Office rent is the second-highest fixed cost for most businesses out there. Does this make sense if you and your employees are no longer spending all your time there?&nbsp;No. In fact, finding the right workplace balance could reduce your spend by 25% and offer more flexibility and optionality.



These savings are becoming increasingly important as inflation continues to dominate the news and a recession looms. Investment bank, <a rel="noreferrer noopener" href="https://www.bloomberg.com/news/articles/2022-08-30/goldman-sachs-says-uk-inflation-is-at-risk-of-topping-22" target="_blank">Goldman Sachs</a>, recently forecasted that inflation could surpass 22% in the UK early next year, marking the highest peak for almost half a century. 



This issue impacts business owners everywhere.&nbsp;So, allow us to tell you how and why <a rel="noreferrer noopener" href="https://hubblehq.com/" target="_blank">Hubble</a> can help your business not only survive, but thrive, through this period of financial turmoil.



<figure class="wp-block-image size-full"><a href="https://hubblehq.com/"><img data-attachment-id="22861" data-permalink="http://blog.hubblehq.com/start-your-search/" data-orig-file="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/11f7e-start-your-search.png" data-orig-size="900,100" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="START-YOUR-SEARCH" data-image-description="" data-image-caption="" data-medium-file="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/11f7e-start-your-search.png?w=300" data-large-file="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/11f7e-start-your-search.png?w=900" loading="lazy" width="900" height="100" src="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/11f7e-start-your-search.png" alt="Hubble HQ" class="wp-image-22861" srcset="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/11f7e-start-your-search.png 900w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/11f7e-start-your-search.png?w=150&amp;h=17 150w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/11f7e-start-your-search.png?w=300&amp;h=33 300w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/11f7e-start-your-search.png?w=768&amp;h=85 768w" sizes="(max-width: 900px) 100vw, 900px" /></a></figure>



<h2 class="wp-block-heading">You don&#8217;t have to commit to a long-term lease</h2>



With <a rel="noreferrer noopener" href="https://hubblehq.com/" target="_blank">Hubble HQ</a>, you can take a serviced office for as little as one month, whilst more traditional leases will run for around three years and beyond.



This is perhaps the main perk of implementing a hybrid working strategy with Hubble as we head for a recession, especially if you don&#8217;t have an enormous amount of money to throw at your monthly rental budget.



<figure class="wp-block-image size-full"><a href="https://hubblehq.com/pass/office-space/5072/uncommon-liverpool-street"><img data-attachment-id="22535" data-permalink="http://blog.hubblehq.com/uncommon-liverpool-street-2/" data-orig-file="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/c8359-uncommon-liverpool-street.jpeg" data-orig-size="900,600" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Patrick Williamson&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;Hasselblad H6D&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}" data-image-title="Uncommon-Liverpool-Street" data-image-description="" data-image-caption="" data-medium-file="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/c8359-uncommon-liverpool-street.jpeg?w=300" data-large-file="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/c8359-uncommon-liverpool-street.jpeg?w=900" loading="lazy" width="900" height="600" src="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/c8359-uncommon-liverpool-street.jpeg" alt="Uncommon, Liverpool Street" class="wp-image-22535" srcset="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/c8359-uncommon-liverpool-street.jpeg 900w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/c8359-uncommon-liverpool-street.jpeg?w=150&amp;h=100 150w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/c8359-uncommon-liverpool-street.jpeg?w=300&amp;h=200 300w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/c8359-uncommon-liverpool-street.jpeg?w=768&amp;h=512 768w" sizes="(max-width: 900px) 100vw, 900px" /></a></figure>



<h2 class="wp-block-heading">You don&#8217;t need to pay for a massive office</h2>



Today, <a href="https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/articles/ishybridworkingheretostay/2022-05-23" target="_blank" rel="noreferrer noopener">51% of employees have flexible working arrangements in their current role</a>, with 37% of organisations seeing increased demand for such arrangements.&nbsp;



This eliminates the need for you to spend a large amount on an office that can hold everyone five days a week as a massive proportion of your employees won&#8217;t want to come in as often as that anyway.



