Traditional, five-to-ten year office leases are quickly becoming a thing of the past. When it comes to LA office space, companies have many more options than leasing traditional space or buying a building. LA features a wide range of non-traditional office spaces, which can save your company time and money.
With that in mind, we've put together this list of the top five LA alternatives to traditional office space.
If you know other businesses or friends who need office space, then shared space is a viable option. With shared office space, multiple parties share the working area. With a typical shared-space setup, one company owns or leases the larger property and rents out smaller offices, desks, or portions of their office, to different companies.
Don't know anyone looking for shared space? Online marketplaces like PivotDesk allow you to find shared spaces at the click of a button.
The most obvious benefits of shared office space are the increased flexibility and potential for networking. Most shared office spaces allow for flexible agreements and usually have lower costs than traditional office rentals. You can rent for just a month or an entire year, and you have options if your team grows in size. Additionally, with two or more companies in the same space, shared office space is a good way to make network contacts with others in the same or other industries.
Coworking spaces are similar to shared office spaces in that both are shared and both offer the benefit of networking and exposure to new ideas and businesses. However, shared office space typically consists of one main tenant renting out unused space to one or more smaller companies, while coworking spaces are generally managed, communal spaces that provide both desk space and private office space to freelancers, entrepreneurs, startups, and even enterprise-level firms.
Coworking spaces often offer even more flexibility than shared office spaces. You can rent a desk or an office by the week or month, and they almost always come furnished and with complimentary internet access. However, they may offer less privacy than a space shared with just one or two other companies.
Coworking spaces are very popular among smaller start-ups and entrepreneurs due to the relatively low costs and flexible working arrangements. There are numerous coworking providers across the greater Los Angeles area, such as LAX Coworking, DropDesk, Kleverdog, and more.
Many businesses may not need physical office space on a day-to-day basis but require a space to congregate for meetings, team events, or interviews. For those businesses, part-time meeting space can be a viable solution. As the name implies, businesses and entrepreneurs will rent part-time meeting spaces on a for-use basis.
Part-time meeting spaces are beneficial because they offer a low-cost alternative to renting traditional office space. Part-time meeting space rentals are flexible, and you can rent one for days or even hours at a time. Additionally, businesses can switch part-time meeting space regularly to have a new environment and keep things from getting stale. Services like Breather allow reservation of meeting space and workspace on an hourly basis.
Hotel workspace refers to hotels renting out unreserved rooms on an hourly and/or daily basis to people looking for workspace. The popularity of hotel workspace rose mid-pandemic when workers were experiencing work-from-home burnout and needed more space, a quiet place to work, or just a change of scenery, but were not able to or comfortable with returning to their company's office. This was a win-win for the hospitality industry, which experienced significant dips in occupancy as a result of COVID-19. Hotel workspaces provide a respite from the constraints of the home while also offering all of the amenities one would need to be productive, such as high-speed WiFi and coffee.
The Kimpton Everly Hotel in Hollywood has daily, weekly, and monthly coworking packages, while Hotel Figueroa downtown provides workspace packages for teams. This could be a great perk for companies with distributed teams or without an HQ to offer employees!
Outdoor office space is an exciting new trend in the business world. The benefits of having an outdoor working space are hard to understate. Working outdoors provides natural light, better air quality, and makes it easier for employees to socially distance themselves. And with its temperate climate, Los Angeles is the perfect place to take advantage of the ability to work outdoors.
Studies show that work productivity can increase by nearly 50% after just 30 minutes outdoors, and almost two-thirds of employees say that working outside is beneficial for their physical and mental well-being. There is also some evidence that working outdoors surrounded by nature can increase creativity and bring new ideas to the table. Modern outdoor office spaces focus on "biophilic" designs that incorporate natural elements and natural patterns into physical spaces.
Additionally, since outdoor office spaces incorporate natural elements and landscapes, they are generally much more energy-efficient and environmentally friendly than traditional office spaces. Nature-inspired designs use natural fixtures and recycled materials, which can reduce overhead costs.
Most notably, coworking provider Second Home, located in Hollywood, offers flexible garden and alfresco office space.
Non-traditional office spaces boast several advantages that traditional office spaces lack. Here are just a few.
● They're often more cost-effective. Generally speaking, non-traditional office spaces, such as coworking spaces or shared offices, are more cost-effective than traditional workspaces for small teams or entrepreneurs, especially if a shorter-term agreement is a priority.
● They allow for more flexibility. Traditional office leases lock you into an agreement for at least a few years, and breaking these kinds of leases can be very expensive. Non-traditional office spaces typically have flexible leases, enabling you to rent coworking spaces by the week or month or hotel workspace for a single day or a few hours.
● Networking and collaboration. Communal workspaces can promote networking by providing a space for tenants to connect with like-minded individuals in the same or in different industries. Collaboration is the key to business success, and non-traditional working spaces can expose people to ideas and concepts they otherwise wouldn't consider.
If you're not sure where to begin with your office search, don't overlook non-traditional office space. Such spaces offer a number of benefits when it comes to flexibility, networking, and cost, and may be better suited to your business model than a traditional office.