Renting an office in Singapore is usually a 1 to 3 years commitment. For larger offices (for shipping,banking etc), lease can be in excess of 5 years due to the high setup fees for renovations, interior design and furnishing incurred upfront.
If you are a smaller setup (with less than 10 users), opting for a serviced office can be a more viable and economical choice due to the following reasons:
- No office furniture setup fees. Furniture are usually provided by the serviced office provider
- No renovation fees. Serviced offices are ready to move in – fully furnished. Just bring your computers and yourself and you are ready to go.
- No long term commitment. Some serviced office leases can be as short as 1 month (even 2 weeks) if you are mobile or if you are a foreigner looking to work for a very short period of time
As such, the economic benefits of using serviced office rental for short term or small office setup for office rental in Singapore are really obvious.