With increasing numbers of professionals working remotely, short-term workspace has become a necessity. The market is expected to grow by 11% per year by 2025. If you’re unfamiliar with the term, a short-term workspace rental is somewhere you can work without lengthy contracts.

Short-term office hire has become synonymous with flexible workspaces thanks to short-term leases. This office environment is beneficial for several different businesses, ranging from freelancers looking for professional office space to large businesses expanding their reach.

What are the short-term office space solutions?

There are several different types of short-term office space available. These are largely dependent on your business size and requirements.

Coworking and hot-desking

As two of the most common short-term office types, coworking, and hot desking workspaces are ideal for many different professionals.

A coworking space is a shared office where professionals from different businesses work alongside one another. Hot desking spaces are typically found within coworking spaces.

These allow professionals to work whenever needed. This can be beneficial for organisations looking to establish a better work-life balance for their employees.

There are many benefits of coworking spaces. These include more flexibility for your team, improved networking opportunities and increased productivity. One study found that  46% of people were more productive since joining a coworking space.

Differences between hot desking and other short-term solutions

The terms hot desking and coworking are often used interchangeably. However, there are many differences between hot desking and other short-term solutions.

• Flexibility: Hot desking allows professionals to work from any desk in multiple locations. Hot desks are bookable for as little as an hour. While short-term coworking spaces are available, they usually require a slightly longer commitment than hot desks.
  
  
• Space: Hot desk users can book any desk they like, often a different desk every time they visit. Those working from coworking or serviced offices will be assigned their own desk.
  
  
• Cost efficiency: Depending on the location and frequency of use, hot desking is sometimes more cost-effective because of flexible terms. In contrast, coworking and serviced office spaces often include additional amenities. For example, meeting room use and phone lines.

 

Day offices

Day offices offer the flexibility of a short-term office hire, with the convenience, privacy, and amenities of a serviced office. Day offices can also be booked by the hour if a full day is not required.

This type of flexible working space provides access to a serviced office space, allowing users to instantly start working without the huge costs of purchasing equipment.

Day offices are ideal for people who need optimal flexibility. They are particularly beneficial for professionals who work from multiple locations. They can sometimes even be booked on the day they are required.

Differences between day offices and other short-term solutions

Similarly to hot desking, day offices offer several differences from other short-term workspace solutions.

• Space: Workers can typically choose any available office they like when booking a day office. If they were working from a coworking or serviced office space on a long-term basis, they would be given an allocated desk space.
  
  
• Privacy: Day offices offer more privacy than open-plan coworking spaces or serviced office solutions. Day offices can be booked for focus time, enabling you to work in a quiet work environment.
  
  

Meeting rooms

Meeting rooms are essential for many businesses. For those without a permanent office space, renting a meeting room, training space, or conference room is a great option.

Differences between meeting rooms and other short-term solutions

There are clear differences between meeting rooms and other types of short-term workspace.

• Space purpose: Coworking spaces and day offices are often used by a single person to work from. Meeting rooms are designed for collaboration between several people.
  
  
• Cost - meeting rooms can be booked for as little or as long a duration as you need. This makes them more cost-effective if you simply need a meeting room for an hour or two.

 

Differences between training rooms and other short-term solutions

Like meeting rooms, training rooms are different to other solutions like coworking and serviced office space.

• Space purpose: Training rooms are typically equipped with several desks, whiteboards, and screens for learning. Coworking spaces or day offices are used for solo work and do not usually have these types of amenities readily available
  
  
• Size: Depending on the guest numbers, training rooms can be much larger than day offices. Training rooms are usually bigger than traditional meeting rooms as they often need to hold more people.

 

 Differences between conference rooms and other short-term solutions

A conference room is typically much bigger than a meeting room. Again though, conference rooms will be quite different to other short-term workspace solutions.

• Space purpose: Conference rooms are designed to hold large numbers of people. They usually include more seats, AV equipment, and screens for presenting. This is very different to the purpose of community workspaces or day offices.
  
  
• Availability: Many coworking spaces have conference rooms. If you’re already using one, you might find it more convenient to book a conference room there,rather than a dedicated conference room elsewhere.

 

Differences between boardrooms and other short-term solutions

In line with other meeting room types, the ideal boardroom for your business will depend on the requirements.

• Space purpose: Boardrooms are usually smart spaces intended to impress your guests. This is in contrast to short-term coworking space, which usually comprises an open plan setup.
  
  
• Size: Boardrooms come in all shapes and sizes, depending on how many people you need to host. Day offices are much smaller and hold just one or two people.

Serviced offices

Serviced offices allow companies or freelancers to rent office space they need for as long as they need it. You typically pay a flat fee, which includes everything from rent and utilities to furniture and essential equipment.

Customised office space

If you’re looking for the convenience and flexibility of a serviced office but would like to add personality, a customised office is the perfect solution.

They are often available in serviced office buildings and provide all the benefits of a serviced office space. However, they also come with the ability to customise and add your branding.

Flexible vs traditional office spaces

Flexible office spaces, particularly flexible coworking spaces, have become synonymous with the way we work. But traditional offices still have a place for some businesses.

A flexible workspace is designed to offer optimal versatility for workers, from where they work to how they work. They are typically housed in shared office buildings with other businesses, while a traditional office is a private space solely used by one business. 

• Desk space: Most flexible workspaces enable people to choose where they work. This could be a dedicated desk, break-out room, or hot desk. A traditional office does not offer this flexibility.
  
  
• Amenities: Flexible workspaces often include a variety of amenities like furniture and equipment. Traditional offices typically only include the building.
  
  
• Duration: Flexible workspaces enable greater agility with the ability to rent spaces for as little as a day. Traditional offices are usually rented over a few years.
  
  
• Cost: Flexible space is cost-effective and can be scaled up or down depending on business requirements. However, traditional office space must be paid for, regardless of your changing requirements.

 

The importance of flexible workspaces and short-term office rentals

With the monumental shift in how and where we work flexible workspaces have never been more important. A study by JLL found that by 2030, 30% of all office space will be used flexibly.

There are several reasons for this growth, with many different businesses already using flexible workspaces. Other benefits of short-term workspaces include:

• Greater flexibility
• Opportunity for innovation
• Increased collaboration
• Increased productivity
• Cost reduction
• Morale boosting
• Increased agility
• Improved visibility
• Opportunity to scale

 

It's also worth considering other, less tangible benefits to short-term workspaces. For example, employee morale may be boosted because of the added flexibility that comes with these workspaces.

Which is the best office space solution for you and your business?

Finding the right office space for your business is a big decision and should be carefully considered. However, one thing is clear: flexible working is here to stay. Opting for a flexible coworking space could be a great decision for your business.

Whether you’re looking for short-term office space to rent as an individual or you’re seeking to move your whole business, find the perfect short-term workspace with Regus.