A traditional office space or a coworking office space? – You decide.
With the world of remote working constantly changing, it’s easy to become overwhelmed with the ‘where’, ‘when’ and ‘how’ questions. We have been asking the very same things and have done our best to provide you with accurate findings to help you on your decision journey.
By comparing two working options; a coworking space and traditional office space, we hope that you will feel more informed as you make the best decision for yourself. To keep this comparison as fair as possible, averages and ranges are used rather than exact numbers and the research is based on a 5km radius from our location in Cape Town.
When it comes to traditional office space, there are 2 options. Either you buy the space, or you rent it. Although these spaces are reasonably easy to find, they come at quite a hefty price. According to research based off Property24, you are looking at around R115 per square metre to rent and R15 000 per square metre to purchase. Meanwhile, although there is only the option of renting for a coworking space, there are multiple renting options.
At HOUSE OF_, you can rent office space for up to 6 people for as little as R5 000 (excluding VAT). If you work better solo, you could rent a single desk in a shared office space for as little as R3 000 (excluding VAT), depending on your specific needs. HOUSE OF_ also offers a boardroom with all the equipment you could need for R300 per hour (excluding VAT). With all these options at your fingertips, you could pick and choose as your needs arise and change.
Another factor to take into your calculations before deciding on whether to choose a traditional office space or a coworking space would be, what we have grouped as municipal costs. Municipal costs include monthly electricity, water and sanitation, and rates and taxes bills just to name a few. You are only responsible for these added costs if you choose to either rent or buy traditional office space. These municipal costs are included in coworking office space fees- ensuring that no nasty surprises appear at the end of the month.
WIFI, cleaning, security, building management, and receptionist\ administrator are necessary costs that are collectively named running costs. According to the research we have performed, these costs could easily accumulate to over R20 000 per month for small offices and up to R50 000 per month for larger offices. This list of running costs has been simplified and would almost certainly increase in the realistic day-to-day running of a traditional office space. Once again, those who opt for the coworking space option are exempt from all these costs- and you can breathe out a sigh of relief!
Bronwyn Nell. JUNE 28, 2022
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