Short term office space: What are the Benefits and Risks?
It used to be such a huge issue to find a short term office space, of course, with the long term leases being the standard in the commercial property industry and DC coworking space. For most business start-ups, buying a building or settling for an expensive lease can take away required finances to run the basis of the business. Still appearances too matter when you are starting a new enterprise. Potential customers may question the ability of the owner to produce a high quality product or service if the business is housed in an unappealing place.
The benefits of a short term office space
1. One of the reasons for opting for a short term office lease is that they offer flexibility.
Here, you will basically sign up for a month-by-month contract, meaning that you can choose to get out of the office any moment you want to. This gives you a chance of trying out the idea of short term office space before you fully commit yourself to that space, maybe to a longer and a cheaper lease.
You also get the benefit of testing out a location, while at the same time being able to easily cater for changes in the number of staff you are supposed to employ.
2. Another huge benefit when it comes to short term office space is it tends to be hassle free. Whoever is in charge of the property, will do all the work for you, which include, organizing utilities to organizing security for the building to paying for dilapidation. The person who manages the property will also decorate the whole place and arrange all the desks in place. You should also find the executive meeting rooms available, as well as a reception plus a post service space.
3. Short term office lease also tends to be quick to move into. This is because the office is already fully equipped waiting for a tenant to move in, all you are supposed to do is for you to put down your deposit or just pay your first month’s rent, then you will be able to move in as soon as you can.
Short Term Office Lease Disadvantages
Essentially, by choosing a short term office to move into, you are simply relinquishing this responsibility, meaning you are paying a premium for someone else to actually do it on your behalf. In addition, rents can be higher because of this factor, but still, the flexibility and lack of administrative hassles can be more than enough to cover for that extra cost.