From what amenities are offered to how long of a term you need, here’s everything you should consider before renting your next office or coworking space in Vancouver.
Whether you’re part of an established company or simply an entrepreneur working from home, moving to a dedicated office or coworking space could be the next step towards achieving your goals.
Fortunately, Vancouver is home to incredible office spaces. The challenge is finding the space that is right for your company, your guests, and most importantly - for you. With that in mind, we’ve partnered with iQ Office Suites, to help cover what you need to consider before making the switch to a coworking space.
Step 1: Understanding Coworking vs. Traditional Office Space
Traditional office space requires companies to determine the number of employees they will need to accommodate throughout the term of their lease. If you’re in fast-growing organization, anticipating these needs for the next 5-15 years (the range for a traditional office lease) can be a very difficult thing to do.
Coworking spaces however, are pre-built and fully equipped to accommodate a wide range of work styles and team needs - all while being offered on much shorter terms (anywhere from 2 months to 2 years). This enables much more flexibility, which means you can look for what you need now and your team will have the freedom to expand/contract in the future.
Step 2: Research Your Options
Get to know the operator. iQ Office Suites is a Canadian based company with locations in Vancouver, and Toronto and plans to launch in Calgary, Ottawa and Montreal later this year. Their West Georgia location in Downtown Vancouver’s Royal Centre occupies the building’s entire 21st floor, featuring 360 degree views of the breathtaking Vancouver skyline, floor to ceiling glass windows, sit/stand desks, unlimited 49th Parallel coffee, and reclaimed wood design elements that were designed by local artists.
Staffed by a friendly and attentive team, iQ also offers members direct underground access to the Burrard SkyTrain Station, complimentary gym facilities, and 24-hour covered (car and bicycle) parking. In addition, the location is serviced by two levels of retail amenities featuring a multitude of shops and restaurants. You can learn more about this location or schedule a tour here.
Step 3: Ask the Right Questions
1. Price -What is included in the price and what is charged in addition to the monthly cost?
2. Technology -Is the network shared and if so, is there any network security in place to combat data theft?
3. Terms -Are there any discounts or advantages for signing on for longer terms?
4. Amenities -What amenities are available in the space, the building and the neighbourhood?
5. Cleaning - Who is responsible for cleaning the general space, what is included, and how often is it cleaned?
6. Programming - Does the space offer social, learning, or networking events?
7. Operation size- How big is the operation? Spaces under 30,000 square feet are considered “boutique” and can have a very different feel than larger “big box” style spaces.
Step 4: Obtain a proposal or licensing agreement in addition to your lease
Unlike a traditional lease, which can be over 70 pages long, a license agreement is usually under six pages and generally written in language which is easily understood. That said, it is still worthwhile to have your lawyer take a look to ensure there are no surprises!
Step 5 : Move In and Get to Work!
Once your agreement is signed - get ready to enjoy the manybenefits of coworking! Luxuries include:
- Reduced setup costs
- Greater flexibility
- Same day move-in
- Turn-key services
- Private meeting rooms & phone booths
- Snacks & refreshments
- Fast and secure internet
- And much more!
To learn more about the benefits of coworking, or to find a location near you, visit iqoffice.ca