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The benefits of renting an office space

Posted on: 12th December 2022

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The benefits of renting an office spaceThe benefits of renting an office space

Despite flexible working models rising in popularity, the demand for office space has remained high. Aside from having a designated workspace for added productivity, work-life balance and coworking opportunities - renting an office space also has a number of other benefits.

Consequently, a 2021 report has shown that 41% of businesses expected to increase the use of an office space post-pandemic. From increased professionalism to establishing brand identity, renting an office has a wide range of exciting advantages for organisations from various different sectors.

However, whether this is your first time looking into renting a space for business, or you just want to learn more about the potential perks of renting in the future, finding the right office rental solution for your needs can be overwhelming. Let’s take a closer look at some popular benefits of renting an office space for your company.   

Why do people rent office spaces?

Understanding why people choose to rent office space is a great place to begin when it comes to discovering the unique perks that renting an office can bring. COVID-19 has changed the working landscape in ways never seen before and, as a result, flexible working models have soared in popularity.

Hybrid employment enables and empowers employers and employees to work remotely, and this in turn has revolutionised how companies use office space. Moreover, with a 2022 survey from the ONS stating that three-quarters of home and hybrid workers reported improved work life balance it is safe to assume that - in a large number of cases, flexible working arrangements are here to stay.

A significant range of industries have embraced the flexibility of hybrid offices, essentially letting team members to choose their own working pattern. This might involve companies adopting a 3:2 model with three days working from home and a minimum of two at the office, or only coming together for important meetings, conferences, or training sessions. Renting an office can play a key part in supporting employee work-life balance via hybrid working - something that is considered the new norm for companies all over the world. 

Additionally, if your company is classified as an SME (a small to medium sized enterprise) with under 250 employees you will typically require a smaller workspace than a large enterprise that employs more staff. A small rental office could therefore be the right choice for SMEs to ensure that employees have somewhere to work comfortably when not at home.

 One of the main benefits of renting an office space is that a rental agreement is typically a more flexible and lower risk arrangement than going directly to a landlord or purchasing a workspace outright. Options are incredibly important and renting gives your company the freedom to avoid fixed long term leases, while having the flexibility to change locations and scale up your space and services.

Similarly, if you choose to sell your office in future, doing so can often lead to further issues. With economic uncertainty showing no signs of abating, renting an office ensures you are less tied to a potentially expensive investment that you might no longer need in the future.

Furthermore, owning a property can often come with a whole host of maintenance responsibilities. Plumbing and electrical mishaps can be costly when your company has to pay the bill, but in a typical rental agreement, neither of these tasks will fall at your door.

Is it better to buy or rent an office space?

When researching how to rent an office space, it can be tempting to consider buying instead. Exploring the pros and cons of each option can also make it a little easier to reach the right conclusion for your company.

Choosing to buy an office is not a decision that should be taken lightly. You need to be certain that the price, size, and location of the office are all aligned with the needs of your business. So, while renting flexible office space can come with some caveats, it is often a favourable option if you do not want to commit to anything too long term.

Again, if you do not wish to be tied down for an extended period of time, or if you cannot yet afford to purchase an office space in your desired location outright, renting can be a wonderful compromise. Renting an office space from Regus can also give you access to coworking spaces, giving you a unique opportunity to network with other professionals who might be open to collaboration.

How much office space will your company need?

Finding the perfect sized office for your company can be challenging. Not only will you need to commit to a longer term landlord agreement, committing financially - but you’ll also have to anticipate your needs, often years into the future.

If your business is growing, choosing a rental office with enough space to accommodate your business needs can be fundamental to your success. This also means that if the unexpected happens, you have the flexibility with shorter term, more agile agreements. Nevertheless, with flexible working showing no signs of slowing down, it is important to understand how many people will actually need access to your office rental and how often they will be working both from the office and at home.

What type of office space will your company need?

Before deciding to rent or buy, it is a great idea to research which types of office space are available in your chosen area, whether a city centre, suburb or transporation hub. Regus offers different types of office space to suit different types of companies including private offices, custom offices, day offices, and specially tailored office packages.

For example, a traditional office space will provide private areas for employees to work and converse. This type of office space might have a reception area, a large boardroom, and smaller rooms and is an ideal fit for companies in the financial and legal sectors.

Alternatively, if your company values collaboration and teamwork, a more transparent layout could be better suited. Accordingly, a mix of table sizes and breakout areas might be more appropriate than single cubicles especially for creative industries like media and marketing.

Once you have a few potential rental offices on a shortlist, compare the costs and the features of buildings in your preferred location. Regus provides office spaces that are affordable with terms that are ideal for start-ups, growing companies, and larger businesses looking for rental solutions. You can take a look at some of the helpful resources on the website to find out more.

What do the employees want?

It is no secret that your office space rental needs to work for both your business and your employees. Therefore when shopping around for office space, always keep your employees front of mind.

Attracting - and retaining - the best employees is no easy task, but finding an office space that ticks all the boxes can have a huge impact on satisfaction levels and productivity. The perfect work environment for your team should be welcoming, offer a variety of seating arrangements, and situated in a convenient location close to popular amenities.

One of the best renting office space tips to keep in mind is to ask your employees about what is important to them in a work environment. Do they want their office to be close to transport links? Or is a large car park a must have? Should there be green spaces nearby? And what about local restaurants or cafes? All of these factors need to be discussed and suggestions should be openly encouraged.

5 benefits of renting an office space

So, why is renting an office space a great solution for your business? Here are 5 benefits to consider.

  • Less maintenance cost: Security, cleaning, utilities and maintenance are all included in your package.
  • Flexibility: Every Regus office space is available on terms to suit you, so you can add more space as you grow, or even move location.
  • Professional on-site support: Daily help is available so you can get the most out of your office space.
  • Customisable office spaces: Upgrade your furniture with comfortable and ergonomic chairs, add branding and colours to the walls, or go all out and customise every last detail and design.
  • Access to business-grade technology and support services: Get everything you need to run your business successfully in one place.

 

Find your perfect office space

Renting a workspace can boost your business in so many exciting ways. There are so many unique benefits of renting an office space to enjoy.

When you book through Regus, your company can access everything it needs to thrive and so much more. Explore the global network of over 3,500 Regus locations to find and rent an office space that your business can call home today.

 

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