What does serviced office mean? And what is co-working? What is the difference compared to traditional offices?
January 22, 2018
Everything you wanted to know about the fastest growing segment of the office market in 6+1 points
1. What is a serviced office? The essence of it is very simple: it is enough to say how much space you need and for what period, the rest can be entrusted to the service provider. Your office could be a one-man office corner - literally - or a whole floor base. Next day you can move in, get straight down to business and welcome your partners; your office is fully furnished, have ‘plug&play’ internet, computers, coffee machine and everything else is working. If you have not tried yet, it can be surprising: it’s like a Ginie of the lamp. It fulfils your wishes like in a fairy tale. This might be the reason why serviced office sector is the most dynamically and professionally operating segment in the domestic real estate sector. Advantages over traditional offices: speed and flexibility. In the case of renting a traditional office, months may pass until you can actually move to the selected and furnished office space, not to mention the investment costs you have to pay.
2. How do serviced offices work? Effectively. All basic and additional office market services are available, but only if you ask for it. You have option for everything available on the market, but you only put them into the basket when you really need them. Advantages over traditional offices: Your wish list can be changed anytime, you do not have to plan ahead for years, and there is no punishment for ‘pre-marked but unused services’.
3. Where are the serviced offices? Most of them in the business districts, however more customer friendly and smarter providers offer serviced offices at different points of the city - tailored to different customer needs. One of the most streamlined companies in the serviced office segment is NEW WORK Serviced Offices (NWSO), operating seven different locations in Budapest and Budaörs, with different designs and varied options.
4. How long can a serviced office be rented? Is there any restriction regarding the rental period? It is the most flexible office space solution for various periods. If you only need it for a month or for years: you got it. Meanwhile the rented area may grow or decrease - just as your business and demand changes. Everything is up to you. Advantages over traditional offices: unlimited flexibility. Note: The standard contract for an office space does usually have you bound for 5 (!) years.
5. How to contract for a serviced office? Exactly as this service works: the contract is typically short, one-two pages, modular – includes only what you need - and there is no fine print at the bottom of the page. Keep calm, you can sleep relaxed. Advantages over traditional offices: fast and easy to overview. No legal counsel needed.
6. Serviced office is ideal for whom: Tenants are typically small and medium-sized businesses, start-ups, software and game developers and there are lawyers but you even find some banks and financial service providers too. Practically anyone who wants to work in a professional environment, provide a fine welcome for customers and guest or simply redeem the world. Advantages over traditional offices: serviced offices are not sector specified, there are no ‘preferred’ tenants. You are welcome! – And they mean it.
+1. What is co-working? The core of it: small businesses with 1 to 5 employees working in one space, inspiring each other - but there is also a separated corner if you need an hour of thinking on your own. It is as flexible as the serviced office but it is less formal and more open. Moreover it is not necessarily stationary – that was unrealistic earlier. NWSO operates co-working offices with the label ‘Labs’. They know exactly that startups don’t necessarily have much sources, but in many cases they have visions, millions-worthy. NEW WORK Labs invented a card-based membership system that can be purchased for a month or even for a week. This card can be used in all NEW WORK centers in Budapest. Just like a season ticket for public transport: no matter how and where I want to travel today, my card is valid. Advantages over traditional offices: there is no easier and simpler way to work in a fully-equipped office environment.
