How can renting spaces be considered beneficial?

Buying а hоuse is nоt аlwаys а viаble орtiоn аnd renting оften mаkes more sense. While mоst оf the wоrking рrоfessiоnаls аnd students рrefer renting due tо lоwer раyоuts, there аre mаny mоre benefits. Here’s why it mаy be benefiсiаl fоr yоu аs well. Being а hоmeоwner is а lоng-term gоаl fоr mаny. Renting а hоme is оften рerсeived аs а temроrаry sоlutiоn аnd рeорle соnsider оwning а hоuse аs their рrimаry аim. Bоth buying аnd renting hаve their finаnсiаl аdvаntаges, but renting dоes аррeаr tо retаin аn edge. Like the stосk mаrket, reаl estаte аlsо сreаtes сyсliсаl bubbles, аnd if the hоusing mаrket is оverрriсed, it is benefiсiаl tо stаy оn rent.

Lоw mаintenаnсe соsts – А definite аdvаntаge renters hаve оver hоmeоwners is thаt they usuаlly dо nоt need tо раy аny mаintenаnсe соsts оr reраir bills. If there is а mаlfunсtiоn оr а breаkdоwn in the rented hоuse, it is the resроnsibility оf the hоmeоwner tо get it fixed. Whereаs, if yоu рurсhаse а рrорerty, араrt frоm reраying the hоme lоаn, yоu аre аlsо resроnsible fоr vаriоus оther exрenses suсh аs the uрkeeр аnd mаintenаnсe, раyment оf sосiety bills, рrорerty tаx аnd renоvаtiоn соsts. Hоwever, the tenаnts must mаke sure thаt the sаme is mentiоned in their leаse соntrасt tо аvоid аny соnfliсts lаter.

High mоbility – Renting а рrорerty аllоws mоre flexibility thаn оwning а hоuse. This is ideаl fоr рeорle whо саn fасe sudden сhаnges suсh аs jоb relосаtiоn. Renting requires nо lоng-term соmmitment frоm а tenаnt, аnd is the best орtiоn if yоu dо nоt hаve the intent tо stаy in оne рlасe fоr а lоng time. It is аlwаys eаsy tо vасаte а rented hоuse by giving а оne-mоnth nоtiсe.Inсоme tаx benefit – If yоu аre stаying оn rent, yоu саn сlаim а hоuse rent аllоwаnсe (HRА). The HRА is 40 рerсent оf the bаsiс sаlаry in tier-II аnd tier-III сities, аnd 50 рerсent оf the bаsiс раy in metrо сities. In а self-оссuрied рrорerty withоut а hоme lоаn, yоu will nоt get аny tаx, аnd thus the tаx оutflоw will be high. Besides this, interest оn hоme lоаns аlsо аdds tо inсоme tаx benefits.

Fixed rent аmоunt – Rent аmоunts аre fixed, аt leаst fоr the tenure оf the rent аgreement. While рrорerty оwners саn rаise the rent with а рriоr nоtiсe аfter 11 mоnths, the tenаnt саn budget, аs they knоw the аmоunt оf rent they аre required tо раy. Simultаneоusly, lоаns аnd the рrорerty tаx саn аlsо fluсtuаte, lаnding yоu in а рrоfitаble роsitiоn. Аfter sрending the fixed rent, а tenаnt mаy enjоy the аdditiоnаl mоney, whiсh they саn invest elsewhere.

Living with friends – Аnоther benefit оf renting is thаt it рrоvides орроrtunities tо live with friends. Living with а grоuр оf friends is nоt оnly рreferred by students but аlsо yоung рrоfessiоnаls whо shаre rentаl рrорerties with the аim оf minimising exрenses аnd mаximising sосiаl орроrtunities.

Аmenity ассess – Аnоther finаnсiаl benefit thаt renting саrries is the ассess tо аmenities thаt саn оtherwise be а huge exрense. Luxuries like а рооl, а gym оr sроrts соurts аre соmmоnly аvаilаble in mid-sсаle tо uр-sсаle residentiаl sосieties. If yоu аre residing in suсh аn араrtment, yоu dо nоt need tо раy аny аdditiоnаl сhаrges fоr using these аmenities.

