The professional world is a vastly different place than it was five years ago. Remote work has been on the rise, employee preferences are changing, and it’s tough for businesses to plan for next year, let alone three years from now. As a result, month-to-month office rentals are looking increasingly appealing to modern businesses.
Coworking spaces have long been pioneering the concept of month-to-month office rentals and, in this article, we’ll explain everything you need to know to decide whether this is the right option for your company.
Traditional Leases vs. Month-to-Month Office Rentals
Traditionally, if you wanted an office for your team, you had one option: sign a long-term lease. But there are a few problems with that approach:
- Long-term leases don’t account for the pace of change in today’s business environment
- With these leases, you often had to tailor your needs to fit with the available office stock rather than tailoring your office to meet your needs
- If you didn’t have a big enough budget to afford a traditional lease, you were out of luck
Today, operational agility is vital to business success—especially for SMBs.
Luckily, there are more options than ever before when it comes to month-to-month office rentals. And that’s where coworking spaces come into play.
They offer:
- Shorter and more flexible rental terms
- More flexibility in the size of your suite
- All of the amenities of a traditional office with the costs shared between multiple tenants
- A bustling community of businesses under one roof
And, contrary to common misconception, coworking spaces aren’t just for solopreneurs and start-ups.
Workspace for Every Need: The Types of Businesses That Can Benefit from Month-to-Month Office Rentals
Any business or professional who desires flexibility can benefit from a month-to-month office rental. However, it typically attracts the following:
- Remote Employees: Companies that want to provide their team with the opportunity to get out of their home office or focus better in a new environment benefit from flexible month-to-month office rentals.
- Small Businesses and Start-Ups: Month-to-month office rentals are flexible, allowing small businesses and startups to scale up quickly when they need more space. They’re not locked into a contract but can change their space with the demands of their business.
- Freelancers and Solopreneurs: Coworking spaces offering month-to-month office rentals also have professional communities that benefit freelancers and solopreneurs. Organic and organized networking opportunities help these entrepreneurs launch and grow their businesses and provide much-needed socialization and community.
- Enterprise Organizations: Coworking spaces make it easier for enterprise organizations to build up their operations without the large initial investment of traditional office space. Hubs at coworking spaces across the state or country allow teams to gather together, offer space for remote employees to work, and build a local presence in a new area.
- Satellite Teams: While accustomed to working remotely, dispersed teams benefit from coworking spaces. Leaders might offer memberships to employees who want to work outside their homes or use bookable meeting rooms to gather for periodic in-person meetings.
Unlocking Freedom with Month-to-Month Office Rental Options
Each flexible or coworking space operator will have different options and terms available. At Launch Workplaces, for example, we offer the following:
- Coworking Space: Shared coworking spaces are available on month-to-month leases and are ideal for solo professionals who don’t need a dedicated, private space.
- Dedicated Desk: Solo professionals who want their own space may opt for a dedicated desk, which falls under our month-to-month coworking space memberships.
Flexible monthly contracts make it easy to move between these options, scaling up or down as your business needs change, and you also get the opportunity to grow into a private office or team suite as your organization takes flight.
4 Reasons to Choose a Month-to-Month Lease
Opting for a flexible workspace that offers month-to-month leases has four key benefits to businesses and professionals:
1. Flexible Contracts
Flexibility, flexibility, flexibility—the most desired benefit of month-to-month office rentals. You can receive all the benefits of a professional workspace without a long-term commitment.
Should your needs change, your coworking space operator can work with you to ensure you have what you need. It’s easy to scale up or down on a month-to-month lease, or opt in or out altogether as your priorities change.
2. Cost-Effectiveness
Because month-to-month office rentals are so flexible, they’re also cost-effective. You’re only paying for the space you need when you need it.
We previously broke down the cost of coworking space—check out the full guide to see how it compares to traditional office spaces.
3. Amenities and Services
We all know that a great work environment has more to do than just the space itself. Amenities and services can round out the experience and offer more “bang for your buck.”
At Launch Workplaces, we’re proud of our all-inclusive memberships that offer services and amenities like:
- Access to printing, copying, and scanning
- Bookable meeting rooms and conference rooms
- Virtual office services
- Flexible areas and common spaces like lounges, kitchen, and private phone booths
- Complimentary coffee and tea
- On-site staff
4. Professional Community
Just as amenities and services can improve a workspace, so can a professional community. Coworking spaces are not just about comfortable desks and chairs—they’re about people.
Whether it’s organic connections over a coffee in the lounge or joining an organized event, there are many ways to connect with other like-minded professionals.
A month-to-month office lease in a coworking space offers the benefits of a traditional office space without the rigid and expensive contract. For this reason, it’s an optimal solution for remote and professional businesses seeking flexibility and efficiency in 2024.
So, what are you waiting for? Contact us today to book a tour of your local Launch Workplaces to see what we’re all about.
