A-Z Flexible Office Glossary for Beginners
Navigating the evolving workspace scene requires understanding flexible office terminologies. Explore this flexible office glossary to familiarise yourself with commonly used terms in the industry;
Amenities
Amenities can be described as any facility that may provide comfort and convenience to a tenant. These additional features aim to enhance the workspace experience beyond basic functionalities. A top-notch flexible office space typically offers high-speed internet, coffee or tea, meeting rooms, and collaborative spaces.
Broker
A broker is an intermediary facilitating transactions between two parties, such as a workspace provider and an office space seeker. They connect buyers and sellers in the real estate market. They also assist in negotiations and paperwork for a commission.
Coworking Space
A coworking space is a shared environment that brings together individuals from different industries for work purposes. This flexible office rental solution is usually located in prime business districts with prestigious addresses. It also usually comes with shared resources like meeting rooms, storage, kitchen, etc.
Day Pass
A day pass grants temporary access to a coworking space for a single day. It's ideal for freelancers or remote workers seeking a workspace for a short period. For instance, a professional visiting a city for a day may purchase a day pass to utilise a flexible office, London.
Dedicated Desk
A dedicated desk is an exclusively assigned workstation within a shared environment for an individual or a team. It offers a consistent, personalised workspace with access to the available resources within a flexible office space.
Executive Suites
An executive suite is also known as a serviced office space. This is a type of office solution where everything you need for work is already available in a fully furnished workspace. Executive suites are also deemed to be a more cost-effective office solution than traditional ones, catering to much bigger business sizes.
This flexible office glossary has much more in store for you! Keep reading to uncover terms to help you look for the best flexible space for your business!
Enterprise Office Space
An enterprise office space is a large-scale office solution designed for established corporations or expanding businesses. It typically involves leasing an entire floor or a substantial area within a building, customised to fit the company's specific needs.
Flexitime
Flexitime is a work arrangement that allows employees flexibility in setting their work hours. Employees can determine their work hours within set boundaries, allowing for variations from the typical 9-to-5 schedule. For example, one might start at 10 AM and conclude the workday at 6 PM.
Hot Desking
Hot desking refers to temporarily using an unassigned desk within a shared workspace. Users can select any available desk each day. This flexible office arrangement is prevalent in the United Kingdom, with about 56% of employees in the UK embracing hot desks today.
Hybrid Working
Hybrid working is a flexible work arrangement combining remote work with in-office presence. Employees split their time between working remotely and in a physical office space. This setup is usually employed to promote flexibility and productivity.
Leased Office Space
Leased office space is the counterpart of a serviced office. It involves a long-term agreement where a business rents or leases a designated office area from a landlord or property owner. Unlike flexible office rental solutions, you can control your design, layout, and equipment in a leased office space.
Managed Office
A managed office is a fully equipped and serviced workspace typically overseen by a third-party provider. In contrast to a serviced office, you own the space in a managed office. This grants greater freedom for customisation and office maintenance is taken care of.
Private Office
A private office is an exclusive workspace dedicated to a single individual or a team within a larger office setting. It offers an enclosed space for focused work and confidentiality.
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PropTech
PropTech, short for Property Technology, refers to using technology to innovate, enhance, and streamline processes within the real estate industry. It includes digital platforms, software, and hardware to improve property management, transactions, and real estate experience. Examples include online property listing platforms and smart building management systems.
Remote Work
Remote work refers to a work arrangement where employees perform their duties from a location outside the traditional office environment. It allows flexibility, enabling individuals to work from home, cafes, or other remote locations using digital tools and technology.
Shared Office Space
Shared office space is a collaborative, flexible office rental solution, where individuals or businesses share a common work environment. It includes facilities like desks, meeting rooms, and communal areas.
Sublet Office/Subletting
Subletting an office involves renting out part or all of a tenant's space. For instance, if a company occupies an office and leases part of it to another business, that's subletting. It allows the original tenant to share or reduce their office costs.
Want to take a break from this flexible office glossary? Use your time to review our guide to find the perfect workspace for your business and find your match today!
Temporary Office Space
Temporary office space refers to short-term rental areas used for a finite period. Companies might lease such spaces during expansions, renovations, or for project-based work. These offices are often fully furnished and equipped.
Traditional Office Space
Traditional office space refers to conventional work environments where businesses lease or own designated areas within a building. Unlike a flexible office space, a traditional one is typically fixed, long-term, and less flexible in design.
Virtual Office
A virtual office is a remote business solution providing professional services without a physical office. It offers a business address, mail handling, phone services, and occasional access to meeting spaces.
Explore the World of Flexible Offices Now!
The flexible office glossary above is a beneficial tool for navigating the industry when looking for a flexible space. Understanding these terms—from coworking spaces to serviced offices—empowers informed decisions in workspace selection.
If you’re ready to find your flexible office, London, Office Hub is here to help! We provide diverse flexible workspace solutions for businesses of all sizes. Connect with our team today to kickstart your hassle-free journey towards your perfect workspace.
