Helpful Guides

Flexible Office Solutions – The Office Time Share

By wizu | 23 December 2021

Most of us are familiar with the concept of a timeshare vacation home; however, what about a timeshare flexible office space? This may be an entirely new concept for your business to consider. But what is a timeshare office?

We’ll explain what a flexible timeshare office is all about and share some of the pros and cons of this type of flexible office space.

 

What is a Timeshare Flexible Office Space?

A timeshare office is one that is vastly different from the traditional office concept. The idea with a timeshare office is that different businesses use the same office at the same time. How does this work? Let’s say you are one of three companies using the same timeshare office space. Each of you (the businesses) uses the space on designated days and times. That’s how simple the concept really is!

For example, you are company A, timesharing a workspace with company B and company C. Your time to use the space may be on Wednesdays and Fridays. Company A may use the office space on Monday and Tuesday, while company C uses the space on Thursdays. In this way, the workweek is divided into three, with each company agreeing only to use the timeshare office space on their designated days.

In this case, the cost of the flexible office space is usually divided by each of the companies using the space. The timeshare flexible office space is much different from a traditional office. For one thing, the workspace is flexible, which means it probably comes with a flexible lease, too.

With a traditional office, one company occupies and uses the premises for the length of their lease. Traditional workspaces usually come with a long-term lease, which carries penalties if broken early. In addition, the company must solely pay for the rent, utilities, maintenance, cleaning, office furniture & equipment, network & Internet services, and much more. A traditional office can be exorbitantly expensive, especially for small and medium companies.

 

Is the Timeshare Office Right for All Businesses?

Here, we have to answer, ‘No’. A timeshare office space is not suitable for every business. It really comes down to the type of work you do and how often you need to be in the office.
Companies that must work on desktops, for instance, usually won’t do well with this type of flexible office space. However, those businesses that depend mostly on mobile devices usually gain many benefits from a timeshare office.

 

Pros of Timeshare Office Spaces

Here’s a list of pros related to timeshare office spaces:

Flexibility

Timeshare office spaces are all about flexibility for the business and its employees. While many employees are happy working remotely, this is not the right solution for everyone. For employees that work better at the office and enjoy being with colleagues, the timeshare office space offers more flexibility for their schedule.

When employees want to come work at the office, they can do so. They have the chance to work with some of their colleagues on any given day. The result is these employees won’t have to continuously deal with feeling isolated and/or not having a conducive work environment at home.

Cost-Effective Solution

With more businesses moving to a hybrid, flexible work environment, a timeshare office space can help reduce costs associated with the office. Typical office expenses include rent, utilities (more than one), creating and supporting a company IT department, office furniture & equipment, and more. The costs can be extremely prohibitive for some businesses.

However, a timeshare office space offers a cost-effective solution for the companies sharing the space. Each company only bears part of the cost for using the flexible workspace, which can be a huge benefit for small and medium businesses. These businesses may find themselves with cash-flow problems, making a traditional office out of the question. However, with a timeshare office space, companies have more flexibility with their cash flow and expenses.

Environmentally Friendly

A traditional office is not always the best solution for companies concerned about their carbon footprint. Office furniture, equipment, and more are used by only one company, which is not always a sustainable option.

However, a timeshare means businesses can now become more environmentally friendly. How? Because the flexible office space is shared by more than one company. Each company uses the same office furniture & equipment, the same facilities in the business centre, and more.

With a flexible, timeshare office, each company becomes much greener without too much effort. The cost of going green is also shared by the companies using the timeshare office space. What could be better for the environment than a flexible, timeshare office space?

 

Cons of a Timeshare Flexible Office Space

While a timeshare flexible office space offers many cons, there are also many challenges that go with this type of workspace. Now, let’s take a look at some of the cons that come with a timeshare flexible office space.

Damage/Stolen Property & Who is Responsible

When it comes to property damage, it can be difficult to tell who is responsible for the damage. Legal issues may arise if the companies sharing the space are not able to figure out how to share the damage or discern who is responsible. Another problem is the theft of personal items.

To get around this type of problem, some timeshare office spaces have a policy that says all employees must remove all of their belongings from the flexible office space and clear their workstations by the end of the workday. Managers may even conduct quick inspections to make sure everything is in order. Another solution is to provide personal lockers, where employees may keep their personal belongings.

Timeshare May Not Be Agreeable to All Companies

Another possible problem is that companies using the flexible workspace may not agree on the days they each use the space. For instance, if company A wants to use the space on Monday through Wednesday, but company B may also benefit from using the space on the same days, they will have to solve this issue.

One solution might be to allow company A to use the space during the first half of these days. Then company B can use the flexible timeshare space on the second half of the same days. As long as both companies agree, this can work. However, if the companies cannot come to an agreement, the problem can become quite large and explosive.

 

Summing It Up

Timeshare flexible office spaces are a new concept. There’s a lot to learn when entering into this type of arrangement with one or more companies using the same space.

However, the benefits offered by this hybrid office space can be extremely valuable. The companies and the business centre provider need to come to an equitable agreement on how the space will be used. Then each company using the space can enjoy all the many benefits that come with a timeshare office space.

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