<figure class="wp-block-image size-full"><a href="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6d41b-hubble-quote-2.png"><img data-attachment-id="22832" data-permalink="http://blog.hubblehq.com/hubble-quote-2/" data-orig-file="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6d41b-hubble-quote-2.png" data-orig-size="900,600" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="Hubble-Quote-2" data-image-description="" data-image-caption="" data-medium-file="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6d41b-hubble-quote-2.png?w=300" data-large-file="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6d41b-hubble-quote-2.png?w=900" loading="lazy" width="900" height="600" src="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6d41b-hubble-quote-2.png" alt="Hubble" class="wp-image-22832" srcset="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6d41b-hubble-quote-2.png 900w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6d41b-hubble-quote-2.png?w=150&amp;h=100 150w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6d41b-hubble-quote-2.png?w=300&amp;h=200 300w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6d41b-hubble-quote-2.png?w=768&amp;h=512 768w" sizes="(max-width: 900px) 100vw, 900px" /></a></figure>



This is an area where the <a rel="noreferrer noopener" href="https://hubblehq.com/pass" target="_blank">Hubble Pass</a> can help you. By prioritising relationship building when using the office and hosting solution-focused meetings, <a rel="noreferrer noopener" href="https://hubblehq.com/blog/how-to-master-the-art-of-hybrid-working-in-a-few-simple-steps" target="_blank">your employees will get more out of their days in the office</a> and you&#8217;ll rarely need space for everyone.



<h2 class="wp-block-heading">Your employees&#8217; salaries will stretch further</h2>



Commuting to and from the office five days a week is a costly affair, especially for those travelling long distances. Minimising travel expenses throughout the year acts somewhat as a tax-free salary increase, though, freeing up money for more joyous expenditures.



These savings will become increasingly important with the UK&#8217;s economic outlook set to worsen, perhaps to the point where people with very little flexibility in their roles seek new opportunities that can offer more.



<h2 class="wp-block-heading">Your employees will get more done, and so will you</h2>



According to the <a rel="noreferrer noopener" href="https://www.nber.org/papers/w28731" target="_blank">National Bureau of Economic Research</a>, allowing your team to work remotely boosts productivity and engagement by 4.5%. <a rel="noreferrer noopener" href="https://globalworkplaceanalytics.com/whitepapers" target="_blank">Global Workplace Analytics</a> has taken this further, suggesting that employers could save around £9,300 per employee each year by allowing them to work from home half of the time.



Why? Well, <a rel="noreferrer noopener" href="https://sprigghr.com/blog/thought-leadership/remote-work-increases-engagement-and-performance/#:~:text=The%20Rise%20in%20Remote%20Work&amp;text=Gallup%20research%20has%20shown%20that,%2C%20and%2021%25%20higher%20profitability." target="_blank">Spring HR</a> claims that those who work remotely up to 80% of the time are optimally engaged, with the most motivated generating a 15% productivity boost for the company.&nbsp;On this basis, your company&#8217;s productivity, profitability and retention will be heightened, and this will ultimately save you money.



<h2 class="wp-block-heading">Don&#8217;t just survive, thrive with Hubble</h2>



The uncertainty we&#8217;re faced with right now is unsettling, but there are measures you can take to ensure you&#8217;re prepared for the worst.



Getting your hybrid working strategy in check is a great starting point. It cuts rental costs, it keeps employees happy, it boosts productivity, and it allows your to operate more flexibly in these uncertain times.



<figure class="wp-block-image size-large"><a href="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6f1f5-5.png"><img data-attachment-id="22864" data-permalink="http://blog.hubblehq.com/5-21/" data-orig-file="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6f1f5-5.png" data-orig-size="1200,628" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="5" data-image-description="" data-image-caption="" data-medium-file="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6f1f5-5.png?w=300" data-large-file="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6f1f5-5.png?w=1024" src="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6f1f5-5.png?w=1024&#038;h=536" alt="" class="wp-image-22864" srcset="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6f1f5-5.png?w=1024&amp;h=536 1024w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6f1f5-5.png?w=150&amp;h=79 150w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6f1f5-5.png?w=300&amp;h=157 300w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6f1f5-5.png?w=768&amp;h=402 768w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/6f1f5-5.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



So, why not take a look at the wonderful full-time office spaces you can call home with <a rel="noreferrer noopener" href="https://hubblehq.com/" target="_blank">Hubble HQ</a>? Whether you&#8217;re a team of 5 or 500, our in-house experts are here to help.



And don&#8217;t forget, if you&#8217;d rather just have access to a global network of coworking space, private day offices, meeting rooms and event space, the <a rel="noreferrer noopener" href="https://hubblehq.com/pass" target="_blank">Hubble Pass</a> is ready and waiting.



