Frequently Asked Questions.
Curious about how office space works, the costs associated with it, and if it’s right for you? Before committing to a space for your business, check out our most frequently asked questions about office space to help you understand the key considerations before taking the next step.
What is Flexible Workspace?
A flexible workspace is a furnished, fully equipped short-term workspace located within a managed building. Property providers generally include communal areas used by all tenants in the building, such as reception areas, lounges, kitchens, break areas, and bathrooms. Unlike conventional leased workspace, everything is included in the monthly cost. In many cases, business rates, utilities, facilities management, furnishings, and basic IT connectivity are included; however, it’s always worth checking the license agreement before signing.
Do Serviced Offices Include Business Rates?
Renting a serviced office usually includes business rates in the fixed monthly rent, along with utilities and other amenities. This can make costs more straightforward, although terms vary between providers. However, terms can vary between providers, and some agreements may require tenants to pay business rates directly. To avoid any surprises, it’s essential to review the lease terms or check with the provider to confirm whether business rates are included in the rental fee.
Do You Have 100% Market Coverage?
We pride ourselves on working with fewer operators who provide design-led workspaces. This helps us maintain closer working relationships.
Any agent or office broker rarely covers 100% of the market due to the frequent opening, closing, or changing hands of new workspaces. We pride ourselves on working with fewer operators who provide design-led workspaces. This helps to ensure we maintain a closer working relationship with our partners and a streamlined experience for you. Think ‘quality over quantity’; that’s our approach.
Unfortunately, not all companies (in this case, partners) have the same level of working capital. We work with providers we are comfortable introducing, and we encourage clients to check deposit terms and holding arrangements directly with the provider before proceeding
How Does Your Service Work?
Our goal is to help identify workspace options that fit your stated requirements and business priorities, rather than a short-term solution. We achieve this by listening to you and investing time up front to better understand your workspace requirements. Ultimately, this saves you time by removing the need to view buildings that don’t meet your brief from your day. From the initial conversation, we help organise your search, identifying workspace options based on your brief and arranging viewings around your diary; we can even support commercial discussions with the provider. We pride ourselves on matching businesses with the right office space.
How Do I Arrange Viewings?
To arrange a viewing, fill in your contact details on our ‘Contact Us’ page or on the property listing page, and one of our team members will be in touch to arrange your viewing.
How Much Do You Charge?
Our search service is free of charge to clients and offered with no obligation. We may receive a fee from the provider if you proceed. We ask for 48 hours of exclusivity for shortlisting. If we are unable to identify a suitable option within that time, you are free to explore other options.
Are Your Searches Confidential?
Yes. We handle searches confidentially and do not ordinarily share your details with unrelated third parties. We do not ordinarily disclose your details and ask providers to contact you directly. All communication is screened, allowing you to focus on your day-to-day activities.
What's The Minimum Term?
Generally, the minimum term of a license agreement is 12 months. Our property partners might offer slightly longer or shorter terms, which can increase or decrease the rate payable; however, this is on a case-by-case basis. Pricing is often quoted on a 12-month term, yet the term can be between 1 and 36 months.
What Happens If We Outgrow The Space?
Many providers allow tenants to move to larger spaces during their agreement, subject to the provider’s terms and availability. For instance, if a company grows quickly, it can relocate without signing a new deal, simply paying for the extra space used.
What Is Included In The Price?
Most serviced offices share amenities between tenants in shared communal spaces. Amenities can include meeting rooms, breakout areas, reception, catering, telephone answering and internet services.
Are Your Workspaces Pet-Friendly?
With the recent rise in pet ownership, many coworking and flexible workspaces have adopted ‘Bring Your Dog to Work Day’. This tends to be more common at centres that offer ping-pong tables and trendy fit-outs, so it’s worth mentioning this to our team so we can indicate which centres may be pet-friendly.
How Quickly Can We Move In?
Once you have agreed on the terms, signed the license agreement, and paid any deposit, the office is yours to use. In some cases, a deal can progress very quickly, even on the day of a viewing.
How Much Is The Deposit We Need To Pay?
The deposit can vary between service providers. Some allow tenants to move in without paying any deposit, while others require one or two months’ rent paid in advance, which is typically subject to the provider’s terms and any lawful deductions.
Are Serviced Offices More Expensive Than Leasehold Offices?
Unlike conventional leasehold spaces, where you need to build all the necessary amenities, such as restrooms, kitchens, meeting rooms, breakout areas, and IT services, you typically pay for the desk space and associated services used by your team. This typically ranges from 30 to 60 square feet per person.
As a rough guide, a conventional leasehold workspace usually requires around 80 to 100 square feet per person. While you still have access to these amenities, they are shared among other tenants in the building.
To find out more about the areas that Office Broker covers in London, check out our London Coworking Guide. We look forward to helping you find your next coworking space.
*Often includes internet and maintenance within the monthly cost. Shared amenities can reduce costs for furniture and equipment. Shorter-term agreements compared to conventional leases. Access to shared business communities and networking opportunities