5 Things to Know When Renting an Office in Hong Kong

In 2011, Hong Kong was revealed to be the most expensive place in the world to rent a conventional office workspace. This is bad news for younger companies and businesses looking to relocate to a brand new market. As rental costs and onsite logistics already make up the largest proportion of the expenses borne by new ventures, it is likely that the news discouraged many potential investors.

Fortunately, the corporate world favours the bold and clever companies know that a willingness to think outside of the box is a valuable tool. Yes, rental prices in Hong Kong are very high, but there are alternatives. For instance, Servcorp office space for rent in Hong Kong provides affordable, comprehensive suites for a flat rate monthly fee. All of the basic overheads are included in the agreed upon price.

This guide to finding a suitable serviced office in Hong Kong will help you select a complete package of your own.

What the Office Looks Like

Don’t make the mistake of signing an agreement before you’ve toured the facility in person. If you’re in the midst of relocating from overseas, this might be inconvenient, but it is important. Taking an onsite tour is the only way to know for sure if the environment is a good fit for your business and its employees.

Whether the Provider Has a Good Reputation

It is easy to find out if a provider of serviced office solutions has a good reputation within the business communities of Hong Kong. You just have to do a little bit of online research. Or, alternatively, you could take a tour of the facility and chat with current residents. Most of these locations contain communal areas, where employees can co-work or hang out during their downtime.

What the Receptionist Offers

The majority of serviced offices – certainly the best ones – provide access to a dedicated receptionist or phone answering service as part of the package. Communication is the front line of any business, so it is a good idea to be clear on exactly what duties your receptionist will carry out as part of the monthly fee. For instance, ask whether the phone answering service is 24/7; don’t assume.

How Flexible the Terms Are

The big benefit of going for a serviced facility over a conventional lease is that you don’t have to agree to a lock-in contract. Long term agreements can be very risky, particularly in areas with high rent prices. If profits aren’t quite as impressive as hoped for one year, a business is likely to struggle to meet the costs. With a serviced office, it could simply renegotiate the terms, move to a smaller space, or end the short term lease.

Whether Cleaning Fees Are Included

It is quite common for serviced offices to include a cleaner. And you certainly shouldn’t have to pay extra for things like heating and lighting. This is a good way to keep overheads to a minimum and continue to grow, even in a city that is notorious for its high rental fees. Plus, if you’re not splitting your focus between multitudes of logistical responsibilities, you’ll be able to concentrate more keenly on plans for the future.  

Why Going ‘Serviced’ Is the Hot New Trend for Small Businesses

Working from a serviced office gives businesses the chance to respond to their market surroundings. Very often, seemingly invincible companies are toppled because too much of their capital is tied up in rental costs. The market turns in an unexpected fashion and they aren’t able to adapt. Agile, flexible business models and work environments are ideal for modern companies because they come with an inbuilt capacity for change.

Article by Kyle

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