After letting you set working hours and location using Outlook Web Access (aka OWA, aka Outlook on the Web) (see https://t.co/kijyFgJvv6), you can now do the same with Teams client.
To do so, click on your picture on the Teams client and click on Set your work location for today available just right of your availability status; you can choose between Office or Remote
When you have a working location set, you can change/reset it from the same location
This option is being deployed for targeted release tenant (preview) and schedule to start in early June with completion expected by early August for standard release tenant.
NOTE this feature is not syncing with your settings from Outlook Web Access