Most people prefer remote work these days, especially after COVID-19. As a result, they are opting for serviced offices over traditional ones, as serviced offices provide the freedom and flexibility that people seek today. Consequently, shared offices have gained popularity, especially among small businesses.
Per a report from Spacebring, 37% of coworking space users are freelancers, 24% entrepreneurs, and 21% SMEs. The same study also stated that the number of such spaces worldwide reached 42,000 in 2024. This growth is largely driven by benefits such as furniture and room selection, 24/7 access, and employee well-being support
This also means you get comfort, flexibility, and communities to make valuable connections. However, you can also benefit from avoiding the following five mistakes people make before leasing serviced offices.
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Focusing Entirely on Rent
Rent is the central aspect you must consider when finalising an office space lease. You will have your budget to consider while managing your business objectives. So, even though opting for a cheaper place may be a good idea, it can cost more in the long run. Let’s understand why. The cost of a custom-designed managed office space can be less monthly, and it may include everyday expenses, such as water, electricity, cleaning, and wi-fi. However, some places may charge more for conference rooms, scanners, or 24/7 access. As a result, your overall expenses may exceed the expected rent.
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Poor Infrastructure
Do not choose a shared office space with subpar infrastructure. The budget is mainly to blame for such a decision, and you would want to have additional money at all times, but cutting infrastructure can be a bad idea because a cheap place will offer inferior amenities. Even though you may feel that you will save money, in the long run, you will be paying more to manage the subpar amenities provided.
This will destroy your mental peace as you constantly work with the provider to manage those things, taking away your productivity.
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Skipping Market Research
One of the biggest mistakes while leasing a serviced office is not doing proper market research. This results in paying more for a suboptimal location without researching other properties or comparing prices. Often, the mistake is rushing into the first property, thinking it looks decent and matches your needs.
Instead, you must spend time reviewing at least three or four properties. Check for rental information, security deposits, and maintenance. Also, list your business needs, such as high-speed internet or a parking space. Doing so will help you get a good plug-and-play office space with less rental and a good location.
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Not Discussing the Exit Expenses
Reinstatement, exit, or cleaning charges all mean the same thing – the amount you need to pay when you move out of the flex space. Although these places offer customisation, you won’t ask for it unless your business needs it; the exit fee generally covers painting and cleaning expenses. However, if you have caused any property damage, the cost will be incurred by you.
The bottom line is that every serviced business center has its own exit fees policy and charges. Most people share it in advance, calculated per head or square meter. They will also advise on any extra fees for issues beyond typical wear and tear. Therefore, discussing these charges before signing the lease is essential to prevent any misunderstanding or disagreements.
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Opting for a Place Different from Business Image
The adage “first impression is the last impression” is well-known. Your office’s ability to wow clients and potential investors depends on your chosen location. Therefore, you must be sure that the serviced workplace aligns with your company’s mission and vision. Besides, it reflects what your company stands for. You should focus on your business image when signing the lease agreement.
Conclusion
Choosing Serviced Office Space in Hyderabad is more than just choosing a desk; it is about finding the office that perfectly aligns with your business goals. If you want hassle-free serviced offices, iKeva is your answer. Through our strategically placed neighbourhood coworking spaces, we provide professionals with what they require.