In today’s world, renting traditional office space is falling out of favour for modern workspace solutions that are flexible and compromising. Thanks to these options, business owners aren’t forced into long-term leases, nor do they have to fixate on the nitty gritties of operating a company. Instead, they can focus on what’s important, growing their business and achieving goals.

Managed spaces, not to be confused with coworking offices, are preferred for medium to large companies. These fitted-out spaces customised to your unique business requirements are acquired, designed and overseen by a third-party provider. 

Choosing to set up shop in a managed space takes the headache from establishing yourself in a new work hub because everything is handled for you.

These fitted-out spaces customised to your unique business requirements are acquired, designed and overseen by a third-party provider.

Why choose a managed space over a traditional office?

Managed spaces and traditional offices share many similarities with a few crucial differences that make office life less stressful.

1. Versatility

Conventional office spaces are notorious for long-term leases that people are afraid to commit to for the long term and for a good reason.

On average, these contracts last three years where tenants can’t leave the space until it expires. This limits a company’s ability to blossom, grow or adjust to changing circumstances during that lengthy period.

Leases for managed spaces are compromising. Tenants can pay on a month-to-month basis or some other payment plan depending on the office they choose.

2. Costs are fixed

You won't be bombarded by a collection of bills come the end-of-month, have an upfront payment thrust upon you, or have to carefully manage your budget to account for hidden costs.

Amenities, utilities and other related fixed costs are included in your rental plan in a managed space.

3. Dedicated support

When it comes to leasing traditional space, you're solely responsible for setting up shop when you move in initially and your business's smooth operations after that. These activities can be incredibly taxing on your time and capital and may prevent you from moving your business forward.

As previously mentioned, with third-party providers involved in overseeing a managed space, the challenges associated with running an office and resolving maintenance issues fall away.

4. Easier relocations

Relocating your business is undeniably demanding and disruptive. However, moving to managed spaces is less time-intensive than uprooting your company to traditional office space, and likely with less paperwork involved.

...moving to managed spaces is less time-intensive than uprooting your company to traditional office space, and likely with less paperwork involved.

How are coworking spaces and managed spaces different?

Coworking spaces or flexible workspaces and managed spaces are used interchangeably, yet these are two different concepts that share few commonalities.

1. Different markets

Coworking spaces are usually inhabited by entrepreneurs and small start-ups that require limited desk space.

On the other hand, managed spaces are designed for bigger businesses in more advanced stages of growth. These hubs are future-proof, which means there’s additional space that allows businesses to scale up as they expand.

2. Protection and security

Cyberattacks and data leaks are threats to modern businesses, a danger that’s amplified with coworking because you’re sharing a network with people you don’t know.

You choose how your infrastructure is set up with a managed space and who has access to it.

3. Privacy

Coworking spaces are based in a communal environment where professionals from different sectors work separately under the same roof. This work setup is most beneficial because it leads to organic collaboration, ideas sharing, and job opportunities, but to name a few advantages.

However, having little to no privacy is risky for those working with confidential information where co workers might accidentally be privy to classified facts and figures.

Having a managed space permits you the isolation you need away from potentially prying eyes.

4. Greater Sense Of Control

In a coworking environment, you’ll be sharing space with a wide array of people. As such, you can’t control who can access the premises or enter private rooms, which may be cause for concern if your company values privacy or work on sensitive files.

At the same time, you can’t reconfigure the space to how you require it in a coworking office. When it comes to designing managed spaces, you’re allowed to do more than move around your desks and chairs.

5. Design and Aesthetics

Coworking spaces come pre-fitted with furniture, artwork and an office design, which is convenient if you're only looking for a quiet spot to toil away for a couple of hours or meet clients in a professional setting that's not a coffee shop.

However, if you're building your empire and want to impress your clients and stand out against your competitors, coworking probably isn't the way to go.

Besides a personalised coffee cup and other knick knacks at your desk, coworking doesn't allow for company decor, although there are exceptions.

Branding is essential for improving your business's visibility and how it's perceived, and that starts at the workplace.

It's also crucial for building company culture and helping your employees to feel like they're part of a team, which isn't easy to achieve if your office isn't personalised to your brand and working style.

Managed spaces give you the freedom to decide on the custom design and layout of your office.

6. Familiarity

Having the same desk in a room surrounded by work colleagues probably gives you a sense of familiarity.

Usually, no two workdays are the same in a coworking space, especially with your desk neighbours rotating constantly. Some might find this type of work life exciting or stimulating, while others may crave a set routine and familiar faces - which is something you’ll experience in a managed workspace that you share with fellow staffers.

Managed spaces give you the freedom to decide on the custom design and layout of your office.

What do shared and managed spaces have in common?

1. Better flexibility

Being locked into long-term leases are risks that professionals don’t want to take during the challenging times we face. Both shared and managed spaces allow for highly flexible leasing should you outgrow the space or require downsizing.

2. Faster move-ins

Relocating your business - a previously taxing and arduous task - is simplified by moving to a shared or managed space.

Office facilitators or third-party providers arrange everything for you - setup, maintenance and utilities - so that you don’t have to lift a finger.

Both shared and managed spaces allow for highly flexible leasing should you outgrow the space or require downsizing.

Is a managed space for me?

More people are turning away from traditional office spaces for flexible workspace solutions. However, the space you choose depends on the size and nature of your business.

Generally speaking, coworking is only suitable for freelancers, remote workers and small companies of ten people or less.

Convenience and collaboration are the two main advantages of coworking. Convenient in that you can move in straight away and have access to shared amenities that make work life more manageable.

Additionally, in a shared space filled by fellow-minded folk, there’s opportunity to grow your circle of work contacts, gain different perspectives, and generally reap the rewards that come with being in a communal setting.

Managed spaces are better suited for larger companies that require bigger spaces for business expansion, and need a greater degree of security and control over their workspace.

Convenience and collaboration are the two main advantages of coworking.

Let us guide you

We know the search process for a new workspace can be overwhelming, that’s why our team are here to help through every step of the way.