What is a "Serviced Office"

From Wikipedia, the free encyclopedia

A serviced office also known as 'executive suite' is an office or office building that is fully equipped and managed by a facility management company, which then rents individual offices or floors to other companies. Serviced offices, which are also referred to as managed offices, business centers, executive suites or executive centers, are often found in the business districts of large cities around the world.

Companies offering serviced offices are generally able to offer more flexible rental terms, as opposed to a conventional leased office which may require furnishing, equipment, and more restrictive leases. Space is normally flexible, allowing for additional space to be allocated at short notice, should the size of an individual business change. Serviced office providers often allow tenants to share reception services, and other resources, providing reduced costs and access to equipment which may otherwise be unaffordable.

Client Types:
Clients of serviced office facilities fall into the following categories:
New Market / Locational - Businesses which are typically headquartered abroad or in another region of the country which require a business presence in the area of operation of the business center.
Start-up/ Entrepreneurial - Small to medium businesses or enterprises which don't want to make a financial commitment to a longer term lease. This class of client likely also benefits from not having to add administrative and support personnel to payroll, with all the pursuant HR costs (benefits, insurance, recruitment).
Overflow - Typically a large company experiencing growth, with traditional leased space in the area which it has outgrown. These can be short-term requirements (3-6 months) for large number of users (as many as 40-50).
Interim - Clients that are in the process of moving from one space to another, and may be facing delays in the completion of the new space.
Project-based - Clients that have a specific need for office space, based on a specific contract or project.

Services typically include:
Reception servicesAdministrative Support
Telephony
IT infrastructure and internet connectivity.

Facilities
Facilities typically include:
Conference / seminar;
Meeting Rooms;
Heating, air-cpnditioning
Furniture;
Full time security; and
Insurance

Benefits
Serviced offices may offer benefits over conventional offices for new or dynamic businesses, including:
No / low start up costs
Prestigious addresses
Flexible leasing
Maintenance
Immediate availability
Support staff available as needed