Is Coworking a Better Alternative than a Traditional Office Space?
In Dubai’s property rental market, businesses can either go with a traditional or collaborative office space. Coworking establishments have become a global trend over the last few years, particularly for startups, remote workers, and freelancers. They offer an open-concept layout and are shared among individuals who do not necessarily work for the same company. With so many moving away from traditional offices, is co-sharing workspace a better alternative? Here are the factors to consider:
Leasing a traditional office usually requires a long-term commitment that can tie a business for a minimum of 3 to 5 years. Also, most traditional offices only allow an ‘upward-only’ rent review. This means the payables after the contract should not be less than the rent before the agreement. A coworking space doesn’t require a long-term lease, and a renter can easily upgrade or downgrade their physical space requirements as necessary.
Traditional offices come with a lot of hidden fees. Aside from paying the monthly rent, a business will also have to pay occupancy fees, including property taxes, maintenance fees, and interest on any balance owed. You will have to spend on furniture, equipment, and amenities like a kitchen or meeting room. A coworking space is move-in ready with furniture, equipment, and utilities included in the monthly rent. You can opt to pay extra for the usage of meeting rooms.
With a traditional office, employees get to work in the same environment every day. They may become too familiar with space over time, making them more prone to burn out. Because a coworking space has a more flexible structure, it runs on less routine, which can motivate employees. The frequent change of people and scenery offer a more relaxed working environment, which is essential in lessening the build-up of pressure and stress among employees.
Working in a traditional office space allows you to form strong bonds among your co-employees, but it lacks varied networking opportunities. On the other hand, being in a coworking setting, individuals work alongside different professionals or business owners every day. This allows them to build a valuable network of connections and maybe meet people who require your skills, products, or services.
If you’re still unsure about what office space to rent for your business, Austria Business Center can help. They are the leading providers of coworking and shared offices in Dubai. Their establishments come with great amenities such as a pantry, gym, reception area, and even a meeting room. Whether you want to work at a business center in Business Bay or Dubai Media City, it is possible with Austria Business Center! Give them a call now at +971 4 454 9700.