29 Jan How Co-Working Space (Shared Office) differ from a Traditional Office — Part 2
In continuation to my previous post I am publishing the Part 2 of how a Co-Working Space (Shared Office) differ from a Traditional Office space. In case you are planning to start a “Shared Office” you may use these articles as a reference guide to clarify yours’ or your friends’ or clients’ doubts 🙂
This article explains how the lease agreement executed between the landlord & the tenant in case of a Traditional Office differs from the “agreement” executed between the co-working operator & the tenant (shared office / co-working space).
Leasing Terms of Co-Working Space vs. Traditional Office
Leasing a traditional office space not only involves huge upfront cost but also commitment of at least 3 years to the property. Whether you are utilising a portion of your office space or full space you have to pay the entire rent irrespective of your usage. However, co-working spaces involve shorter lease, as low as 1 hour. It offers you the opportunity to scale up or scale down your real estate requirement based on your business growth.
In today’s extremely dynamic and unpredictable business environment it makes immense business sense for individuals as well as corporates to operate out of shared office space such as ClayWorks and keep their real estate expenses to minimal & focus on core business areas.
PS: The header image is Central Courtyard of ClayWorks’ JP Nagar Business Centre — an art gallery converted into a business centre.