In an age of growing competition where the aesthetics of the office space matter as much as the quality of the business, entrepreneurs are subjected to a daunting decision that will determine the growth of their business: whether to choose a furnished vs unfurnished office space.
Furnished vs Unfurnished Office Space
It is believed by the experts that the size of the business must be an important deciding factor when it comes to renting or leasing out an office space. A startup, for example, can save money by renting or leasing a small office space with few furnishings or by renting furniture.On the other hand, a well-established company may either opt for a furnished office space or get an unfurnished office space customized according to their business needs and image.
There are a few factors that entrepreneurs need to remember when deciding whether to rent or lease office space: the budget, their preferred location, the amenities provided when leasing or renting an office space, and the image they want to project that would boost their brand’s reputation.
It is understood that both furnished and unfurnished office spaces have their own set of drawbacks and benefits. While the low rental costs of unfurnished office space may appeal to you, the capital required to decorate and set up the space may be extremely draining. Similarly, leasing furnished space is both appealing and less work, but the average leasing value can be quite high. Hence, it would be beneficial for the owner to understand and take into consideration all the factors while making a decision.
For a better understanding, consider reading the advantages and disadvantages of furnished and unfurnished office spaces listed below.
Advantages of Furnished Office Space
The advantages of furnished office spaces are given below:
- Saves time and grueling work: A completely assembled office space allows you to start working immediately without the added hassle of finding suitable decorations for your space. Relocating or establishing your firm can really take a toll on you, so renting a furnished office would make your already hectic schedule less hectic and save weeks or even months of assembling time. In a furnished office, your indulgences as well as added amenities are known to you, making it easier for you to start working whenever you prefer. It is more suitable for large organizations to use a furnished office, as their workforce is vast and delays in operations can have imperative consequences. Hence, furnished office spaces are considered superior to unfurnished or alternative office spaces.
- Professional Touch to Your Interior: In modern times, it is important to leave your client with a memorable impression, but just your business idea is not enough. The interior of your office reflects your brand image and gives people an idea of what you can offer. Since furnished offices are often decorated by professional interior designers, their key focus is to always utilize every corner of your office and create an aesthetic that is pleasing to the eyes. Hence, when you are renting out a furnished office, the chances of getting more for less are high. Furnished office spaces provide organizations with a vast array of options to select from, allowing them the freedom to choose whatever is suitable for their brand.
Disadvantages of Furnished Office Space
The disadvantages of furnished office spaces are given below:
- Rental Cost: Rental values are one of the biggest disadvantages of leasing a fully equipped office space. Since furnished offices provide lots of amenities and ready-to-use decor on rent, the capital is much higher than an unfurnished space, thus renters must keep in mind the high expenditure being made on rent. The average lease might increase depending on the location of the office space because higher land costs equal a higher cost of rent.
- Increased Liability: Due to any incident, if there is damage done to the property or interior, or if any other loss occurs, the tenant will be held solely liable. This will allow the landlord to charge them the cost of the damage and collect it from the security deposit provided during the initial transaction.
Advantages of Unfurnished Office Space
The advantages of unfurnished office spaces are given below:
- Flexibility to Customize: As can be understood from the title, an unfurnished office space is like an empty shell that allows you to customize it based on your brand identity and values. Decorating the space from scratch with your choice of furniture and decorations shows your personal taste. Unfurnished office spaces are especially suitable for establishments that have leftover furniture from their previous workspace arrangement. It also allows you to install and remove furniture as needed.
- Lower Rental Cost: Since there will be no furniture and decorations provided while leasing an unfurnished office space, it is obvious that the average cost would be half that of the furnished spaces. The choice of renting an unfurnished space is more convenient for startups and small businesses that have yet to reach their breakthrough. Coworking spaces are also an option for them; however, the average leasing cost is still lower than that of coworking spaces.
- Reduced liability: Apart from the cost of maintenance, unfurnished office spaces do not require any other obligations from the renter. Since the furniture is either hired or purchased, the landlord cannot interfere in cases of furniture damage. In addition, purchased furniture is a long-term asset that can be transported to any place you decide.
Disadvantages of Unfurnished Office Space
The advantages of unfurnished office spaces are given below:
- Setup Time: As it is already understood, unlike furnished spaces, unfurnished spaces take up a lot of time. From the electrical wiring to the workstation setup, you will have to look after everything till it’s completed. Setting up your office can take months of planning and effort, which can disrupt your workflow and cause delays and backlogs. Hence, it is advisable to rent a fully assembled workspace.
- Could Be An Expensive Choice: As discussed above, you will have to purchase and set up the space from scratch, and this could turn out to be more expensive than expected. Office furniture is on the costlier side, and you must remove or transport it while moving out, which calls for added expenses. Though the average cost of unfurnished office space is lower than that of furnished office space, in reality, it could burn a hole through your wallet.
An office is not just a space where employees work; rather, it is an intricate ecosystem where rich discussions and interactions take place. Hence, providing a workspace that suits the needs of employees is important. While the advantages of furnished offices outweigh those of unfurnished spaces, the decision to rent an office space should ideally be based on the needs and prospects of the company.
FAQs on Furnished vs Unfurnished Office Space
The frequently asked questions on Furnished vs Unfurnished office space are given below:
Is it better to rent a fully furnished or unfurnished office space?
Whether to rent a furnished or unfurnished office space depends solely on your budget and the size of your business. A fully furnished space comes with a lot of benefits and cuts down on time spent customizing an unfurnished space from scratch. Though the rent of an empty office is significantly lower than that of a furnished one, it is important to remember that purchasing and renting furniture can drain your money faster. For more details regarding this topic, read the Advantages and Disadvantages of Furnished and Unfurnished Office Spaces section of the article.
What can I expect in a fully furnished office?
A furnished office would include basic workplace amenities such as desks, chairs, cupboards, and bathroom facilities. Because decorations and interior design are frequently handled by professionals, you can expect an aesthetically pleasing interior that will boost your brand’s reputation.
Does a fully furnished office space include laptops?
Among the amenities provided by fully furnished office spaces, laptops are not included.
What are at least five things to consider when renting a coworking space?
You might want to consider renting a coworking space if you are a freelancer, an entrepreneur, running a small business, or a startup. Large organizations are not recommended to rent a coworking space. Important factors to consider when renting a coworking space include:
- The cost of the rent
- How long is the rental period?
- Amenities and resources are provided
- Terms and conditions
- Networking events and opportunities