Nо signifiсаnt finаnсiаl investment – Unlike рurсhаsing а рrорerty, renting аn араrtment needs nо signifiсаnt finаnсiаl investments. Thоugh renting а рlасe invоlves giving the рrорerty оwner а seсurity deроsit, this investment is signifiсаntly lоwer thаn whаt wоuld be required tо рurсhаse а hоuse. А соnsiderаble dоwn раyment is needed when buying а hоme with а hоme lоаn.

Deсreаsing рrорerty vаlue – Рrорerty рriсes оften fluсtuаte, signifiсаntly аffeсting hоmeоwners. The hоme vаlue determines the раyаble рrорerty tаxes аnd the аmоunt оf the mоrtgаge etс. In аn unstаble hоusing mаrket, the tenаnts аre nоt аdversely аffeсted.

Flexibility tо dоwnsize – By орting fоr renting, рeорle саrry the орtiоn tо dоwngrаde intо аn аffоrdаble living sрасe if they аre finding the сurrent соsts tоо high. Suсh аn event саn оnly tаke рlасe аt the end оf their leаse. If yоu аre а hоmeоwner, it is muсh mоre diffiсult tо breаk free оf аn exрensive hоuse beсаuse оf the exрenses invоlved with buying аnd selling а hоme.

Аs yоu саn see, there аre multiрle benefits оf tаking а рlасe оn rent. By renting а рlасe, yоu will be аble tо hаve а flexible аррrоасh in life аnd mаy аlsо shаre соsts by tаking rооmmаtes if yоu feel thаt yоu саnnоt finаnсiаlly hаndle а rented unit by yоurself. Nevertheless, this is а subjeсtive deсisiоn аnd yоu shоuld tаke enоugh time tо sрeаk with fаmily members аnd рrорerty brоkers befоre reасhing а deсisiоn in this regаrd.

Credits: Ram Sharma

October 6, 2021 0

What are the different types of common areas that can be used for renting?

Many studio space rentals in a residential setting are utilised and paid for by everyone who owns an apartment in that complex. Tenants in residential projects also utilise common areas. Common spaces include parking lots, elevators, lobby areas, and hallways. Apartment owners are frequently required to contribute to the upkeep of communal facilities through a co-operative organisation or a home-owners association. However, the society in which you buy or rent an apartment may choose who is responsible for common area maintenance. The carpet area, or the space where you lay the carpet, as well as the thickness of the walls and the common spaces in the development, are all included in the super built-up area of a flat. Common spaces, on the other hand, are not included in the built-up area. Many property purchasers are unaware that the super built-up area also includes common areas, for which they are paid. The charge collected from the outlets in the buildings is typically used to maintain common facilities in commercial projects, based on the amount of floor space each unit occupies.

The practise of comparing the performance of your items based on their performance and characteristics is known as product testing. It might be tough to choose the perfect place to attract your target audience. Spaces are available in shopping malls, workplaces, and even residential neighbourhoods. To market their brands, retail stores require various locations. If you’re a retailer that wants to set up temporary shops in several places. With that being said, there are various types of common areas that can be used for renting. Some of them are as follows.

1. Parking Lots

Exhibitions, branding, sales kiosks, and so much more may all be held in parking lots, no matter how big or little they are. Renting out parking spots in your society, business, institutions, or other locations gives you a whole new viewpoint on your empty parking. Kiosks and canopies may simply be put up in single parking spaces for a few hours, whether for brand promotion or a fund-raising activity. Rental parking spaces can be beneficial to both the renter and the lender/owner. Because they are continually on the go, pop-up stores require temporary parking. For this purpose, rented parking spots are ideal. A pop-up store can be set up in a society parking lot or a parking lot of an office building.

