What is Space-as-a-Service?

The long-standing commercial real estate model has been to rent offices for inflexible long-term leases that can range from three to five years — and even as long as ten years. As a result, companies are stuck with their workspace even when they have short-term needs. The demand for flexibility has grown, and real estate developers and property owners have started to change their models in response to this demand. Space-as-a-service is offering shorter leases with a focus on a more on-demand experience.

Space-as-a-service allows for shorter leases with a better people-oriented user experience, offering places for people to work with amenities specifically included to make the workplace easier to get to, and more comfortable as well.

This is different from older models, which prioritise projects instead of people and neglect to consider the individual and how they would work and use the space.

The office would be all ready to use from day one — in addition to completely furnished office spaces, it may provide other amenities like:

Reliable internet

Furnished meeting rooms

Change rooms

Lockers

Bicycle racks

Other transportation amenities

A lot of people nowadays prefer renting and accessing a place over owning it, because of the ease of renting compared to owning and also lower short-term costs.

An Evolved Office Space Concept

The COVID-19 pandemic has changed office work and employees’ attitudes toward it. Many companies have switched entirely to work-from-home employment models. Other companies still used rented offices but realised they didn’t want or need a long-term lease that could last years when there may be times when most of their workforce wouldn’t need the office.

Some companies need to have employees at the office, so work-from-home isn’t an option. At the same time, a traditional long-term lease could be costly, especially if the company is expected to grow faster than the term of the lease.

Flexible office space is an option for such companies, which would allow them to rent spaces the size they actually need for a long or short time. In case a company grows quickly, it’ll be able to rent a larger office in a shorter turnaround time.

Why Should Businesses Adopt Space-as-a-Service?

Any company in Australia that needs a space to bring their team together should consider taking an office at a coworking space. When a startup rents an office early in its development, it may not need a large office. If the startup blows up in popularity — as any startup founder would want — it may suddenly require a much larger space.

With inflexible leases, it wouldn’t be possible to easily change over and rent more space to accommodate a much larger workforce. New companies, smaller teams, startups, and even individuals all have a better, easier, and cheaper option.

Fully furnished, all-amenities-included office space can be rented with space-as-a-service leases. It could be the right place at just the right time for companies that don’t want the headache of real estate ownership but want to remain flexible and access a fully accessible, furnished workspace whenever they need it.

Article Provided by Rubberdesk.