Temporary office spaces are engines for professional growth, offering turnkey solutions businesses need to accommodate fluctuating demands. Transferring a business from home to a chic office bestows further legitimacy and avails a professional atmosphere, increasing productivity.
These environments give companies the flexibility to dedicated office facilities that work without typical commercial lease restrictions binding them to office space for 3-5 years and longer. Not to be confused with co-working spaces, temporary offices provide allotted private spaces with access to common areas.
What Is a Temporary Office Space
The meaning of a temporary office y is simply that it houses a business for a short period of time. So, what is temporary office space? Temporary office spaces utilize membership agreements (i.e. licenses) and not leases, with terms ranging from month-to-month to annual. In addition, these offices offer fixed rates all-inclusive of amenities like internet, all taxes and fees, conference room access, gym facilities, and 24/7 accessibility.
Businesses operating at reduced capacity, with rotating schedules and fluid work schedules, benefit from this type of office arrangement. While social distancing may subside in time, telecommuting and satellite offices are set to replace traditional work models. In this vein, temporary offices offer a happy medium — minimal commitment with the perks of a traditional office.
Benefits of a Short-Term Space
Temporary office spaces can be part of an effective business strategy with many advantages, least of all being in the same environment as other companies who share the same values. They are convenient, affordable, and provide everything a business needs for accelerated success.
In today’s climate, it’s difficult to predict business growth. Despite the pandemic, half a million companies launched in January 2021. Even though things are on the uptick and stability seems to be gradually returning, many are still apprehensive about long-term business security and remain reluctant to sign commercial lease agreements. This is where temporary workspaces with flexible rent agreements offer the optimal solution.
However, a robust office infrastructure, with conference rooms that have smart TVs capable of video conferencing and streaming, is expensive to set up on the outset. In addition, not all small businesses have the budget to hire space with meeting rooms or even buy additional equipment. Thankfully, temporary office spaces come with these amenities, reducing overheads.
It’s not just technological infrastructure; there’s also furniture and a deposit to budget for when renting a traditional office space. Choosing a temp office space significantly reduces these add-on costs too. When businesses move into a serviced office, these maintenance costs no longer concern them.
Furthermore, they don’t have to worry about costs associated with scaling. Too often, monetary terms define cost, but copious time goes into finding new premises, reducing valuable working hours. Companies don’t have to worry about scaling in short-term space, meaning they can easily expand and only pay for the additional space when required.
Peer accountability in a professional environment and flexible amenities contribute towards productivity. When businesses take pride in their physical environment, it trickles down to employees. A conducive environment builds team synergy, engagement, and motivation.
Another wonderful benefit of temporary office space is peer support and encouragement, which is especially needed now in the workplace, considering the effects of the pandemic on general wellbeing.
Being part of a community is also part of their reason. Online interactions still can’t replace face-to-face communication. Remote for long periods diminishes company culture and is particularly challenging for new hires. Even businesses that offer work from home flexibility benefit from the in-person contact provided by temporary office space.
Whether touchpads, key fobs, or access cards, most temporary offices have access control for added safety. During the day, office managers or concierges oversee the pace and can assist with daily operational issues. Temporary office spaces also tend to have strict visitor policies and won’t let anyone enter without a security check and notification.
When office cubicles debuted in the 1960s, there were high hopes they would make working spaces breezier, less confined, and more efficient. Instead, they promoted siloed work environments and instilled strong hierarchical structures. While this may be relevant in certain contexts, the legacy left by this totalitarian design leaves much to be desired when it comes to design.
It’s challenging to meet contacts when vast portions of the workforce are at home. Temporary office spaces often host a variety of businesses and freelancers who may be beneficial for business expansion or even become new clients. These spaces are also diverse, providing the best environment for knowledge sharing and alternative perspectives, as well as networking with a broader range of people.
