How renting a serviced office can save you money

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How Serviced Offices Can Save Businesses Money

Serviced offices are improving the way businesses function. Organisations of all different sizes can now find genuinely flexible, high-quality office space that plays an important role in their growth and success. Exeid are committed to developing a national network and providing high quality serviced and managed workspace. With 46 buildings across 11 UK cities, all at a competitive price with great flexibility for companies to up and down size as required. This kind of flexibility gives organisations the ability to test new markets, expand comfortably and become successful.

Given the incredible benefit for organisations of all different sizes, people may often assume that serviced offices are an expensive option. However, there are actually a multitude of reasons why serviced offices are beneficial in terms of a company’s finance, as well as its growth and success. Businesses can actually save money by choosing a serviced office over a leased office space. Here are some of the reasons why.

  1. Pay for the Office, Not the Facilities

As opposed to renting a leased office, you only pay for the space you really need in a Serviced Office. Facilities like toilets, kitchens, meeting rooms and break rooms are communal, managed facilities. The Serviced Office provider takes care of these so that you only have to pay for the desk space/office that you use. This can provide a large saving for businesses, who would otherwise have to pay rent on the whole internal area.

  1. Already Fitted Out

When renting a Serviced Office, you won’t have to worry about chairs, desks, drawers or filing cabinets. In addition, the space will be decorated and can be configured on request. When you rent a leased office, you will need to purchase furniture as the space is typically an empty shell.  Fitting an office out can also prove very expensive as build work isn’t cheap, so there is a lot of time and effort, in addition to cost, saved in the process.

  1. Fixed Business Rates and Utility Bills

When renting a leased office, you will normally have to pay business rates and a number of utility bills for the running of the office. Business rates are a property tax which can change depending on the valuation of the property. Utility bills can increase as well. So, if you rent a leased office, your business and utility rates may rise, meaning another additional cost that you may not have prepared for. Serviced Offices, however, come with fixed Business rates and utility bills. During the fixed period of rental in a Serviced Office, you won’t be subject to any increases, as the Serviced Office absorbs these costs.

  1. Outsourced Staffing Costs

Serviced Offices often already have employed staff, such as Receptionists and Admin Staff. This means that you can benefit from in-house staff who can perform any ad-hoc task you need (on site) without the need to employ and pay wages for a dedicated person/s for the role. Sometimes, you may need to pay an extra pay-as-you-go fee for support service staff, but this is minimal compared to an actual wage.

  1. Flexible Space

Any company that wants to expand takes a risk renting leased office space. They cannot be certain that their company will definitely grow into the space, nor can they be definite they won’t outgrow it. Either way, by taking a larger space to grow into, they will be paying for it (and for a long time, as you are usually bound to a 3 to 10-year contract). Renting a Serviced Office normally rids you of this worry. Rent the exact size you need initially and the provider will typically allow you to jump to larger spaces in the building as and when your company grows.

  1. No Maintenance Costs

Maintenance costs will no longer be a cause of pain once you have moved into your Serviced Office. When the air conditioning packs in, the electricity goes or the toilet gets blocked, it won’t be your problem. In a Serviced Office, these inevitable troubles are covered by the workspace provider, meaning you are saving on maintenance. 

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