With rising costs of rent in the Bay Area, many people are considering the benefits of renting a co-working space. It’s a smart move for businesses that don’t need or want a long-term lease, but still want a professional office to conduct business.
- What is a co-working space?
Are you unsure about what exactly a co-working space is? A co-working space is an office space where people share resources. Within the office, there can be a few different businesses that share one office and its supplies, and sometimes, its people.
- What do they cost?
The Bay Area is a big place, and depending on where you rent, prices can vary widely. If you rent in downtown San Francisco, for example, you’re likely to pay much higher prices than if you rent in Dublin.
At 580 Executive Center, we offer rates as low as $449 a month for a dedicated desk in a co-working space.
- What’s included
What a co-working space provides depends on the office. Most will provide you: desk space; cabinet space; a fax machine, printer, and phone; a meeting room or two, and maybe even coffee or other refreshments. At the very least, you should expect high-speed internet and the ability to use a team room for meetings.
- How you save money
A major selling point for co-working spaces is the ability to share rent. Since we all know how horrible rent prices are these days, sharing an office is a no-brainer when it comes to saving money in rent.
- Are there cons?
Of course, there are cons to co-working space, especially when it comes to your bank account. One possible con would be that the office is too far away, and requires a long commute. If you’re spending all your time in traffic to get to your office, what’s the point? You’re racking up a huge gas bill, as well as increased the wear and tear on your car.
Another con could be privacy. Yes, your personal data is secure when you use a co-working space, but if you’re someone who appreciates their own space while working, a shared space may not be for you.
One last con would be a lack of amenities. If the space you rent doesn’t offer private rooms or a place where you can hold a private phone call, you may want to think twice. If it’s a matter of price, the more amenities you can get for less money is the best deal.
When it comes to co-working spaces, we believe that the pros outweigh the cons as far as cost goes. While the average cost for a space varies, a co-working space is an incredible value for anyone looking to save some money on rent.