Health checkup camps for older persons or eye check camps for everyone might be held in parking spots at society and offices. Because such camps do not require a large amount of room, renting a parking space or a parking lot may be an excellent option. New cafés and eateries in town can hold sampling events in society or business building parking lots. Parking spaces ensure foot traffic and are just large enough for one or two stalls. Food tasting events are a fantastic fit for rented parking spots.

2. Atriums

Small-scale exhibits are an excellent method for groups, institutions, and office complexes to make use of common areas. Rent out the atriums, elevator areas, compounds, and other such places to supplement your revenue.A product demo is a promotional activity offered to targeted consumers in order to increase sales. Office atriums can assist you in reaching a broader audience and raising awareness. Increase the number of individuals who are aware of your goods in various areas. The audience in office atriums is diverse.

3. Gardens

Pottery plantation and botanical displays are both educational and imaginative ways to feel connected to nature. Such programmes are enjoyable and educational for both children and adults. You can hold open garden event space rentals. These shows may be best held in gardens. Improve your health and fitness while also allowing you to relax and de-stress from your hectic schedule. Connect with nature to create a relaxing atmosphere for your yoga practises. Gardens will add to your enjoyment and make it the ideal setting for you. Here you may find low-cost temporary rental venues for wellness programmes.

Common spaces in residential complexes, classrooms for rent, as well as business offices, may be a lucrative source of revenue. For their promotional efforts, brands might set up tiny kiosks or stalls in these places. With an office catering programme, you can create the ideal workplace benefit. Instead of cafeteria space for rent near me, choose from taco trucks, sandwich trucks, or the option of having a new food truck cater your workplace each week. Office cafés and even parks are frequently deserted despite high foot traffic. Food trucks are the finest way to have a professional chef and a kitchen right outside your office door. A fantastic fundraising is required for every worthwhile cause. Traditional fundraising for schools, sports teams, churches, and non-profits necessitates the availability of an ideal location. Malls will be an excellent venue for these activities.There are various short-term renting platforms that will help you out with common areas.

Credits: Manavi Sarang

October 5, 2021 0

How To Make Use Of Empty Computer Labs

A computer lab acts as the hub for teaching a whole bunch of students how to use a computer and various other skills, usually by a professional computer teacher. Along with taking classes, teachers can also use the computer lab for research or for creating technology-based projects. But what about all the hours when the computer lab is empty with lots of potential? There are plenty of ways to make use of computer labs that are not in use. This is how you can also make ways for additional income by putting classrooms for rent. After school and college hours, computer labs are mostly empty and remain without any use. It’s important to understand the full potential of owned spaces and realize the profit they can bring you by utilizing them effectively and efficiently. Here are 5 ways you can make use of your computer labs when it’s not in use.

1. Conduct Online Exams

Computer labs are the best spaces to conduct online exams with plenty of students appearing. This way, the space, as well as the computers, are being utilized in the best way possible. It also gives you the authority to supervise each student and help them correctly. Online exams need spaces like computer labs to be conducted properly. These are held for a few hours and so renting out computer labs temporarily will be the ideal way to go. Computer labs are also designed in a way that works best for online exams. Each computer will have well-functioning software as well as an internet connection that are essential for online exams. Instead of looking for classrooms for rent, you can actually use computer labs to conduct the exams.

2. Organize Meetings

Since computer labs are empty with a large seating arrangement, it can be used as an alternative for meetings, conferences and seminars. In case all the meeting rooms are occupied and you have run out of options, making use of a computer lab is your best option. A computer lab has more than enough space to accommodate a team. You can also make use of computers to present data and statistics for your meeting. Any kind of visual presentation is possible in a computer lab which is a plus point for your meetings and seminars. You can display your prepared presentation on a big screen or even It is also a great place for group discussions and brainstorming ideas.

3. Teach Your Classes

Tutors need a quiet and disturbance-free place to conduct a proper class. A computer can be the perfect tuition space for your computer classes. In case there is a shortage of classes, or you have to take an emergency class, computer labs can come in handy. A good alternative for classrooms on rent. Using the space for conducting classes is also a great way to earn additional income. Schools remain empty post-evening and also during the weekends. Using this time for extra classes and teaching sessions can be very helpful to both teachers and students. School computer labs will be the perfect locations for teachers searching for a classroom environment. It is very easy to find such spaces as many are already available for rent.

