Flexible office spaces are office spaces that provide immense flexibility in a wide range of areas to the user, such as lease periods and work areas. They are more commonly known as shared offices or flexi spaces, and usually have employees from different companies working in the same space. They are immediately available for occupancy, as they are already furnished with furniture and IT infrastructure. On the other hand, traditional offices are only for employees of one particular company to use and each person has their own cubicle and department. In terms of leases, flexible office spaces are significantly more flexible, cost effective, and have a shorter lease period than traditional offices, as you have the power to just rent one desk for by the day or lease a cubicle on a monthly basis. Compared to traditional offices, there is minimal flexibility in a conventional lease, usually having a high up-front cost and a much longer lease period of on average 3 to 5 years. Additionally, flexible office spaces are also different in terms of design and layout with flexible office spaces having a more open office and team-based layout, which contrasts with traditional offices with their individual offices and enclosed cubicles.