10 Expert Tips for Selecting a Coworking Space in Singapore

When looking for a coworking space, our clients often ask: How far in advance should we start searching? How many people should we rent for? What important factors need to be considered? To answer all these questions, we have compiled tips and answers in this article:

1. Start Your Search Three Months Ahead of Your Intended Move-In Date

Timing is crucial when searching for an office. The coworking space market is highly dynamic and much faster than the traditional office sector. Offices you view might be sold within a week, so if you leave your search too late, you'll have fewer choices and less negotiating power. The ideal time to start is 3 months before your intended start date. Most coworking spaces have an auto-renewal policy 3 months prior to the agreement end date. By starting your search 3 months ahead, you'll see the entire available stock as people who are leaving will have just terminated their agreements. The longer you wait, the more offices will be sold, leaving fewer options.

2. Factor in Additional Costs for Amenities

Office prices are marketed as "All Inclusive," and indeed most facilities are included, such as furniture, internet, cleaning, receptionist services, and pantry access. However, there are still add-ons on a pay-per-use basis, like meeting rooms, printing, parking, and phone usage. It's best to factor in these additional amenities when budgeting.

3. Avoid Exceeding Your Current Headcount

Rent your office for your present headcount or a maximum of 2 extra people unless you have aggressive hiring plans. Underutilized office space and desks will cost you every day they're empty. While this is the biggest downside of traditional offices, coworking spaces give you the flexibility to upgrade your office anytime, allowing you to move to a bigger office as you hire, rather than in advance.

4. Prioritise a Convenient Location

Location matters as your team will commute to the office regularly, and long commutes are one of the main reasons for employee dissatisfaction. Central areas like Raffles Place, Tanjong Pagar, Suntec, and Marina are prime locations, while City Hall, Orchard, and Beach Road are the second most popular districts.

5. Ask About Internet Speed and Security Measures

A business-grade connection should provide 100Mbps for both uploading and downloading. Anything less indicates too many users and overloaded bandwidth. Do a quick speed test when you visit a location to ensure the internet speed is satisfactory.

6. Check the Current Tenant Profile

The existing tenants in the coworking center will be your neighbors tomorrow, so it's worth checking the tenant profile before signing up. Look for potential competitors, clients, and targeted industries in the premises. Networking comes naturally when you're a member of a coworking space, so knowing the community helps you make an informed decision.

7. Compare Prices Based on Value, Not Just Numbers

Prices can be misleading if you simply compare numbers. The cheapest option on paper might end up costing more than you imagined, or the value might not reflect the price set. Consider the package inclusions and quality of service and offerings. A coworking space with high-quality furniture, free refreshments beyond coffee sachets, meeting room credits, and numerous community events might be worth a higher per-person price in the long run.

8. Explore Relocation and Upgrade Flexibility

While it's pretty much the norm for coworking spaces to offer relocation and upgrade flexibility, confirm with your office provider beforehand that any possible relocation or upgrade won't incur a penalty. Also, ask about potential availability of larger offices if you plan to expand within the next 6 months.

9. Consider Hybrid Work Arrangements and Associated Costs

Hybrid work coworking solutions have gained momentum in the last 3 years. Most coworking spaces now offer innovative options for hybrid workforces. For example, JustCo Superpass allows you to share the office with additional access-on-demand for hybrid teams at just $10/month per person. WeWork Workplace app offers similar features at $15/month. This way, you can rotate desks within your workforce and maximize office efficiency. If your total headcount is 20 people but only 10 use the office each day, you can rent a 10-person office and add 10 hybrid workers at remarkably low prices.

10. Work with a Flex Broker for Free Expert Guidance

Our final advice is to work with flexible office space specialists like OflexCo to get expert opinions and a dedicated account manager to handle all quotations, viewings, and negotiations. As coworking space packages can be confusing, your advisor can help clarify important points and find the ideal office space based on your requirements. The best part is that at OflexCo, our consultations and services are 100% free of charge, so you can enjoy the comfort of having your dedicated consultant at no cost.

Conclusion:

Choosing the right space for your office can be daunting, but we're here to help guide you and share rare find offices before they hit the market! We hope these important points will assist you in your office space search.