Executive Office Suites: Permanent Solutions for Temporary Office Space

shared office spaceExecutive office suites are not the name of a company, hotel or building. Although the term can be confusing to many, it instead applies to temporary office space rentals. This actively growing industry supplies private office space for small business owners and corporate executives alike. In fact, furnished offices prove to be an ideal solution for companies that need temporary offices for short or long term needs.

How do Executive Office Space Programs Work?

Short term, executive offices and co-working spaces are available in cities across the globe. Individuals and companies may rent the facilities by the day, week or month. Long term leases are also available for those companies that like the flexibility associated with working out of shared office space buildings, but also want to lock in their lease pricing for a longer period of time.

Some companies use temporary office spaces in cities all over the world to accommodate their traveling employees. Other business owners may use them for a short stay during an office remodel.

Benefits of Office Space Rentals

The beauty of renting office space is there are no long lease contracts to sign. Just a simple agreement that may be custom tailored to suit your business needs and total stay.
And most importantly, you receive a fully furnished and functioning office from day 1. That means you can establish or relocate your existing offices immediately. This instant office availability not only saves money but time as well.

With no furniture to move or buy, the process for leasing corporate office space is as simple as signing the contract and bringing in your belongings. Telephone and mail service is available for your use immediately.

With instant telephone communication, you may forward all your calls to your new office so that you can stay in touch with clients. Business support staff is usually also on hand to greet customers and answer calls. Most office space providers also have a fully equipped business center on site so that you have access to computers, fax, copy machines, pretty much everything you need to run your business.

Even better, when you lease shared office spaces, you also gain access to the building’s meeting and conference rooms. When your clients arrive for a meeting, they’ll be greeted in a professionally decorated office suite that gives you instant credibility and prestige.

Finding executive office suite spaces is as simple as a quick internet search or phone call. Metrocrete New York provides an excellent resource to information about shared office space NYC so you can connect with brokers and providers to assist you in finding the ideal solution for your business offices.

shared offices NYC

Mobile Grows Shared Workspaces and Changes How We do Business

Temporary office space for mobile businessesRegus, ShareDesk, WeWork and other shared office space providers are the biggest expanding real estate market in the United States. The prime metro areas of NYC, Chicago, Los Angeles and Dallas are seeing the emergence of a new breed of commercial real estate.

Mobile phones and tablets play a large role in fueling this growth. The net-based work world demands new and flexible business models.

Long gone are the days of old corporate offices

Their replacement includes co-working offices, shared workspaces and loft offices, minus the cubicles. As this trend continues, it will forever change the look of business in today’s big cities.

This development really started with laptops. Today’s 30-somethings came of age doing their homework sitting at a table in Starbucks or typing away in the cafeteria. The entrepreneurs of this generation start new businesses the same way. Mobile phones connect them with customers. Laptops and tablets take care of the work, and they can set up “offices” anywhere they want.

This individualism in work space doesn’t quite work well for a company. Just as soon as they start hiring employees, there is a definite demand for real office space. But the new business model doesn’t use office space property in the same way. Businesses of today look nothing like the corporate offices of Dilbert or Office Space fame.

Move to Shared Workspaces for Small Business

Instead, new companies like Lover.ly, the company behind an app that helps brides organize their weddings, are taking over lofts to create communal work spaces. All 15 employees sit together at several long tables, in the third-floor of a walk-up building not far from Madison Square Park.

Even though business needs and practices constantly change, client expectations don’t. Lover.ly doesn’t deal with clients in person often so they can use whatever set up works best for them.

A business that sees clients regularly or meets with investors still needs to project corporate office professionalism–even though it may no longer be relevant for the company. This entrepreneurial style basically fuels the growth of shared offices.

With short term leases and the ability to set up a variety of work space configurations in a traditional corporate setting, shared offices are ideal for start-ups that don’t want to be trapped in a long term lease and traditional office set up.

The corporate styling of these shared spaces reassures clients and investors they are dealing with professional businesses. Meanwhile the business, armed mobile phones and tablets, works in whatever configuration fits best.

Traditional offices are dinosaurs just yet however. In spite of Google and a few other big corporations using shared workspaces, most established businesses and large corporations will continue to field corner offices and cubicle farms.

But shared office spaces are growing at an explosive rate with more and more new businesses following the same tack as Lover.ly. The mobile phones and tablets that powered this office revolution aren’t going away–and neither is this new style of office space.

Renting office space vs. Buying: Six Factors to Consider

Renting vs. Buying commercial office propertiesWhen trying to decide between renting office space versus purchasing, there are roughly six factors for executives to consider.

1) Cash Outlay – leasing office spaces requires less cash than when companies purchase property. Business owners don’t need upfront money for renting. Companies that buy, on the other hand, must have a significant amount of cash upfront to purchase office properties.

2) Office Space Costs – rental facilities for furnished or shared offices often set their prices based on market demand. Commercial real estate purchases though offer no guarantee of value increases or appreciation. Temporary office space rental provides flexibility so that companies may change their location when employee or operation growth increases.

3) Growth – outgrowing a rental office building doesn’t always cause financial upheaval, but an increased need for space in an owned building potentially creates a crisis. Individuals and companies can easily avoid the cost and hassle of moving simply by renting executive office suites from an office space provider. This is not even an option for owners of commercial buildings.

4) Property management – Owners of commercial buildings must have property management teams to handle any facility issues that arise. Often, larger companies buy large office spaces and then rent out a portion of the space until they need it. This strategy is not always an option for individual entrepreneurs or small business owners.

5) Appreciation – Like any investment, buying office space may create profit or loss. Owning a building generates far more work than a simple rental. Because commercial real estate runs in cycles, companies should only invest in good financial markets in order for an appreciation strategy to be effective.

6) Tax factor – when business rent temporary office suites, they may deduct their payments and write off repair work immediately. Purchasing office facilities allows for depreciation of any property improvements. Business building owners may also deduct interest for any loan balances, tax liabilities or other expenses.

It is vital that business owners understand their property needs and requirements. Commercial real estate fluctuates based on location, and these changes can potentially impact successful companies. Be sure to consult with tax and financial professionals to determine if renting office space is an option that is right for your company.

Established businesses typically have the financial ability to invest in large real estate transactions. If they plan to maintain offices in one location for many years, then buying commercial office properties offers better benefits.