4. Hold Training Programs

Training programs of new techniques or new software require a large number of computers and a whole day. Time, space and a good number of computers are essential for a successful training program. Everyone needs to be in a quiet environment and together in one room. A computer lab is a peaceful and disturbance-free zone where tutors can effectively carry out training programs. Computer classrooms for rent are a good option for these programs. This is not possible in offices as they have other employees too. In offices and other spaces, there is constant rush and a lot of disturbance too. You can rent out computer labs and set up training programs easily. With the use of well-functioning computers and space to accommodate a large number of people, your training program is bound to go well.

5. Conduct Workshops

A computer lab is an empty and peaceful space with a lot of resources to make use of. You can also use these labs as a space to conduct various types of workshops. You can hold promotional and educational workshops according to what fits the occasion. An educational workshop could be teaching the underprivileged sections of society about the workings of a computer. This can be effectively conducted in computer labs. Social service activities can be conducted with the good purpose of making India more digital.

There are plenty of ways to make use of empty computer labs and these were just some of them. Computer labs can be a great source of income as well as a life-saving space during emergencies. It’s important to understand and be aware of how you can list out your vacant owned spaces and make money by putting them to good use. Empty classrooms for rent are available today. You can even learn how to put your classroom on rent or rent one out.

Credits: Manavi Sarang

September 13, 2021 0

What changes will coworkers expect from co-working spaces after lockdown?

The coronavirus pandemic has shaken the world and now all of the colleagues who once worked side by side in a vibrant and successful work atmosphere are working from home. For many, coworking is synonymous with a friendly work environment where everyone is a part of a group, and coworkers now confined to their homes desperately lack this group component of coworking.

Although work from home has its own advantages, coworking will continue to expand in the long run as a multi-million – dollar industry that supports start-ups and small business growth.

Of course, there will be a few changes or rather changes in coworking spaces, as expected by companies that are already on the coworking crowd, such as:

Health Screening for new Workspace Joiners

For most companies, like versatile and shared office space providers, the COVID-19 pandemic is sure to be a big hit. As with many other sectors, coworking spaces are unlikely to see clientele growth for the near future.

That being said, the pandemic will be nothing more than a hiccup to the coworking movement ‘s rapid growth and popularity. Until coworking spaces start brimming with new inquiries from small business owners and entrepreneurs who want to join the coworking bandwagon, it won’tbe too long.

After the pandemic subsides, current businesses that will start operating in their coworking room will want new joiners to get proper health screening. So, coworking space providers need to develop a standardized health screening procedure to ensure the wellbeing of all clients.

A Stronger Than Ever Before Focus on Work Environment Hygiene
It almost goes without saying that in terms of maintaining workplace hygiene and sanitation, the coworking spaces are expected to level up.

That is, the office spaces will be littered with sanitizers and tissue boxes. Restrooms are going to be cleaner than ever. Sanitation related coworking policies will need to regularly be revised and new posters will be created to remind coworkers to regularly wash their hands.

Essentially, coworking spaces should become better that will help avoid the spread of all infectious diseases, not just coronavirus.

Regular Free Health Checkups for Coworkers

Most well-established coworking firms go above and beyond establishing a community-like atmosphere in the workplace by regularly organizing networking events, such as breakfast meetups, film screenings, and gaming tournaments where all coworkers can participate.

And from time to time, some of these coworking providers also host free health checkups for all coworkers. Till the start of 2020, free health checkups would’ve been no more than a nice bonus to attract new clients for coworking providers.

But now companies who have signed up for shared space will also expect the coworking service to hold health check-ups to ensure that anyone who uses the workspace is safe. Startups considering moving to coworking spaces can even inquire about certain advantages.

Related Post: The future of Co-working looks bright

Extension of Coworking Benefits to Remote Workers

There’s no relief from the fact that the remote working phenomenon is very much on the rise alongside coworking. The coronavirus pandemic will further the remote working trend and it could be expected that coworking spaces will expand the in-house facilities they provide to accommodate remote employees too.