<figure class="wp-block-image size-full"><a href="https://hubblehq.com/"><img data-attachment-id="22862" data-permalink="http://blog.hubblehq.com/start-your-search-1/" data-orig-file="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/487c6-start-your-search-1.png" data-orig-size="900,100" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="START-YOUR-SEARCH-1" data-image-description="" data-image-caption="" data-medium-file="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/487c6-start-your-search-1.png?w=300" data-large-file="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/487c6-start-your-search-1.png?w=900" loading="lazy" width="900" height="100" src="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/487c6-start-your-search-1.png" alt="Hubble HQ" class="wp-image-22862" srcset="https://hubblehq.wordpress.com/wp-content/uploads/2022/12/487c6-start-your-search-1.png 900w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/487c6-start-your-search-1.png?w=150&amp;h=17 150w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/487c6-start-your-search-1.png?w=300&amp;h=33 300w, https://hubblehq.wordpress.com/wp-content/uploads/2022/12/487c6-start-your-search-1.png?w=768&amp;h=85 768w" sizes="(max-width: 900px) 100vw, 900px" /></a></figure>

Future of Work

Hybrid Working

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Find Your New Office Space Now

<ul class="wp-block-list">
<li><a href="#serviced-office">What is a serviced office space?</a></li>



<li><a href="#benefits-serviced">The benefits and disadvantages of a serviced office space</a></li>



<li><a href="#benefits-managed">The benefits and disadvantages of a managed office space</a></li>



<li><a href="#suitable-arrangement">So, which type of arrangement is suitable for your business?</a></li>
</ul>



Our expert advisors at HubbleHQ are often asked what the difference is between a <a href="https://hubblehq.com/guides/serviced-offices">serviced</a> and <a href="https://hubblehq.com/guides/managed-offices">managed</a> office. Due to an overlap of features that appear to be quite similar at first glance, there exists some understandable confusion about what differentiates the two arrangements. To help business owners and managers who are considering either of these options, we’ve put together a handy guide to clearly outline the benefits and disadvantages of both.



<figure class="wp-block-image"><img data-attachment-id="12106" data-permalink="http://blog.hubblehq.com/2019/02/11/differences-serviced-managed-offices/rnr/" data-orig-file="https://hubblehq.wordpress.com/wp-content/uploads/2019/02/rnr.jpg" data-orig-size="900,600" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;11&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7RM2&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1539170448&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;17&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.8&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}" data-image-title="rnr" data-image-description="" data-image-caption="" data-medium-file="https://hubblehq.wordpress.com/wp-content/uploads/2019/02/rnr.jpg?w=300" data-large-file="https://hubblehq.wordpress.com/wp-content/uploads/2019/02/rnr.jpg?w=900" loading="lazy" width="900" height="600" src="https://hubblehq.wordpress.com/wp-content/uploads/2019/02/rnr.jpg" alt="rnr" class="wp-image-12106" srcset="https://hubblehq.wordpress.com/wp-content/uploads/2019/02/rnr.jpg 900w, https://hubblehq.wordpress.com/wp-content/uploads/2019/02/rnr.jpg?w=150&amp;h=100 150w, https://hubblehq.wordpress.com/wp-content/uploads/2019/02/rnr.jpg?w=300&amp;h=200 300w, https://hubblehq.wordpress.com/wp-content/uploads/2019/02/rnr.jpg?w=768&amp;h=512 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>



Looking for a new office, but not sure how much it should cost? Use our <a href="https://hubblehq.com/blog/office-space-calculator" target="_blank" rel="noopener">Ultimate Office Cost Calculator</a>&nbsp;to get an estimate!



<h2 class="wp-block-heading" id="serviced-office">What is a serviced office space?</h2>



A <a href="https://hubblehq.com/guides/serviced-offices">serviced</a> office, as with serviced apartments, is a workspace that can be rented on a flexible, short-term basis and offers inbuilt facilities such as clerical support, reception staff and WiFi. A tenant pays an all-in cost per desk each month and will typically sign for a term of 1-12 months. The office space is fitted out and designed to the specification of the provider, enabling a tenant to simply turn up and start working. 



A <a href="https://hubblehq.com/guides/managed-offices">managed office</a> is similar to a serviced office, in that both provide flexible space that is operated by a separate party. However, the key difference with this type of office is that a managed office requires greater input from the tenant, with the space itself a blank canvas that needs to be filled. A tenant must define their exact requirements, from the number of desks, chairs and meeting rooms to floor finishes, so that the provider can deliver exactly what is needed – effectively making a&nbsp;managed office a custom-built workspace.&nbsp;A tenant is normally required to commit to term of 12 months but rather than pay per desk, a tenant pays for the amount of space they occupy. 



