Infographic: Which Type of Office Should I Rent?

As the office undergoes its most disruptive shift seen in recent times, choosing the right type of office space for your business can be tricky – especially amid global uncertainty, Covid-19 regulations and, of course, office space jargon.

To help you decide which type of office is right for your business, we've created a step-by-step flowchart quiz to save you time. You can download the infographic, or learn more about your options below.

The difference between traditional, serviced and managed offices

There are three main types of office space; traditional office space, serviced office space and managed office space. The latter two fall under the umbrella term of flexible office space.

Traditional office space

The term ‘traditional office space’ is often used interchangeably with ‘conventional office space’. As you might have guessed, it’s the more traditional way of securing your business a home. 

Term length: You’ll usually need to commit to a lease of three years or longer.

What’s involved: You’ll shoulder the responsibility of space planning and furnishing the office yourself. The upside is that your office can be completely personalised, down to the last detail, but the downside is that you’ll need plenty of upfront capital to build out the office. Plus, longer contracts give you no wiggle room if your circumstances (or taste) change.

Great for: Bigger businesses who are confident in their long-term space requirements, can afford large amounts of upfront capital outlay and want complete control over the process of building out and managing their own space.

Not so great for: Fast-growth startups who expect their headcount to double, want collaborative atmospheres and don’t want the hassle of fitting out and managing their space.

How you’ll be charged: If you opt for traditional office space, you’ll be charged per square foot per annum. You’ll also pay your own business rates and landlord service charges for the building maintenance. It will be up to you to procure all the services you need in the space, too.

As the world of work evolves, how can you stay competitive?

Get your monthly dose of workplace insights, productivity hacks and business leadership ideas - delivered straight to your inbox.

Serviced office space

Serviced office space is often colloquially referred to as coworking space, but it’s a lot more than that; from private offices through to studio space and fixed desks. Ultimately, it’s the new-age, ‘workspace-as-a-service’ set up made famous by providers like WeWork, The Office Group and Regus.

Term length: The average term-length is 12-18 months, but it’s really common to opt for a monthly-rolling contract. It can even be a great stop-gap solution for larger corporates who want overflow space or don’t want to be tied in to anything long-term.

What’s involved: Serviced office space takes away the burden of setting up and running an office – from maintenance to cleaning. They come with additional benefits which range from free fruit through to comprehensive events calendars. They’re geared towards improving productivity, wellbeing and collaboration through design, amenities and social initiatives.

Great for: Startups and scale-ups who don’t know what their headcount is going to be in a year (or even a few months). They’re quick to find and quick move in to, and you won't have to pay any upfront fees.

Not so great for: Businesses who want to brand their own space or have exclusive use of meeting rooms, as amenities and breakout spaces tend to be communal.

How you’ll be charged: If you opt for serviced office space, you’ll be charged per desk per month – this covers everything.

Managed office space

Managed office space is a blend of the above two options. It has all the service benefits of coworking, but with your own identity and front door.

Term length: You’re usually in the space for one to five years, and because it’s tailored to your needs, you’ll likely want to stay.

What’s involved: You'll work with a managed office provider to achieve a personalised space that they’ll deliver for you. You’ll have a say over design, furniture and branding – think neon typography on the walls flashing your company's name or sleek signage in the lobby that welcomes your guests.

Great for: Bigger, more established businesses who need some flexibility in term length and want to make their office a home, but don’t have the time, expertise or appetite to take on the burden of delivering a fully functional office space themselves.

Not so great for: Startups and scale-ups who value being part of a community, networking or collaborating with other similar-stage businesses.

How you’ll be charged: If you opt for managed office space, you’ll be charged per square foot per annum, but like serviced space, this covers everything.

Finding the right office for your business

There really is no one-size-fits-all when it comes to office space. Every business needs something different. Whatever your requirements, the Flexible Office Solutions team can help.