Such virtual office advantages can include setting up a WiFi network for work, a free software subscription, or a nearby gym membership for remote startup workers who mainly operate from the coworking space. However, only time can tell whether coworking spaces are required to expand benefits and facilities to accommodate remote work and whether they are able to do so.

Change in the Office Layout

In addition, when businesses resume operating from coworking spaces, they should expect a guideline on the social distance to be in place within the workplace. This will consist of maintaining at all times a minimum physical distance between colleagues with the aid of a changed office layout and more scattered workstations.

This may also require a strategy that encourages businesses to work in shifts in order to ensure that the coworking room is not brimming with people in close touch.

Related Post: How will Life be After Lockdown?

Final Thoughts

It seems like we’re still very far away from the novel coronavirus’ full resolution but in the long run, given the various advantages of operating in a shared office, coworking as an industry would only boom.
Ultimately, if anything, the pandemic would further boost the coworking spaces and make them safer.

May 19, 2020 0

Office rentals set to rise faster in Bangalore

Even as the Indian real estate sector continues to experience a downturn, cities such as Bengaluru and Mumbai are expected to attract healthy office rentals in 2020, mainly backed by rapid IT industry growth, a study said.

Beating not only Delhi and Mumbai but also Singapore and Hong Kong, according to a survey, the rental office market in Bengaluru is now the highest performing one in the Asia Pacific. While rentals in Bengaluru are now lower than BKC from Mumbai and Connaught Place from Delhi, Bengaluru posted the highest 17.6 per cent rental rise.

Due to the availability of the right talent pool and new office assets at comparatively low rents, multinationals continued to expand robustly, especially in Bengaluru. When demand for office space is expected to increase in 2020, we expect the trend to continue for these markets.

In the first half of 2019, the IT industry accounted for 35% of the total volume of transactions across the top eight cities, most evident in Bengaluru, which recorded a 14% rental increase in January-June (H1) 2019.

Grade-A office rents across the Asia-Pacific region are expected to fall by as much as 3 per cent in 2020, compared to a 0.6 per cent increase in the first nine months of 2019, as occupier demand continues to weaken.

Bengaluru’s central business district (CBD) was the best-performing Asia Pacific sector in July-September (Q3) 2019 with 17.6 per cent rental growth, the report said.

Connaught Place’s CBDs in NCR and Bandra Kurla Complex in Mumbai were the 7th and 11th fastest-growing prime office markets in the Asia-Pacific region, with 4.4% and 2% year-on-year rental growth respectively, it said in Q3 2019.

Myrsa is an online platform where you can find commercial spaces for rent on a temporary basis.

December 26, 2019 0

The future of Co-working looks bright

The coworking juggernaut in India has had unprecedented success over the past few years. This rapid growth has been powered by the groundbreaking change to a more open, affordable and accessible coworking space in the traditional Indian workspace. Coworking itself had transacted around 2 million square feet of commercial real estate in the first half of 2019; well ahead of the 1.8 million square ft in 2018.

Through 2021, the industry is expected to grow 3X, which will lead to huge opportunities for the country’s coworking sector. Coworking has now built itself as a fundamental part of the CRE leasing operation and as an autonomous full-fledged market, offering traditional office spaces a tough competition.

However, the rising entrepreneurial spirit, which also flows into Tier-II cities, is accelerating this tremendous development. It is projected that the Tier II markets will rise to 8.5 mn by 2020. Therefore, given the strong demand and momentum, it has been able to gain, it wouldn’t be an exaggeration to suggest that the best is yet to come for a segment that is still in the nascent stages of development.

Over the years, coworking has witnessed many new trends and innovative activities fundamentally cooperative and versatile by nature like coworking spaces for rent. Fierce competition and ever-increasing demand have driven many leading players to put on their brainstorming hats to ensure continued market dominance and maintain value-added benefits for consumers. While some clear developments have been discovered over the past few years that have redefined the segment’s future, we also expect the momentum to continue strongly in 2019.

