A serviced office is a furnished and fully-equipped pay-as-you-use office space, located in a building managed by an operator. Operators will rent out single serviced offices or whole floors to their clients, giving them access to private, ready-to-use office space on flexible terms. More businesses are looking to flexible commercial property options like virtual offices and serviced offices as an alternative to conventional office space. As opposed to long leases and hidden costs like maintenance, facility costs, furnishing and equipment installation, serviced offices are managed, fully kitted out and offer transparent monthly, all-inclusive fees. Flexible leases can provide access to office space by the month, enabling businesses to scale up or down as required, and secure office space for remote teams around the world. Serviced offices are also called executive offices, managed offices or business centres. Companies that manage serviced offices are responsible for maintaining the facilities and accommodating businesses. Whether a single office is needed, or adjoining offices are combined for a larger number of employees, spaces can be configured for the best results. This type of flexible workspace is part of a growing global shift as businesses look for more agile ways of procuring office space.

1. Flexible, short-term leases Serviced office rental terms are flexible, and many spaces offer contracts for as briefly as one month. This is ideal for businesses looking to remain agile and work in a space that can expand or reduce at short notice, in line with their business plan. 2. Cost-effective with no downtime Businesses pay only for the space they need in a serviced office, and most are furnished and pre-cabled, providing access to high-quality equipment. This means no downtime while moving in, and can help to free up extra cash for other business priorities. 3. Access to all the facilities needed to run a business Standard facilities in serviced offices include fully-staffed reception desks, kitchens, lunch areas, cleaning and maintenance services, meeting rooms and networking spaces. Businesses can also access additional pay-as-you-use services and facilities. There are no hidden costs, which allows for easy budgeting. 4. Access to new markets Business centres, executive offices or serviced offices are available in several locations around the world, giving users a wide choice when it comes to establishing a base. This gives businesses the opportunity to set up at an address that would otherwise be unaffordable and also provides access to business centres around the world.