If you’re starting your search for a new office, you’ve probably found yourself navigating a number of key decisions – and that’s before you’ve even started to make your shortlist of spaces.
With so many different options on the market, how do you know which one is right for you and your team? Whether it be the term length, facilities or requirements for the space, you’ll need to understand what each solution can provide for your business.
Alongside serviced and conventional solutions, a managed office is now one of the key options for businesses searching for a new space.
We’ve put together this guide to help you understand what’s included.
What is a managed office?
A managed office is a bespoke space that can be tailored to a business's exact specifications, and is complete with a full range of services (and management) for a hassle-free experience. Tenants are given more control over their own workspace, with allowances made for changes to the design and layout.
Managed operators will charge an all-inclusive monthly price, which covers everything from cleaning, kitchen supplies and wi-fi to any other pre-agreed add-ons.
As a solution, it gives you the best of both worlds – the simplicity of a serviced office or coworking space and the privacy of a conventional lease.
What’s the difference between an office lease and an office licence?
An office lease is a long-term - or fixed - contract that provides tenants with more control and rights over their space. Much like buying a home, this means a business can make changes to the property and determine who has access to it.
In contrast, renting an office means that, as a tenant, you won’t be able to make changes to the property as it is still the responsibility of the owner/landlord.
Although average term lengths on leases have decreased in recent years, a rental licence will usually be shorter, with office spaces typically let for a period of 1-3 years (versus 3-10 years on a lease).
What’s included in a managed lease?
For the below, we’ve used examples and a breakdown from a Kitt managed lease to detail what your contract will cover. Different providers may vary their offering and add-ons, but you can expect a similar core package from each managed solution.
Property fees
A large percentage of the overall lease cost will go towards the building itself. This includes renting the space, service charges and insurance for the asset (which the Landlord is responsible for).
Design and fit-out
Managed offices are a great option for businesses looking to put their stamp on a space because of the bespoke design capabilities that they afford. You’ll go through a collaborative and expert-led design process to help create the perfect space for you and your team, and with no upfront capital expenditure (CapEx) as the subsequent fit-out will be covered in the all-inclusive monthly price.
This will include everything that was agreed as standard in your contract, such as furniture, fittings and branded features (a wall or product showcase, for example). This is different to a conventional lease, in which you’ll need to pay upfront for furniture and fittings.
Additionally, the management of the fit-out is also included in your contract, so you won’t need to worry about sourcing or negotiating with contractors to get the space ready for your team.
Space management and support
Deals for leases can be complex and time-consuming, often coming with various stages of negotiations, management processes and legal feels. But, with a managed office you’ll have all of this covered in your contract. So, when the offer is in you’ll be able to let the experts handle the dotting of the i’s and crossing of the t’s.
The included management of the space is similar to how a serviced office might operate. Once you’re in the door, you’ll have access to a dedicated account manager who will be your go-to for all management queries.
They’ll be supported by an entire team, who will help you navigate everything from repairs and maintenance to space onboarding. And all of this will be wrapped up into an app for you and your team to use!
Services
Your managed lease will include a range of core services to help your team thrive in their space, ranging from essential day-to-day maintenance to the upkeep of your office plants through our friends at Lease a Leaf.
As a standard with Kitt, your space will be cleaned daily and any maintenance or repairs will be covered. You’ll also get kitchen and bathroom supplies which will be topped up regularly for your team, as well as tea, coffee and milk (essential for most!)
Other fundamental operations are also included, such as security, wifi and health & safety checks.
How do I search for a managed office?
Finding an office can be tricky – the journey is incredibly fragmented with a number of different stops along the way.
That's where we come in. At Kitt, we work with businesses to define what they want to achieve from their space, and support them all the way from finding an office through to thriving in it.
This means that the whole journey is taken care of. From organising viewings to designing and fitting out a bespoke space, everything is covered by us to help make the tenant experience as hassle-free as possible.
If you’re ready to learn more about how a managed office solution could work for your business, get in touch with the team or find out more over on our How Kitt Works page.