Here are the top seven trends that we foresee will become the game-changes in the industry.

Coworking players handholding developers in interactions management

The business relationship between a developer and a provider of coworking space is now no longer confined to leasing the commercial space. Coworking spaces are not only going beyond setting up workspaces and collaborating with developers to allow them to achieve higher returns, but they are also handholding developers by marketing and selling other building floors to customers on traditional lease.

Related Post: How to Choose a Co-Working Space Wisely?

Coworking players are curating unique experiences and commitments to create tenants by providing state-of-the-art facilities such as gyms, cafes, creches and managing the entire building environment by providing occupants with partnerships, activities and community emphasis.

Coworking players trying to co-live

Expansion and market diversity is the secret to any company’s sustained growth. While coworking space providers have successfully bridged the gap in Indian office spaces between supply and demand, this has now also spread to the residential real estate market where millennials are now becoming accustomed to the idea of co-living.

This is a perfect setting for engaging millennials when overcoming the conventional lodging issue with all-inclusive services and community events. While this is still untested waters, in 2019 we look forward to seeing more use cases and measuring their success.

Deeper technology integration

Despite wearable technology and AI gradually taking over coworking spaces and turning them into autonomous workspaces, the conventional desk is likely to be non-existent over the next three years. Intelligent access, intelligent meeting rooms and smart receptions have already been explored to allow cloud-based access, facial recognition and real-time security monitoring.

Digital assistants, AI-powered ambience, temperature control, and partnerships focused on the touch screen improve user experience. The laptop and smartphone will become obsolete as voice-activated systems, wearable technology including wearable glasses, embedded sensors, and Internet of Things (IoT)-connected wrist devices will take center stage and linking work professionals with fixed desks will become a past.

No flight, video technology and speed of networking would ensure real presence. In reality, artificial intelligence can confirm the shape, size and use of furniture as cumulative data per client.

Rise of ‘work near home’ programmes

The number of people who prefer to live near their workplaces or vice versa is on the rise and “talk to work” is a phenomenon that is picking up rapidly in metro cities as it saves valuable man-hours instead of losing time to traffic congestion for hours while commuting to work.

Because of multiple locations, both inter-city and intra-city, coworking spaces are the option for reducing traffic hours and providing both personal and business benefits. Organizations have been considering the idea of allowing employees to “work from home” to provide more employee-friendly policies.

Due to intrinsic obstacles such as a, however. Home disruptions b. Right network unavailability (high-speed internet, printer, desk space) c. There is a significant loss of efficiency due to a lack of social interactions/peer to peer commitments. It causes more and more companies to consider “work close to home”–enabling employees to work remotely out of shared spaces while accessing efficient office infrastructure.

Adoption of flexible and mobile solutions

The number of transactions for “just-in-time” use of meeting rooms and flexibility passes has increased three times over the past two years and is rising at a rate of more than 12 per cent per month for most games.

Today, companies are spreading across the country in various geographies and serving customers. As a consequence, it is not always realistic to plan and allow the workforce to work from a few central locations. The current workforce has to be spread geographically and on-the-move according to the job’s demands.

Employees of Millennials and Gen Z are searching for versatility, mobility, teamwork and opportunities to help them work in real-time and untethered. Shared workspaces allow flexibility by providing solutions such as national passes, roaming and bulk meeting room hours to work out from any place at any time, without any reservation restrictions and hassle. Digital offices support small town-based businesses looking to set up a business address or have a presence as their central business districts in larger towns/metros.

Holistic enterprise solutions

Shared workspace providers are working together with running the co-working company to create and manage separate offices for companies. The process starts right from finding an appropriate space for constructing, customizing and providing complete back-end support for office space software and operations. This is a trouble-free way for a company to outsource their “own” office space to plan, build and manage, enabling them to focus on running their business rather than their office.

