When it comes to office space models, there are a lot of options out there. With all the new ways to work, it’s important to make sure your workspace supports the needs of your employees and business. If you’re considering renting a traditional office, here are some essential factors to remember before signing the lease.
Read our advice and make an informed choice:
- What is a traditional office?
- Key aspects of traditional offices to consider
- Top 5 pros and cons of traditional offices
- Should you rent a traditional office?
- What you should know before renting a traditional office
- How to rent a traditional office?
What is a traditional office?
A traditional office, also known as a conventional office, is a private workspace used solely by the tenant company. This office solution involves the long-term rental of space where the cost comes at a set price per square meter on a monthly basis. Businesses opting for this office control the layout and fit-out of their workspace, but, at the same time, office maintenance requires substantial involvement as the firm chooses their service suppliers, such as Wi-Fi, cleaning, reception staff, security, and more. Traditional offices are most often located in large business districts, office complexes, and central city locations.
Though traditional offices for rent have been somewhat associated with a classic cubicle layout, nowadays, these spaces can take on any form desired by the company. The premises can be arranged into open or common „coworking” areas, individual offices, deep focus work zones, telephone booths, brainstorming areas, and relaxation areas.
For many firms, this office solution is particularly practical in ensuring privacy and confidentiality since the company exclusively occupies the office.
Compared to flexible lease solutions – e.g., serviced or coworking offices – traditional office rental is a cost-effective model for firms wanting to commit to a space and invest in a personalized fit-out, including their own furniture. The space can also be designed in a way that best reflects the client’s branding and culture in terms of color, style, and arrangement, though this does require a substantial upfront investment in the form of overhead costs and continual managing and maintenance expenses.
Traditional office for rent – key aspects to consider
- How long does the office leasing process usually take?
In the case of traditional offices for rent, the search to sign process can take 6 months up to 1 year. At the same time, thanks to ShareSpace, companies have been able to finalize the process of leasing a traditional office in as short as 2 months! This is because ShareSpace technology, including its communication dashboard, online signature tool, and bespoke Advisory service, has been proven to speed up the office leasing process by up to 80%.
Curious to know more? Read about firms that found and leased their office in record time, thanks to ShareSpace. Codility, a Tech Hiring Platform, leased a top-class serviced office in just 1 month, and Booksy leased 1.5 thousand sqm in 2 months.
- What is the average lease length?
Traditional office lease ranges between 5 – 7+ years. This lease contract means the client establishes a long-term commitment to the space.
- What amenities can I expect when renting a traditional office?
Traditional offices are usually leased out by the landlord at a „shell and core” stage, meaning furnishing and partial or complete fit-out are up to the tenant. This can include tasks such as cabling, Wi-Fi network, reception staff, security, designing various work areas, kitchen, and most other amenities. As an incentive, the landlord provides a fit-out contribution that can range between EUR 400-700 sq m for a new building (shell and core) or EUR 200-400per sq m in older buildings that need refreshing.
- How long does the move-in take?
When opting for a traditional lease, moving into the leased space takes longer than a ready-to-move-in solution such as serviced or coworking office. Depending on the size of the office and the extent of fit-out required, move-in can take up to 6 weeks.
Should I rent a traditional office?
You should consider renting a traditional office if…
- You are a firm that requires a large workspace that guarantees privacy and complete confidentiality
- You are looking for a long-term, cost-efficient office solution with a lease contract length of a minimum of 36 months
- You are looking for an office you have full control over, from layout, and furniture to choosing your own providers, services, etc
How to rent a traditional office?
Find a traditional office using ShareSpace, the first and only end-to-end office space marketplace connecting businesses with traditional and flexible office space operators. With ShareSpace finding an office couldn’t be easier. You can do it in just 5 simple steps:
1. Search for your perfect office – use the ShareSpace search engine, which offers real-time data of office availability.
2. Compare your options – ShareSpace works with the world’s best office providers, meaning you can make the best choice for your company office. Compare your various office options to make an informed choice.
3. Take a virtual or in-person tour of the office – use ShareSpace to conveniently arrange your office tour and see how you like the space for yourself.
4. Communicate directly with the host – communicate with your landlord or office operator using the ShareSpace dashboard and all-in-one chat. You can also use it to securely send documents or floor plans.
5. Sign documents online – save time and paper and use our sophisticated online-signature feature to sign lease documents.
Rent a serviced office with ShareSpace
Deciding whether leasing a traditional or serviced office will be a better option for you? Check out our useful infographic to help you make the best choice for your firm.
For an easy way to estimate how big of an office you need – read our article here.
To get the best value for your money with your next office read our 6 tips on how to save money renting your next office.
Need more help? Contact our ShareSpace Advisors, who will help you find just the right office.