<h2 class="wp-block-heading" id="benefits-serviced">The benefits and disadvantages of a serviced office space</h2>



The contract length for a serviced office can range from just one month up to 3 years, making this style of arrangement particularly suitable for startups and small businesses that value flexibility and want to minimise upfront capital expenditure such as furniture and partitioning. 



The Key Benefits



<ul class="wp-block-list">
<li>Ease of set-up&nbsp;&#8211; Office-as-a-service style solutions provide ready-to-go premises where you can simply turn up, plug in your IT equipment and start working.</li>



<li>Greater flexibility &#8211; Shorter contracts offer a much greater degree of flexibility for younger companies with changeable growth forecasts.</li>



<li>All-inclusive &#8211; Modern providers offer a range of attractive, all-inclusive features such as: breakout areas, free tea, coffee and WiFi, meeting rooms, and social spaces.</li>



<li>Collaborative environments &#8211; A shared serviced office space can often provide smaller businesses an increased level of networking opportunities and encourage collaborative working.</li>



<li>Simpler accounting &#8211; An all-inclusive contract means just one invoice, which can be paid monthly for greater control of cash flow (unlike conventional leases which are paid quarterly).</li>



<li>Low set-up costs &#8211; Serviced solutions relieve tenants of the significant upfront capital expenditure associated with conventional leases.</li>



<li>No dilapidations liability &#8211; Landlords can’t seek undefined financial settlements for building damages at the end of the contract.</li>
</ul>



The Key Disadvantages 



<ul class="wp-block-list">
<li>Limited branding opportunities &#8211; Besides, perhaps, removable adhesive versions of your company logo on the doors or windows; a serviced space will otherwise be very limited in terms of customisation. This enables the host to quickly relet the space once you have vacated it.&nbsp;</li>



<li>Higher cost per square foot &#8211; Having everything set out for you, including access to communal meeting rooms and other perks, means you may pay a premium for use of those services and all-inclusive amenities.</li>



<li>Extras may be expensive &#8211; Should you require extras, such as a dedicated meeting room for use by your business only, you may have to pay a much higher price compared to what you might pay with an in-built meeting area.</li>
</ul>



<figure class="wp-block-image"><img data-attachment-id="12107" data-permalink="http://blog.hubblehq.com/2019/02/11/differences-serviced-managed-offices/labs-hogarth/" data-orig-file="https://hubblehq.wordpress.com/wp-content/uploads/2019/02/labs-hogarth.jpg" data-orig-size="900,600" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}" data-image-title="LABS Hogarth" data-image-description="" data-image-caption="" data-medium-file="https://hubblehq.wordpress.com/wp-content/uploads/2019/02/labs-hogarth.jpg?w=300" data-large-file="https://hubblehq.wordpress.com/wp-content/uploads/2019/02/labs-hogarth.jpg?w=900" loading="lazy" width="900" height="600" src="https://hubblehq.wordpress.com/wp-content/uploads/2019/02/labs-hogarth.jpg" alt="LABS Hogarth.jpg" class="wp-image-12107" srcset="https://hubblehq.wordpress.com/wp-content/uploads/2019/02/labs-hogarth.jpg 900w, https://hubblehq.wordpress.com/wp-content/uploads/2019/02/labs-hogarth.jpg?w=150&amp;h=100 150w, https://hubblehq.wordpress.com/wp-content/uploads/2019/02/labs-hogarth.jpg?w=300&amp;h=200 300w, https://hubblehq.wordpress.com/wp-content/uploads/2019/02/labs-hogarth.jpg?w=768&amp;h=512 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>



<h2 class="wp-block-heading" id="benefits-managed">The benefits and disadvantages of a managed office space</h2>



The average contract length for a <a href="https://hubblehq.com/guides/managed-offices">managed</a> office is typically between 1-3 years, making this a more suitable option for scaleup businesses and SMEs. A distinct advantage of a managed contract is the flexibility it offers to brand and customise the workspace. 



