Small office rentals have been of outstanding benefit to the global startup scene. When companies start, they cannot afford large offices so instead, they tend to rent small spaces in big offices or rent a small office exclusively. Both the company renting the office space and the owner of the establishment can benefit. The owner can think of it as a business. Instead of renting the entire office as one unit, they can charge a little bit extra and rent out small spaces to a group of small companies. The companies are a guaranteed benefactor since otherwise; they will struggle to find a home base. Since the number of startups started to increase, large real estate companies started to specialize in renting office spaces for small businesses. This real estate trend is growing worldwide, and not only in Singapore. Nowadays, serviced office represents the main headquarters for hundreds of startups and the number is expected to increase gradually in the coming years. Despite the fluidity of the real estate market, few entrepreneurs struggle to find the right office space for their business.
The convenience of renting a service office in Singapore
- Since most companies who rent out office spaces are real estate ones, advertisements for their properties can usually be found in newspapers or online real estate rental websites.
- Renting an office space means less cost in more than one way. Business owners don’t have to bother keeping track of their monthly bills or other issues that regular tenants usually worry about it.
- The office space rental procedures are just as easy as that of a regular office. All it takes is agreeing to the monthly cost, writing down the agreement with the help of a lawyer, stamping it by the designated governmental body, and everything is settled.
- Sharing an office space with other small businesses creates an outstanding work environment and often gives some businesses an advantage as well. Whenever a client of neighboring business visits, he is automatically exposed to the services of the other businesses sharing the office.