Any business owner with experience locating knows the cost of downtime and just how stressful coordinating a smooth relocation is. Transitioning to a short-term office space is easy because there’s no need to worry about small details — they’re all taken care of.
Companies providing serviceable offices set up the furniture, equip the space with relevant technology and ensure the utilities work. Some even provide personal door signage services, and most offer office mailboxes. Businesses only need to specify if they want on-site parking and what size office they require.
It’s the same when companies need to move or scale up. Besides a few belongings, there’s no big equipment to move or sell. And if they need a bigger space, the company likely already has one that’s ready for use. At a low cost and with little commitment, what’s not to like?
The amenities that come with temporary office spaces are the biggest selling-point for why businesses decide to opt-out of commercial leases. Streamlined billing and booking online, the ability to use multiple locations, gym facilities, tenant lounges, meeting rooms, and community events are major pluses. The best part is that most are included in the rental agreement.
Candidates For Hire
Hiring new employees is time-consuming, but having a temporary office part of a co-working space opens up the business to large talent pools, whether directly or through referrals. In addition, individuals who use coworking spaces are already entrepreneurial in spirit and share values conducive to productive remote work.
This works both ways. For talent who want more autonomy, their initial impressions of a company matter. Your workspace is a reflection of your business values, and if both parties are working in the same environment, there is already common ground. Additionally, companies that need freelancers for specific projects will be able to connect to a wide range of industries and professionals that can help them with the tasks at hand.
Perfect Choice for Seasonal Business
Seasonal businesses generate the majority of profit within a few months every year. These businesses close down completely off-season or manage basic services during this time. Cashflow challenges, staff recruitment, and finding office space to accommodate intense periods of business activity are yearly challenges.
For most, hiring a permanent office space is a waste of money, as it’s only needed for a limited amount of time. Short-term offices with flexible rental options are ideal. Businesses never have to be locked in a long-term lease agreement. Moreover, serviceable office companies have reception and IT on hand, reducing the number of potential seasonal hires.
Can Temporary Office Space Turn into a Long-Term Office Space?
Many businesses prefer to rent temporary office space for the long term rather than locking themselves into an expensive lease that may not suit their needs in a few months. Motivating factors include: low overheads, professional design, built-in infrastructure, and amenities that accommodate better work-life balance.
While renting office space in Chicago is about half as much as in New York and other major cities, it’s still $7,000 per employee per year. Even though there are spaces where rental may make sense , the cost doesn’t include security, furniture, a deposit, and wiring construction. Not to mention paying for cleaning, maintenance, and repairs or dealing with a difficult landlord.
Price per square foot is no longer the benchmark of affordability. Temporary office spaces offer a convenient white-label solution. Businesses step in to a plug-and-play environment designed to optimize productivity, with premium hospitality, superior IT solutions, and security. It seems completely counterintuitive for companies to develop this infrastructure on their own.
Is This a Good Choice For Your Business?
Office environments have a profound effect on the quality of work businesses produce. There are many reasons why an individual or company may benefit from this working arrangement. As it is, flexible space already dominates the premium leasing office market in downtown Chicago.
Renting a temporary office in a coworking space may be beneficial in the following contexts:
- A business is in between leases and needs a temporary space to work;
- Permanent business space is undergoing renovations;
- Having a conference room to hold larger meetings to work with clients is essential;
- A business is launching in a new country or city and needs a base from which to do work;
- A startup has grown and needs space to accommodate a growing number of employees;
- A digital nomad who requires a virtual office when they’re away;
- A solopreneur who wants a space to work from other than home and craves a sense of community;
- Companies that hire seasonal staff and don’t have adequate space for them;
- Any company or individual looking for a dynamic environment to work in;
- Location centrality and access is a key concern, so employees can easily get to and from work.
Suppose you’re looking for well-appointed temporary office space that comes with premium services and world-class amenities. In that case, you may be interested in 620 N Lasalle offices for rent in River North, Chicago. Contact us for a free consultation.
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