Flexible office space is a hot topic in the office market these days. But what is flexible office space? Technically, office this is flexible in terms of lease length, size and configuration, it is considered flexible workspace. This is because a conventionally office usually have long lease, the office unit, hence size of the office, is fixed during the lease term.
Today’s business environment is changing ever so quickly, business needs to adapt faster not only to stay ahead of competition but sometimes for survival. The need for flexible workspace is especially strong for cities with extremely high rental costs, like Hong Kong, Beijing, Shanghai, Tokyo and Singapore. They are the top 5 cities in rental costs in Asia Pacific with Hong Kong (Central) topping the list at almost USD1800 per square meter every year. That means, if you are in Hong Kong and you mis-judged your headcount and space requirement for the next 3 to 5 years, you will incur a huge loss on both the rent and capital expenditure in fitting out the space.
So here is where flexible office space come into play. Yes, it is going to cost more than lease conventional office space, but you are, in effect, hedged against sudden drop in space requirement. And there is no capital expenditure because the fitting out is done for you.
Here is how easy it is to get your flexible workspace:-
1. Visit serviced office in the district of your choice.
2. Work with the salesperson with your size requirements (or more precisely the number of persons) and when you will need to start using the office.
3. Consider how long you want to commit. Generally for a serviced office, you can do 1 month and up to 12 months.
4. Once you have made up your mind which room you like, the length or lease, there will be a contract to sign. The contract for flexible office space is usually much simplier than the lease agreement for a conventional office, so some can opt not to have legal advice to save even more cost.
5. Once contract is signed, all you need is move in on the start date. If there are Internet or phone line you need to relocate to the new office, the IT team will provide support to make the move smooth and quick.
If flexible office space sounds like something good for your business, give us a call or email to schedule a visit.