The corona pandemic has changed the world, and we are changing too. The fear and uncertainty about our very existence has seeped deep into our bones. The shape of our lives has to now recode itself to adapt to the unleashing challenges. As the world recovers from the steep toll it has faced, the economy and workforce are being brought back to normalcy and efforts are being made to restore regularity. These times have pushed establishments away from a physical headquarters and created space for more online presence. At this turning point era, establishing a physical office needs in-depth planning, meticulous forethought and drafting unforeseen future. Therefore, conventional office leases, with agreements spanning over years and decades are now considered retrograde and archaic. So, here comes a new kind of setup – the short-term office space.
Short-term offices are a new approach that rent out office spaces like coworking space or serviced office space on flexible time durations. Renting in this type of office is cost-effective and can still give you focus since the spaces are separated with acoustic office screens. The contracts made prior to the arrangement are negotiated to a shorter time span. This neutralises the company’s need for a local setup during uncertain times with renting spaces for durations suitable for the company. The success rate of business ventures is low, so no matter how good your idea might be, it’s a prudent choice to be prepared for all outcomes. Choosing a coworking space or serviced office space with a contract binding you for years can be illogical. Many other reasons as to why a short-term office is the best choice for you are listed below:
Greater flexibility
The market today is volatile. Business endeavours envision massive plans for the future, but in reality, only a few of them give tangible results. The low success rates make this flexibility advantageous over ones based on stability. Change is the only constant thing. And changes like the unpleasant ones don’t come with an alarm. So, to be on the safe side choosing a coworking space or serviced office space having a short-term agreement.
Greater freedom
The enterprises sometimes need the freedom to choose and change. This can be attributed to changing needs, like increased or decreased space, or even the complete shift in geographical location. For instance, if you are have taken a coworking space in Mumbai you can change your location to a different place in the same city or in a different city altogether. The conventional offices, with a contract period that is long doesn’t provide this freedom. With short-term offices, it is easier to bring about change when desired. Short term rentals can really boost your motivation as well. Knowing that your lease expires in a much shorter time will spur you on to try new things and expand your business faster.
Cost-effective
Short-term offices tend to prove much more economical than long-term ones. This reduces the overhead costs and expenditures of the company thereby increasing revenue of the firm and adding to its profit. Another perk of choosing short-term offices is that you are not in a game of bargaining against the solution providers. The snag of choosing long-term offices is that the tenant allowances tend to reduce over time, adding more weightage on the part of the owners.
Dwindled legal formalities
The long-term offices have their own set of advantages like predictability and stability however, they come with their own set of legal baggage. The contracts involve heavy paperwork that must be done with utmost care because it is binding for a long period of time. The short-term offices have an added advantage from this viewpoint because the contracts are not as complicated, and you won’t necessarily need to be as careful about it as with a long-term offer.
Be it your company’s germination stage, or transition stage or rebooting phase, we are here to make tailor-made contracts for a short-term office. Whether you are a multinational corporation or a start-up or a solopreneur, short-term offices are best suited for your oscillating requirements. Therefore, the short-term offices are worth it mentioning that they are easy to find, affordable and convenient. Be it a short-term coworking space or serviced office with all the amenities we have it all. Visit iKeva to learn more now.