The Key Benefits



<ul class="wp-block-list">
<li>Bespoke set-up &#8211; Unlike serviced space, managed offices can be fully branded and customised in terms of interior design, furniture, and wall art.</li>



<li>Built to order &amp; spacious &#8211; A managed office is usually let on a per square foot basis, rather than by the number of desks within the space. Therefore, you pay for the amount of space you occupy rather than the number of desks you take. </li>



<li>Simpler accounting &#8211; As with a serviced arrangement, a managed office presents the perk of one, all-inclusive invoice each month – offering smaller businesses greater control of their cash flow.</li>



<li>Flexible deposits &amp; lower set-up costs &#8211; Sourcing a short or long-term conventional lease can be very cash flow intensive, given that some landlords request the equivalent of 12 months’ rent in advance for a deposit, aside from of the capital expenditure required to fit out an office. A managed office arrangement is much more flexible, as the provider pays for the fit out and deposits vary between 2-3 months rent. </li>



<li>Client-friendly &#8211; A managed space is arguably better for servicing the needs of your clients as the breakout areas and meeting rooms within the unit are for your use only rather than shared with other businesses, as is often the case with a serviced style arrangement</li>



<li>No fees &#8211; Conventional leases require the tenant to pay solicitors’ fees, agents’ fees and stamp duty. As the managed space is controlled directly by the host, these fees do not apply under this type of arrangement. </li>
</ul>



The Key Disadvantages 



<ul class="wp-block-list">
<li>More expensive (than a lease) &#8211; As with all good things, the tenant pays a premium for the flexibility, management of the office, and bespoke nature of the fit out. </li>



<li>More time intensive &#8211; In contrast to a serviced style arrangement, where you can simply turn up and start working, a managed office transaction requires a tenant to allow enough time for office to be fitted out. </li>
</ul>



<h2 class="wp-block-heading" id="suitable-arrangement">So, which type of arrangement is suitable for your business?</h2>



By now, hopefully, we have cleared up any confusion you might have had in understanding the differences between a serviced and managed office space. As a general guide, a serviced licence agreement is most likely to be most suited to younger businesses with high growth forecasts, as the flexibility provides greater ease to scale up. A managed office is most likely to suit a more established, small to medium size business, looking for a longer term arrangement that can be fully customised and branded to meet exacting requirements.



Still not 100% sure which type of office is suitable for your business? <a href="https://hubblehq.com/blog/which-office-type-flowchart" target="_blank" rel="noopener noreferrer">Take a look at our handy flowchart</a>, then answer the simple questions to find out which arrangement is the right one for you.



<figure class="wp-block-image"><a href="https://hubblehq.com/"><img data-attachment-id="26525" data-permalink="http://blog.hubblehq.com/2019/02/11/differences-serviced-managed-offices/find-your-new-office-space-now/" data-orig-file="https://hubblehq.wordpress.com/wp-content/uploads/2019/02/find-your-new-office-space-now.png" data-orig-size="900,100" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="Find Your New Office Space Now" data-image-description="" data-image-caption="" data-medium-file="https://hubblehq.wordpress.com/wp-content/uploads/2019/02/find-your-new-office-space-now.png?w=300" data-large-file="https://hubblehq.wordpress.com/wp-content/uploads/2019/02/find-your-new-office-space-now.png?w=900" loading="lazy" width="900" height="100" src="https://hubblehq.wordpress.com/wp-content/uploads/2019/02/find-your-new-office-space-now.png" alt="Find Your New Office Space Now" class="wp-image-26525" srcset="https://hubblehq.wordpress.com/wp-content/uploads/2019/02/find-your-new-office-space-now.png 900w, https://hubblehq.wordpress.com/wp-content/uploads/2019/02/find-your-new-office-space-now.png?w=150&amp;h=17 150w, https://hubblehq.wordpress.com/wp-content/uploads/2019/02/find-your-new-office-space-now.png?w=300&amp;h=33 300w, https://hubblehq.wordpress.com/wp-content/uploads/2019/02/find-your-new-office-space-now.png?w=768&amp;h=85 768w" sizes="(max-width: 900px) 100vw, 900px" /></a></figure>

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Serviced and Managed Offices: What’s the Difference?

