Conventional Leasing vs a flexible workspace: which is best for you? And what are the benefits of choosing a provider with a “landlord as operator” model?
You have two choices when finding an office for your business. You can either enter a long-term lease or opt for a flexible workspace. But how do you decide which option is best for you and your needs? And if choosing Flex, how do you choose your provider?
Our Paddock Offices parent company, Rathdrum Properties, also operates conventional leasing spaces at all three properties in Edgecliff and Parramatta in Sydney and St Kilda Road in Melbourne.
Rathdrum Properties’ eight-storey office tower at 570 St Kilda Road, Melbourne 3004
While on the face of it, rates may seem higher for Flex space than a traditional office, in comparison, there are substantial cost considerations that come with conventional leasing, such as utilities, outgoings, fit, and make-good costs that you should consider.
When comparing this with a quality flex space provider, you also receive a plug-and-play setup, modern amenities, concierge services, utilities, and consumables. It provides a simple solution for all, particularly satellite offices, startups, project teams, and businesses that require scaling due to third-party contracts.
Additional inclusions when you join a flex space unlimited to the above there is also;
Reception services
Cleaning
Internet and Wi-Fi
Printer leasing and supplies
Other consumables include hand soap, paper towels, kitchen products, and toilet paper.
When you take a flexible workspace with Paddock Offices, you don’t need to worry about any of those costs. Our kitchens are stocked with all the coffee, tea, and snacks needed to keep everyone going; internet and printing are included in the monthly fee, and we provide the admin, front of house, and reception team. And naturally, toilet paper, hand dryers, and soap are stocked in the bathrooms.
A bonus is that meeting rooms and breakout spaces are available at all our locations. Need to get the team together on an ad-hoc basis? Just book a room. The same goes for regular staff, client, or partner meetings. Our meeting room bookings are also included in our monthly fee, so you’re not paying for space you don’t need. All our meeting rooms have teleconference equipment, so remote workers can join in and feel like they’re an integral part of the team, even in another city, state, or country.
16-person Boardroom at Paddock Offices Melbourne
A flexible office has everything you need to focus on growing your business and providing an excellent environment for your people to do their best work without dealing with a long-term lease.
When you partner with Paddock Offices, there is no lengthy application process like with a lease, and sign-up to move in generally happens within 24 hours. Nor are there substantial bank guarantees tying up valuable cash flow.
We have month-to-month terms, allowing for flexibility, and if you decide to leave, we don’t charge any make-good fees. Visitor parking and access to a network of spaces across two states are also a bonus.
If you’re keen on exploring the world of podcasting or are already a podcaster, we also offer a state-of-the-art studio with all the latest equipment at our Melbourne location. Podcasts are a great way of engaging your customers and keeping partners informed about the latest developments in your business.
Finally, as your business grows, you can access different-sized workspaces while keeping the same address, and that may even be as a traditional tenant in the building.
Private offices to suit teams of up to 15.
On the surface, there’s not much difference in the cost between a lease and a flexible workspace. Dig a little deeper, however, and it’s clear that a flexible space comes out on top for business owners who value flexibility and the ability to control cash flow tightly.
When it comes time to choose your flexible workspace provider, there are a few factors to consider. The top two driving factors that tenants will always think about first are Location and Budget. So, once you have shortlisted providers that tick those boxes, there are a few other things you should consider that probably won’t even cross your mind:
Do you have confidence in the provider?
What happens if the provider can’t continue to operate a viable business?
What would this mean for your business operations if you were to be displaced?
One thing that sets Paddock Offices apart is that we are a fifth-generation family-run and led operation. We operate our co-working spaces out of owned assets to remain agile and adaptable while providing stability to our members. It also allows us to accommodate a single desk user through to total floor occupiers.
Start your Paddock Offices journey today.
Rathdrum Properties’ 4-storey building in Edgecliff NSW. Home to Paddock Offices HQ