The sudden halt to business continuity in the last quarter resulted in huge revenue losses for businesses worldwide. As a coping mechanism, organisations all over the world are rethinking their workspace requirements and the cost incurred on non-core business activities. With innovation at its heart, the team at Skootr has developed a revolutionary leasing model ‘Reverse Office’ that successfully meets this requirement of an enterprise in a timely and cost-effective manner. So without further ado, here are 3 effective ways to restructure your post COVID office with Skootr.
- Reverse with Anchor
With more employees preferring to work-from-home and changes in existing manpower, enterprises are looking at optimally utilizing their office space with the remaining workforce returning to work after COVID-19. With this solution, enterprises maximize their returns on the existing lease by surrendering their entire portfolio to Skootr and signing a new lease which gives them the freedom and flexibility to twist their conventional lease and shift to a managed office lease. Under the new lease agreement, the enterprise gets to retain the office space they need from the entire area and the remaining space is subleased to other enterprises through Skootr. A course of action is established to complete the process in a timely and hassle-free way.
This helps in saving overhead and maintenance cost along with providing flexibility to scale up and take smaller portions of real estate according to the fluctuation in needs. It also helps to break free of stringent lock-ins and save on rentals which in turn boost financial agility.
- Consolidation
For large enterprises looking to consolidate offices spread over a vast geographical area this model offers an ideal solution, which accommodates the manpower at one place and save on the operational costs. Skootr provides tailor-made services in accordance with a corporate’s requirement by adding a set of assets in an organisation’s existing real estate portfolio to offer a consolidated solution.
This helps in removing hassles of operating multiple offices such as different rental payments, handling paperwork and maintenance issues involved with multiple locations. It takes away the enterprise’s worry about their obligation to different signed leases for different properties.
- Reverse and Relocate
With a huge chunk of employees working remotely, enterprises are in quest of ways which reduce overhead expenses in the upkeep of an office space and other peripheral costs associated with non-core business activity.
The model works in two different scenarios, firstly when an enterprise is already stuck in a lock-in period with an expensive property. They can surrender that property to Skootr by signing a new lease wherein Skootr takes up their existing space and at the same time finds and customizes a new office space with lesser rentals according to the corporate’s requirement.
The second scenario involves an enterprise which is looking for a new office with lesser rent commitment in the nearby area but they don’t wish to bear the scrap cost of the investment done in furniture and fixtures in the existing office space. Here, Skootr takes up space along with the existing fixture and in turn, offers tailor-made office space in the nearby location for the enterprise.
This solution works for enterprises that are aiming to reduce their rental payments considerably by shifting their office to a nearby location which promises lesser rentals.
As the pandemic continues to affect the way we function, the future of flexible workspace model with reverse office concept presents an unconventional way of looking at leases in the office sector and offers a win-win solution for all stakeholders. Developers get a sense of assurance from a consistent flow of rental income, better tenancy ratio, saved costs on property maintenance and restructuring of assets while exercising control over the portfolio. Enterprises save on maintenance and administration costs based on surrendered area, optimized rentals, while enjoying flexibility to scale as and when required.
~~ By Ankit Jain, Co-founder & Director
Skootr Offices
