List Of Disadvantages Of Traditional Office Space

As Real Estate prices continue to surge every day, more and more companies are considering the option of serviced offices that offer shorter lease periods, and of course, are less expensive than a traditional office space. The trend is to have a traditional office as headquarters and have serviced offices as branches in other cities and countries. These serviced offices come fully furnished and with all facilities like hi-speed internet services etc.

Here’s a list of disadvantages of investing or leasing a traditional office space:

Facilities and Services: A traditional office space requires the leaser or the owner to take care of all facilities and services required to run a functional company like hiring a cleaning crew, setting up equipment, and looking into security matters. If the office is not furnished, it would involve the additional expenses of buying furniture and other such things. A serviced office of on the other hand, comes with all these services and facilities set up.

Cost and Expenses: Purchasing a traditional office space in the right location especially in Tier 1 cities like Bangalore can be very expensive. They often come at high prices and with restrictive lease agreements. In comparison, serviced offices often have simple one-month plans with ease of downsizing and with simple one-month notice periods. For example, settling for a serviced office space in Bangalore could work out cheaper considering soaring real estate prices in prime areas.

Flexibility: Traditional office spaces lack the flexibility that serviced offices offer. Leasing a prime piece of property in a central location often comes with long lease periods and very high-priced deposits. The minimum lease period is also longer. On the other hand, serviced office or fully furnished office in in Gurgaon, Bangalore, Mumbai and other cities that are in high demand, come with flexible short term and long term plans.

If you want to know other Disadvantages of a Traditional Office Space, you can visit source blog.

Source:https://yourexpertguide.wordpress.com/2018/02/16/disadvantages-of-a-traditional-office-space/