People who rent office space in unserviced locations such as leaseholds are often weighed down by extra financial burdens that come in the form of business rates and service charges. It’s not necessarily the money that’s the issue: it’s the hours of time wasted on needless admin tasks – time that could be spent running the business. Perhaps the most appealing thing about renting a workspace in a coworking or serviced property is the fact that all costs are neatly rolled into one, making it way more convenient for the occupier.
So what’s included?
It varies depending on the provider, but most coworking operaters include at least four of the features below in their membership programmes. Memberships can be monthly rolling, or paid up to 12 months in advance. Prices range from around £150 outside of London and other major cities to around £600 in the capital. That said, cheaper options can be found in London and often it depends on what’s included in the package.
1. Deskspace rental
The main thing the price of a membership includes is the cost of a deskspace (or multiple desk spaces if you’re a team). At this point, it’s useful to distinguish between the different types of deskspace available in a coworking space.
Coworking desks or ‘hotdesks’
This gives you access to a desk in a shared area. Depending on how busy the space is, you may be expected to use a different desk each time. This is the best option for freelancers who want to save money or those who only need a desk on a part-time basis.
Dedicated means ‘fixed’ – this option gives you access to a permanent desk in a coworking area – sometimes along with your own storage space too. This option is perfect for people who want consistent use of space.
Desks in a private office
Many centres that brand themselves as ‘coworking’ spaces actually contain a mix of shared office space and private offices. You can rent a private office and still enjoy the other perks a coworking space has to offer, such as sociable breakout areas and access to events.
2. Business rates
The business rates debacle of 2017 left many SMEs with a feeling of financial unease. In short, many businesses who lease an office space could see the amount they pay for business rates increase substantially in April 2018. Never fear: coworking memberships cover the cost of financial extras like business rates.
Telephones, internet, cleaning, utilities, tea & coffee, reception, a team of community and building managers, access to a gym…are just a few of the services (and perks) included in a coworking membership.
When it comes to office refreshments, standards are high in coworking spaces.
4. Other members
For many, the best thing about a coworking space is the people who inhabit it on a daily basis, those who give it an ‘atmosphere’. Working in a shared environment provides plenty of opportunities to collaborate, exchange skills and gain more contacts the organic way.
Coworking spaces are two thirds work, one third play. As such, you’ll find a range of fun and informative events scheduled each week, enabling you to enjoy the space, learn about different industries and acquire more interest in your business. Check our events page for the latest updates on what’s going on.
We’re adding loads of coworking spaces to our website every month. To find out which coworking membership and location is best for you, contact our knowledgeable team today.