Shared office space refers to shared physical office space that is also rented and occupied by tenants. The concept of shared offices often refers to co-working spaces, which are frequently run by a third-party company with flexible renting agreements and more focus on an around-the-clock working environment. Shared office space can be located in the center of a city or a suburban business park, depending on what the tenant is after.
The following are the benefits of shared office space;
Shared office space brings flexibility to the working environment and enables more customization of what is available in the office space. Tenants have the freedom to choose their furniture, colors, and designs. They can also choose how private or open they want their space to be.
2. Efficient use of resources
Shared office space provides more efficient use of resources, as the provider usually takes care of utilities, security, cleaning and maintenance, internet access, and other similar services that can be shared by all tenants in the office. This is a huge cost saving for tenants. Without this shared service, tenants would individually be required to pay for these facilities and services on their own. A shared office in Melbourne can save you up to 80%.
Shared office space is more accessible than regular office space. This is because members will not have to enjoy working outside of their office if they are too busy with a project or working on a tight deadline. Furthermore, they can meet their clients in an environment that is more common and familiar to both parties involved in the meeting.
4. Networking opportunities
Shared office space provides better networking opportunities. This is because the tenants can interact with each other, sharing their advice and experiences as well as forming relationships that may prove helpful in future endeavors.
Shared office spaces are mobile and can be easily moved should the need arise. The benefits of being mobile include relocating to a more favorable location and reducing costs when the current location becomes too expensive.
The drawbacks of shared office space;
Shared office space can be less secure compared to conventional office spaces. This is because the building may not have the same level of security found in a private building, making it prone to theft and other similar crimes. Also, members of shared office space may not follow rules as strictly as they should.
Interaction between tenants in shared office space may be distracting and noisy at times, especially if landlords are not able to moderate the environment properly.
3. Lack of privacy
Other tenants in shared office space may enjoy the opportunity to eavesdrop on conversations between tenants and have access to private information. Those tenants may use that information to their advantage to either get closer to the tenants or create conflicts between them and the tenant.
4. Pricing issues
Shared office spaces are more expensive than usual office space, especially for small and medium-sized enterprises (SMEs). The charges may vary depending on the location of the office space, especially in popular locations where there are limited spaces.
5. Management issues
To obtain good shared office space, a tenant may be required to submit a large upfront fee to secure the space. This is regardless of whether or not the tenant will use that space for work purposes only or whether it will be used for business and personal purposes. This can create a conflict situation between the landlord and tenant if there’s an increase in demand but not enough spaces available.
A shared office in Melbourne can solve the problems that are associated with conventional office spaces, namely long lease times and the high cost of renting. This form of shared space reduces the time required to negotiate terms and conditions of the lease to a minimum because most of it has been taken care of by landlords. Moreover, tenants have an easy time finding a space that best fits their needs as well as their budget.