In South Korea, an officetel is a multi-use structure with commercial and residential units built on top of one another. Unlike in the US, the building codes in South Korea only require that the roof is flat and has an immaculate drainage system. The traditional method of building an officetel is to build a large rectangular building and place residential units on top of it. Traditionally, each floor of the building would have a store or a bank.
Oftentimes, these buildings are constructed without floors. A recent trend in South Korea is to utilize the lower floor of the building as an office or reception area. Auctions are also becoming popular at the Officetel. Because the location is so close to the airport and the bus station, a lot of people commute to work daily. One of the ways to maximize comfort while minimizing commute time is to live at an officetel.
A new trend in South Korea is to locate an officetel on top of a high rise. Since the construction cost of a high rise building is very high, the developers are going for the easy way out. They place the offices on the top of the building and rent them out to the locals. Renting out an office in the sky is much more profitable than renting out an office in a building that is not used. It’s a good deal for the developer, and they can increase the rent as the demand for their services increases.
Another trend in South Korea is to utilize the roof of a high rise building. An example of this would be an office that would be on top of a three-story apartment building. The three stories would basically be used as a stock room. The office would be used for meetings and lectures, while the apartment units would have their own kitchen, laundry area, and so on. In this manner, the apartment units would make up the majority of the space. This is also a great way to create a new trend in South Korea – multi-use buildings with multiple purposes!
An interesting development in officetel flats is the availability of internet access. Many apartments now come equipped with computers, internet connections, and television screens. Some flats even have coffee machines and microwave ovens installed!
The benefits to tenants of an office model are many. Aside from having a permanent location to call home, tenants benefit from the flexibility and convenience. Since the location is their own, they have the freedom to choose whether or not to cook outside during the summer months, purchase and eat outside on lunch breaks, and use the television, internet, and other common amenities at the convenience of their office. A real estate marketer might not see the benefits to the client as immediate or short-term, but in the long-run, these developments prove to be more cost-effective than traditional rental properties, and give owners the sense that they are truly giving their tenants value for their money.
Not only are the financial and property benefits of an office furniture rental different from those of a traditional apartment, but the benefits per tenant are also much greater. Tenants of an officetel apartment are free to live anywhere in the building they choose, instead of being limited to their shared living space. They can choose their floor plan and sub-lease with flexibility. In addition to their freedom of choice, the convenience of the internet and ability to watch television, surf the web, and use other common amenities all contribute to tenant satisfaction. When compared to traditional rentals, most office models prove to be more comfortable, more luxurious, and more supportive. Many officetel buildings offer a shuttle service, free fitness classes, laundry services, babysitting, and more.
While many people may shy away from the thought of leasing an officetel apartment, it is an option worth considering for a new home or a house-turn-key rental. The price may seem high at first, but the added benefit of the additional amenities and the extra stability it provides make it well worth the investment. Offering extra value and a sense of security to tenants is one of the many reasons why investing in office furniture for apartments is a smart move. When everything is working together, as they should, the apartment owner has nothing to worry about.
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