Platform for collab

In addition to providing real estate options and trouble-free leadership, coworking spaces also provide an ideal platform for participants to exploit business opportunities. The connections are smooth and alliance plentiful with so many different businesses sitting next to each other. Collaboration also often takes place between the coworking space provider and the consumers sitting inside by retailing and selling products and services. Customers receive real-time feedback from the larger community and a chance to test the market with varied demographics.

The change of the workplace has started in earnest and will see some big changes in the next 5-7 years as the lifestyles of people develop, technology advances are taking place at a fast pace, office commute times are growing, and safety and well-being are at the center of attention. This will place the office worker at the forefront of all options for office space.

Finding office spaces on rent for just a few hours has always been a tedious task. Myrsa will help you make this process easier. Find office spaces on rent on a temporary basis on Myrsa.

You can even rent your empty office spaces for a few hours on Myrsa.

November 19, 2019 0

What’s Better? Coworking space vs Serviced space.

With the growth of businesses and entrepreneurs in our country, the need for flexible office spaces is also rising high. These concepts are very popular among small startups but now, larger corporations are stepping towards the concept of shared office space to provide their employees with a better and comfortable environment. There is a potential for tremendous savings in the operational costs with shared office spaces. Two of the most popular shared office space concepts are co-working space and serviced office.

1. Basic Definition

To understand both concepts of shared office spaces we will have to start with the basic definition first.

Coworking spaces refer to an office space that can be used by freelancers, entrepreneurs, businessmen or a team who are willing to work in a regular office space rather than in isolation of their home office. This kind of workspace is very flexible and it offers various types of facilities and services which are according to the needs of the business. Some websites that provide you with coworking spaces are We work, Awfis and also Myrsa.

Serviced office are those building in which each company has an individual floor or an individual office to themselves on rent. These buildings come under the regulations of a facility management company. These offices are mainly known are business centres or executive suites. In India, there are many companies that provide serviced office spaces.

2. Privacy

As co-working spaces are something that is a space inside one office, maintaining privacy becomes a bit of a concern. This is because there will e people around discussing their projects and walking around in the space. Everyone has a common space but if you book a space like a cabin to yourself then it will be much better. People who work in coworking spaces should respect and maintain decorum for everyone to work efficiently.

In a serviced office space, each company has the liberty to work inside their own respective offices. Businesses are able to maintain their own rules and regulation inside their offices and every startup or company can work peacefully in their own environment. Thus the privacy of each company can be maintained well.

3. Community Events

Coworking spaces organise events usually to keep the employees motivated from time to time. These events help in networking and also relaxing from work for a short amount of time. Entrepreneurs and freelancers get to discuss new ideas and this can help them a lot for the creation of bigger ideas and collaborations.

Community events are not held so much in serviced offices as they have their own individual workspaces. This reduces the scope of interaction with other companies and other organisations. They have their internal events in their offices from time to time and every company can differ in such events.

4. Agreements

Agreements in coworking spaces are on a temporary basis. They offer a lot of flexibility to freelancers, entrepreneurs and companies who rent out the spaces. It can be according to the requirements like the number of people and how long will they require it for. A coworking space can be booked for a few hours, a few days and even for a week. Usually, it is rented for shorter periods of time.

Companies that are going for serviced office need to pay rent on a monthly basis. Unlike coworking workspace, these are leased for longer periods of time and for companies having a larger group of people. The lease period may start from a month and may go up to a few years. The rent amount of this office is also much higher than that of coworking spaces.

5. Extra Amenities and Extra Space

In a coworking space, entrepreneurs have additional services like a game room or a resting room and this will include inside the particular rent amount. There are usually extra spaces available for entrepreneurs they can make use of the additional features that are there in the office. This can help reduce stress and can provide a comfortable environment for the business owner.

In a serviced office as the company has its own space they use it for the accommodation of every employee. They usually do not have extra rooms available for the employees. Every office has the same layout in these business centres and it depends on the individual office how they utilise it and how they would plan the interior. However, some services are that they have managed reception and maintenance facilities and security services available.

Now that you are well aware of both of these spaces. Decide on what suits you the best. Renting out spaces on a temporary basis and searching for spaces in a different location can become a tiresome task. Myrsa helps you with this. It is an online platform for short term renting of office spaces. You can decide the time and space required and search through various options and start working in your own office.

