invest your profit counts the most towards accelerating your company’s development and getting it to the peak of the local food chain.
This means companies just starting out should always seek to prioritize flexible and affordable options, so long as these do not require a compromise in quality or productivity. And luckily, coworking usually means the opposite. Coworking spaces tend to improve employee productivity, increase innovation, and lead to greater employee satisfaction.
Coworking vs. Traditional Offices
The first and most obvious benefit is cost. Setting up an office of your own is tremendously expensive. Even rental spaces typically won’t be fully equipped with everything you need to get started.
Coworking spaces are in an incredibly competitive market, and amenities are one of the ways these spaces try to set themselves apart from the competition. Signing up for a spot in a coworking space usually means plenty of business amenities, from simple gym memberships to staffed cafes, ultra-high-speed Internet, private meeting rooms, and nearby quality restaurants or food-to-go.
Aside from the costs of getting set up, an office space of your own takes a considerable amount of time to get set up. Coworking spaces have the benefit of zero downtime – you can arrive via plane and get to work in your new workspace on the very same day, without the logistical challenges of getting an office up and running to your specs and requirements.
Why Not Work from Home?
If comfort and convenience are so important, why not take full advantage of the remote workstyle and work from home?
Because there are still distinct cons to working from home, especially if you do not have an office or study of your own or need to tend to day-to-day distractions on a regular basis. While some have thrived while working from home during the pandemic, most people were woefully unprepared, struggled to adjust, and rarely managed to thrive as a result of their sudden relocation.
Productivity did surge in the early months, but much of that was due to eliminated commutes, and how life and work tended to bleed together while working remotely, leading many to spend more hours doing work from home than they usually would in the office. A lot of workers faced burnout and stress issues.
It is worth mentioning that much of that was due to the unique situation of being faced with a pandemic, the stressors of quarantine, the personal and economic impact of COVID, and long-term social isolation. Nevertheless, there are people who prefer not to spend most of their work time working from home, with or without COVID. Coworking spaces act as the ideal alternative for many of these people.
Coworking and Virtual Offices
Another crucial benefit to the coworking space is that it meshes perfectly with teams that operate mostly remotely, or from various hub offices throughout the region. If you have clusters of team members working together in different states or countries, then a coworking space can act as your company headquarters in the state your business is based in.
Rather than renting out a commercial address you would barely use, you can reap the benefits of legitimacy and trust that come with a proper commercial address by setting up a virtual office for your company.
Some coworking spaces allow businesses to use their space as a receptionist’s office for the company while providing the service of relaying communication and packages to the corresponding teammates. Coworking space conference rooms are also a great way to receive and host client meetings before returning to the regular remote schedule.
Finally, using a coworking space as a temporary rental office allows fully remote or remote-first businesses to make use of a physical office for onboarding and training, as well as teambuilding activities, brainstorming sessions, and end-of-the-year recaps.
A True Melting Pot
The unspoken benefit of a coworking space is what some might consider one of its greatest flaws: the fact that you are never alone.
But small businesses and teams can thrive in these multidisciplinary environments, where interactions between professionals from all walks of life can lead to interesting conversations, potential partnerships, and high-quality networking.