Still

FIND YOUR PERFECT OFFICE

What exactly is a <a href="https://hubblehq.com/guides/managed-offices">managed</a> office, how do you know if it&#8217;s the right option for you, and if so, how do you go about finding one? Here&#8217;s what you need to know about managed offices in a three minute video intro by our Tenant Advisory Lead and Chartered Surveyor, Freddie Cousens:


<iframe class="youtube-player" width="560" height="315" src="https://www.youtube.com/embed/7nni290uijk?version=3&#038;rel=1&#038;showsearch=0&#038;showinfo=1&#038;iv_load_policy=1&#038;fs=1&#038;hl=en&#038;autohide=2&#038;wmode=transparent" allowfullscreen="true" style="border:0;" sandbox="allow-scripts allow-same-origin allow-popups allow-presentation allow-popups-to-escape-sandbox"></iframe>



<figure class="wp-block-image"><a href="https://hubblehq.com/"><img data-attachment-id="13177" data-permalink="http://blog.hubblehq.com/?attachment_id=13177" data-orig-file="https://hubblehq.wordpress.com/wp-content/uploads/2019/09/find-new-office-now-e1580135890118.png" data-orig-size="900,99" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="find-new-office-now" data-image-description="" data-image-caption="" data-medium-file="https://hubblehq.wordpress.com/wp-content/uploads/2019/09/find-new-office-now-e1580135890118.png?w=300" data-large-file="https://hubblehq.wordpress.com/wp-content/uploads/2019/09/find-new-office-now-e1580135890118.png?w=900" src="https://atomic-temporary-87725556.wpcomstaging.com/wp-content/uploads/2019/09/find-new-office-now.png" alt="find-new-office-now" class="wp-image-13177" /></a></figure>



Prefer to read rather than watch? No problem – here&#8217;s all you need to know:



<h3 class="wp-block-heading">What exactly is a managed office?</h3>



<a href="https://hubblehq.com/guides/managed-offices">Managed office solutions</a> are effectively an extension of a <a href="https://hubblehq.com/guides/serviced-offices" target="_blank" rel="noopener">serviced office</a>, the main difference being that a managed office is bespoke to a company&#8217;s requirements. Rather than being defined by the number of desks you can fit into the space, you get allocated an office which is determined by the overall square footage of the unit, which is then delivered and built according to the exact specification by the you, the tenant.



<h3 class="wp-block-heading">What are the benefits of a managed offices?</h3>



The benefits of managed offices are similar to those of serviced offices, as you get an all-inclusive, flexible contract where all of your outgoings are paid in one invoice at the end of each month – rather than quarterly in advance, which is how a lease works. In addition, with managed offices the professional fees tend to be covered by the operator as opposed to the tenant, and there’s much more flexibility when it comes to deposits.



Finally, of course, being a managed office, the space is tailor-made to your company&#8217;s specifications, which then helps you establish your brand as well as your internal culture.



<h3 class="wp-block-heading">What are the disadvantages of a managed office?</h3>



Like with all good things, there are disadvantages to managed office solutions – the main one being that they can be expensive, as you pay a premium for their bespoke nature. This is because an operator will come in and fit out the space for your company alone, and you have exclusive occupation of the space. The cost of the fit out is then wrapped up into the all-inclusive monthly rent and then amortised across the length of the contract.



<h3 class="wp-block-heading">Who typically requires a managed office?</h3>



Managed offices typically suit companies who are looking for a flexible office setup that isn&#8217;t a&nbsp;classic serviced office, but who can’t (or don&#8217;t want to) take on the up-front costs required by a <a href="https://hubblehq.com/private-offices">private office</a> lease. A managed office is that perfect in between stage.



They particularly suit really high growth companies, or even larger businesses who are looking for space for their project teams.



<h3 class="wp-block-heading">How can I find a managed office?</h3>



Finding a managed office in London is actually quite difficult, because there are very few available on the market at the moment as a ready-to-go product – so that’s where we at Hubble come in. Specialising in flexible office space, we can help put together a managed office solution, either directly via either a landlord or a tenant, or by using a third party.



Interested in a managed office? Want to find out if this is the best option for your company? Get in contact with our experts and we can tell you all you need to know, free of charge.



<figure class="wp-block-image"><a href="https://hubblehq.com/"><img data-attachment-id="13177" data-permalink="http://blog.hubblehq.com/?attachment_id=13177" data-orig-file="https://hubblehq.wordpress.com/wp-content/uploads/2019/09/find-new-office-now-e1580135890118.png" data-orig-size="900,99" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="find-new-office-now" data-image-description="" data-image-caption="" data-medium-file="https://hubblehq.wordpress.com/wp-content/uploads/2019/09/find-new-office-now-e1580135890118.png?w=300" data-large-file="https://hubblehq.wordpress.com/wp-content/uploads/2019/09/find-new-office-now-e1580135890118.png?w=900" src="https://atomic-temporary-87725556.wpcomstaging.com/wp-content/uploads/2019/09/find-new-office-now.png" alt="find-new-office-now" class="wp-image-13177" /></a></figure>

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