August 1, 2019 0

How to Choose a Co-Working Space Wisely?

Firstly what is Coworking? It is a business service provision model that involves individuals working independently but in a shared office. Mostly user of a co-working space is a self-employed or a freelancer. It is also beneficial for businesses who want to provide more equipment and space for their employees which they can’t afford otherwise.

Larger enterprises sometimes also opt co-working to provide facilities and space for larger number employees they may higher than normal number hired. In cases like this, one must maintain a number of people hired as their services are shared. Every owner of space provides a work environment, amenities and office equipment found in a typical office.

These are some typical features of coworking facilities include:

Shared Workspaces.
24/7 access.
Rental conference and/or board rooms.
Internet services
Communal printer/copier/fax.
Shared kitchens, bathrooms, and lounges.

Earlier in days if you were an entrepreneur, freelancer, the only choices in front of you for setting up a business were either out of the home of course or any temporary spaces on rent. Thankfully now we can witness the things changing, as the risk-taking ability of entrepreneurs has increased and changed drastically. Funding for a good idea is now possible with figuring out a solution for basic problems that have become so normal.

Here are some essential points you need to consider before taking up a co-working space :

Ask For Trial Period :

Most of the coworking spaces currently offer potential customers to experience the space for a day or two. Therefore, asking for trial is very beneficial and lets you experience whether space is comfortable to your working style. A trial will always make you understand the space better with the vision of how the working will be executed.

Considering the office equipment and amenities, surroundings matter a lot while taking up co-working space, noise levels around must be considered as there should not be any disturbance to your working style due to others. There should not be any disturbance due to a fully occupied space. Also, the availability of quite rooms, conference meeting rooms for discussions. Thus, getting a preview before signing up for the co-working space is crucial.

Know the cost :

The most important point to be taken into consideration is to know the cost. This is a significant aspect when determining the best and ideal co-working space. Different daily, weekly or monthly plans of availability, help to identify the one which fits in your budget.

Some spaces may charge extra for facilities like the dedicated desk, stationery, photocopy and print outs, WiFi, over a certain limit. But basic facilities like water purifies, bathrooms, electricity should not be charged extra as these facilities are which are primary. It is also advisable to know its membership cancellation policy.

Identify the amenities:

As mentioned earlier most co-working spaces provide basic office amenities like high-speed WiFi, desks, chairs, meeting rooms, coffee machines, water dispensers, washrooms, etc. However, it is always good to be informed about the upper limit of the user or a certain limit.

In some shared spaces they provide fixed working hours, therefore it is important to check whether your working hours align with the facilities and flexibility it can offer you. It is important to clear all the ‘ifs’ and ‘buts’ before confirming the deal which will help you in the future. Before taking the final decision, be careful and think twice about the services that you will be using and the money you are going to end up spending.

Be cognizant of the commute :

Nothing is more annoying and tiring than being stuck in traffic especially while reaching your office for work. As most of the coworking spaces are located at prime locations, commercial areas, cities, being aware of the time spent traveling during both peak and off-peak hours is crucial.

Not only you but your employees are also going to face daily delay problems due to this which may affect your company working style. Look after and inquire with the coworking space about other locations around the same city or location that you and your employees might be able to use save time. Therefore, make sure that the co-working space you select consumes time, resulting in a higher efficient workday.

Relates Post: Key Factors to consider while considering commercial space for rent.

The other occupants :

The concept of coworking itself is that you will be sharing and using space with other people so, before the deal, it is necessary to know the other occupants. The people you are going to share the space must go hand in hand with yours.

For example, if your company is a real estate or technical company which needs quite a working environment cannot co-work with a musical company or an entertainment production company which has a loud environment. Therefore, getting to know your occupants is extremely necessary.

Myrsa helps businesses, service providers, entrepreneurs, retailers, brands, event managers or start-ups to find the temporary space to co-work which they need to test, sell, serve and grow.

June 18, 2019 0

Category: co working space