Flexible workspaces, also known as flex space, are best defined in contrast to their traditional, more rigid counterparts.

Traditionally, office spaces were leased for multiple years, regardless of their size. Customers would lease an empty office and manage it themselves—from furniture and office staff to coffee, cleaning, and wifi.

Now, our customers find this model suitable for larger spaces, but not for smaller ones. For offices that typically accommodate less than 25-30 people, they prefer flexible terms and professional operators. They more want to consume it as a service.

This leads us to the concept of flexible workspaces. The main differences include:

• Shorter commitments to the landlord/operator, measured in months rather than years
• Professional operator of the space

Examples

Flex space comes in many shapes and forms, here are a few examples of what we consider to be flex space.

• A room for two, reserved for 30 minutes
• A room for 10, reserved for a day—an offsite
• A venue for 150, reserved for three days—a conference
• A personal monthly membership for one person
• A private office in a coworking space for 10 people, subscribed to quarterly
• A turnkey private floor for 90 people, subscribed to biannually

Finally

Traditional office leases still hold a significant place in today's market. They remain a suitable choice for larger headquarters and hubs because they offer customization to meet specific needs.

However, converting the majority of an office portfolio into flexible, serviced options is a sensible move for most companies.

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