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The beginner's guide to "Flexspeak"

WTF is Flexspace?

Flexspace covers any office solution that isn't a traditional lease. One monthly cost covers everything. This includes managed, serviced and fractional offices. Commitment lengths are usually for one year or less. But what exactly are these? Let's break it down…

What is a Serviced Office?

Think WeWork. You get a private office for desk space but share the other stuff - meeting rooms, breakout spaces, etc. - with other businesses. Perfect for teams of 4-25 who want their own space but like a bit of buzz around them.

What is a Managed Office?

Your own complete office, fitted out just for you, with one monthly bill covering everything. Ideal for teams of 20+ who want their own space but don't fancy the hassle and risk of a traditional lease. Typically 2-3 year contracts

What is a Fractional Office?

Our creation: all the benefits of a managed office, but you only pay for the days you need it. Perfect for hybrid working teams of 8-100 who want their own space but don't need it full-time. Why pay for empty desks?

What is a Traditional Lease?

Pre-pandemic, this was pretty much all you could get. Long commitment (usually 8+ years), you handle the fitout, and you juggle all the separate costs yourself. Plus, you have to return the office to its original state. Not exactly flexible or cost effective.

What is “on-demand”?

Need a meeting room for a day? A desk for a week? That's on-demand space. Great for freelancers and remote-first teams. (Quick note: not our thing, but worth knowing about.)

What is a rent-free period?

Free month(s) at the start of your term. Traditional landlords offer it to cover fitout time. Flex providers might throw it in if you commit longer (2-3 years). They prefer this to dropping their monthly rate.

What is a fitout?

Getting your office ready for action. In traditional offices, we're talking walls and carpets. In managed offices, it's more about tweaking things to match your needs - adding that extra meeting room or upgrading the kitchen. Your space, your way.

What is a step-deal?

Start paying less, pay more later. Usually offered on managed offices. Great if you're growing but want to watch your cash flow early on. Just make sure you've planned for those increases.

What is the difference between brokers, agents and providers?

Here's the deal: Providers (like WeWork) own or run the space. Brokers and agents connect you with them. Brokers specialize in flex space, agents typically focus on traditional leases. Fun fact: 95% of office deals involve a broker or agent. Brokers don't charge a fee to the Seeker but agents often do.

And yes, we actually all get along really well!

How do brokers and agents make money?

Straight up: providers pay us when you sign, but only if we arranged your viewing. Usually 10% of year one's rent. Good news: this means our service is free for you. Bad news: some brokers rush to arrange viewings before fully understanding your needs, just to "claim" the deal. Not our style. Agents often will charge you and sometimes ask for exclusively, meaning you pay them even if they don't find you an office. Yes honestly!

What makes a great flexspace broker?

They need the full market at their fingertips and solid provider relationships. They take time to really understand your team and their needs. Move fast when you need speed, show patience when you don't. No BS, total transparency, and fight for your best deal. That's our blueprint.

Fractional Offices: A fraction of the week for a fraction of the cost…

Why pay for 5 days when you only need 3 or 2?

Fractional Offices are a new category of office created by Space32 for today's hybrid teams. They are great value, all-inclusive managed office solutions available on a part-time basis.

To find out more, search for spaces or see if your current space could be a fractional office, visit our sister site space32.pro

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Top tips from the frontline...

"Always ask about other tenants in a building"

The first thing I check in every building is who's already there. Each building has its own vibe - get this wrong and your team culture suffers. Always ask about other tenants while viewing. It's saved clients from bad fits countless times

Get more insights from Paula...

"Get your leadership aligned at the start of the search"

"Get your leadership aligned at the start of the search"

Want to waste weeks of searching? Skip getting your leadership aligned at the start. I see it all the time - someone thinks they've found the perfect space only to have their colleagues shoot it down. Get everyone's must-haves clear from day one.

More frontline wisdom from Rich...

"Fractional, part-time space will become standard for many"

The numbers don't lie. A 20-person business taking space for half the week saves £70k per year. That's 20% straight to your bottom line. For hybrid teams, it's a no-brainer - and I'm seeing more companies figure this out every month.

Read Jon's full take...

"A space your team deserves is more important than budget"

"A space your team deserves is more important than budget"

The fastest way to kill office culture? Choose purely on budget. I've watched teams reject spaces they love for marginal savings, only to regret it when attendance tanks. An inspiring space pays for itself in engagement.

See what else TJ has learnt...