Glossary & FAQ

Business Center

A modern office facility with private offices that are pre-wired, pre-built and pre-furnished. The facility itself has top-tier support staff, meeting rooms, reception areas, break rooms, business lounges, and more.

Business Lounge
Many centers offer a more relaxed setting for meetings. In addition to providing a setting for informal meetings, a business lounge allows you the option to sit and work with your laptop if you want to take a breather from your office, or to just relax and socialize with others on the floor. Business lounges are great amenities that add to the value of an executive suite.

Cloud Storage
Some of the newer and more tech-oriented business centers offer a certain amount of free or discounted cloud storage with each office rental. Companies are becoming increasingly reliant on services such as Dropbox or Google Docs as a way to store, access, and share important documents and files in a completely secure, cloud-based environment. No longer is there any need to take up large amounts of hardware space on your computer.

Coworking Space
Coworking space is a collaborative and shared office atmosphere. Ideal for home-based or mobile businesses, coworking office environments give you the option to work out of a vibrant and professional setting with modern desks, tables, and couches, all of which is supported by a general office infrastructure, for as long as you desire.

Document Services
​Many business centers offer access to advanced document storage and printing services that are designed to help simplify working with physical documents in a safe and secure way. It’s easy to print, make copies, fax, and scan directly from your computer, instantaneously. If you have any trouble, there’s someone there to help. You never have to worry about copy machine leases, toners, ink cartridges, or equipment breakdown.

Executive Office Suites
Business-ready offices that are built-out and ready to move into. Rents are typically all-inclusive and lease terms are flexible. The offices are private and separate from one another, but they are collectively part of a managed office facility with a dedicated support staff and a top-tier IT infrastructure.

Flexible Terms
Unlike leases for traditional spaces, executive office suites allow for short-term service agreements. Typical durations are three, six, or twelve months; often there are better rates with longer terms. Business centers also allow a company the mobility to move offices during a contract period without breaking the terms of the agreement.

Furnished Office
Offices that come furnished with modern, ergonomic furniture and equipment. Executive office suites typically come fully furnished, and the term can be interchangeable. The renter can also bring his/her own furniture should they desire.

Hot Desking
A workstation that is rented out for short-term requirements and that can be used by either one company or multiple companies at different, predetermined times. Hot desking is common in coworking space facilities and can also be found in some executive office suites.

In-House Receptionist
Using the in-house receptionist is a pay-as-you-go service that can be used by residents of the executive suite facility as needed, as well as by virtual office customers. The receptionist can answer phones on behalf of your company, take messages and forward calls, make copies, send faxes, and more.

Meeting/Conference Rooms
There are often multiple meeting and conference rooms on the floor that can be used as needed. A company can get a certain number of free hours of usage time per month; beyond this there are very reasonable hourly fees to use the rooms. This can save you a considerable amount of money when measured against the alternative of renting extra space to hold meetings.

Open Plan Offices
Offices that are large and open and that allow for more build-out and customization than traditional executive office suites. Great for larger requirements. Amenities are still all-inclusive. Open plan offices can sometimes have cubicles or other dividers.

Service Agreement
Used for executive office suites, these simple two- to three-page agreements are more flexible than a traditional lease agreement. They are easy to read and understand and even allow for mobility among offices during the contract.

Serviced Offices
A term that is interchangeable with executive office suites. Mainly used in the UK and Europe.

Support Staff
A dedicated support staff manages and maintains the floor of an executive office suite facility to ensure everything runs smoothly every day. An on-site manager that is easily accessible can be much more efficient than having to rely on a landlord who may or may not be available when needed most. Some business centers also have onsite IT support.

Virtual Office
There are different types of virtual office packages. Typically, they include on-call reception services, a well-recognized business mailing address, access to conference and meeting rooms as needed, and mail forwarding. These are great options for start-ups that are looking to improve their company image and capabilities but who don’t need a permanent office.

Workspace
Another way to describe a dynamic office space and/or team room. Workspaces imply layout and design flexibility and adapt to the unique requirements of your business rather than the other way around.

Workstation
Simply put, a workstation is a desk with a phone, Internet access, and basic office furniture. The term is often used to refer to a desk or cubicle for a single person; an office can have multiple workstations.