Myth busting - Managed office space is not a co-working space
Myth Busting: Managed Office Space vs Co-Working Space
There is a common misconception wherein people often use the terms 'managed office spaces' and 'co-working spaces' interchangeably. Despite their similarities, they are wildly different concepts in the commercial real estate world.
The Professional Touch: What is Managed Office Space?
A managed office is a fully-furnished, serviced office space for companies seeking a more structured, professional work environment. Amenities and services like a receptionist, meeting rooms, IT support,and mail handling are often included. These spaces provide a more stable, secure, and private work environment, making them a good choice for businesses needing confidentiality. These spaces are managed by a third-party company.
Flexibility Meets Community: What is Co-Working Space?
Co-working spaces, on the other hand, are shared work environments for multiple companies, freelancers, remote workers, and startups. They offer a flexible, affordable, and collaborative work environment with a focus on community and networking. Co-working spaces often have amenities like high-speed internet, printing, meeting rooms, and cafes. They foster a relaxed, open, and creative atmosphere that promotes innovation and collaboration. This type of space is typically rented on a short-term basis and shared by multiple people.
What differentiates them?
While managed office space is typically leased on a (comparatively) long-term basis, co-working space is typically rented on a short-term basis. Managed office space is usually fully managed by the provider, meaning that the third party provider typically provides cleaning, administrative support, maintenance, and other services, while co-working space is typically self-managed, meaning that a co-working space provider only provides access to the space itself and nothing beyond it. Managed office space is typically more private and is better suited for companies that need a dedicated space that is dedicated to their particular business. Co-working space is typically more open and is better suited for companies that need and have a flexible workforce.
Office Space: Make the Right Choice for your business.
In conclusion, while managed office spaces and co-working spaces may have similarities, they are fundamentally different working environments. Managed office spaces are ideal for businesses that need a professional, stable, and private working environment, while co-working spaces are better suited for freelancers, remote workers, and startups that value a flexible, creative, and collaborative working environment. Understanding the key differences between these two concepts can help businesses make informed decisions about their working environment and ensure that they are getting the most out of their office space. It is important to understand the differences between these two types of office space in order to choose the right one for your business.