Serviced or Leased Office: Which is Right for Your Business?

The concept of ‘the office’ has been on a real journey of evolution in recent years.

Regardless of the pandemic’s impact, businesses were already busy redressing how they used offices in a bid to utilise them more effectively in the modern age.

Serviced offices have played a vital part in that evolution and there’s a lot to back up the belief that they’ll continue to be a growing presence in the office landscape as increased demand continues. 

But are they the way to go for your business? After all, what one company needs from its office can be very different to what another organisation values.

Both serviced and leased offices have their own list of advantages so before you commit to either, we've weighed up the pros to help identify which is best suited for you…

How much time have you got?

Time equals money and that couldn’t be better exemplified by the debate of serviced office or leased office.

Ask yourself ‘how soon do I need to be in this new office?’. The time and effort involved in getting into a leased office is generally greater than if you opted for a serviced office, which can be ready to move in almost immediately. 

But that’s not to say the extra effort of leasing an office doesn’t come with its own rewards, such as greater flexibility and stability, and with FI Real Estate Management, we know what’s involved to make the process as swift and stress-free as possible. With direct access to landlords, we can get any questions answered quickly and with transparency. 

Actually signing the lease may not be an overnight thing, but once you’ve identified the leased office you want, we can get you in there on a temporary licence, allowing you to do what you do while the leasing agreement is finalised. 

What you get and what you pay for

With a serviced office, almost everything you need to operate is set up and ready to go. That includes the Wi-Fi, the desks and chairs, the air con, the ability to brew up; in fact the only thing missing is you and your computer.  

Meanwhile, leasing an office can be a comparatively more time-consuming exercise, but it’s time well spent. 

Leased offices: Big statement, big savings

When you lease an office, you’re in control of virtually everything - the furniture, the look and feel, what goes where. 

Want to paint that wall bright pink? Go for it. Don’t like the look of those carpets? Rip ‘em up. Want to change the name of the Wi-Fi network to something crazy (or more likely, your company name)? Ain’t no-one stopping you and FI Real Estate Management can shift many hurdles by offering bespoke fit out to help make your ideas a reality. 

As long as it’s all covered in your contract and the landlord is onboard, very little stands in the way of your leased office being kitted out exactly how you like it, and for large, aspirational businesses that are in it for the long haul, leasing an office that accurately represents the company is a major statement.

By leasing a permanent office that you’ll likely occupy for years, your company will benefit from increased stability and security, as well as lower costs and overheads in the long term. 

Leasing an office with FI Real Estate Management also means you’ll enjoy exceptional aftercare from our asset management team, dedicated to delivering the best service and advice during your lease.

We strive for a single point of contact throughout the entire process, and in almost every case, the person you do the deal with will be the person who manages your property during your occupancy. 

Short-term service

It’s easy to appreciate the appeal in having someone do everything for you with a serviced office – however, that ‘service’ comes at a price within your licence. 

Also, because a licence can expire at short notice, serviced office providers tend to offer space at a higher rate to offset the time it could be sat vacant while a new tenant is found. 

In a bid to attract the maximum number of tenants, serviced offices are often set up to offer broad appeal with conventional furniture and a neutral inoffensive décor. 

As such, making any changes to your serviced office is at the discretion of the provider and they might not be keen on your suggestions. Changes like painting walls a different colour or stamping your brand logo on the space will almost certainly require the provider’s approval. 

Pros at a glance

Now you’re a bit more clued-up on whether a leased office is the way to go, click the banner above to download our new eBook on how to lease office space that’s right for you or get in touch at www.fi-rem.com/contact.