As the shared economy concept grows, it’s time to learn about the differences between shared space, flexible space, and coworking, and how they can benefit your organization.
The skinny on space sharing
With the way the professional world is adapting and evolving, you’ve probably heard the terms space sharing, office sharing, and coworking. If you’re unfamiliar, it’s time to get familiar, because there are serious benefits to working in shared spaces!
Along with the benefits of new ideas, there are questions and concerns. How do I find someone to share my space with? How do I share working space? What do I charge them? How do I ensure my space is respected? How can I make sure I get paid?
We recognize the need for details and answers when considering sharing space. As a business that helps people find space and vice versa, we want to talk about the details, and let you know why space sharing is still the best idea you’ve ever heard.
Let’s get started.
Create a detailed plan
There is a lot of thinking and researching that goes into space sharing, whether it’s sharing office space, coworking, or one of the many other options for shared spaces. We’ve compiled a list of the main points to consider and understand in order to make the process run smoothly, so you can get exactly what you need!
Know the kind of renter you want
Do you have an office for rent? A studio? A gym? Knowing what your facility is optimal for can help you narrow down the kind of renter you need, so the process of finding someone to share your space with is even simpler.
Your space is probably more versatile than you think. For example, if you have just an empty room in your building or office, think about who could work out of it. Would you feel comfortable with a massage therapist running a business out of it? What about an artist using it as a studio? Or is it preferable to use it as a shared office space?
Point being, knowing what your space is optimal for will make the process of sharing space faster and easier.
Set house rules for your shared space
This can get tricky. Consider the square footage of your space and the amenities you’re willing to provide. If you have an office space for rent, will you include a desk? What about a printer, paper, pens and an amazing view of the city? Amenities change the value of a space.
Just like any other commercial space, think about what you have, what it is worth, and do your research before setting a price.
Set house rules
Setting house rules for your shared space won’t take a lot of research; however, consideration about what you feel comfortable with is a priority. It’s your space, so you set the rules.
Here are some guiding questions to help you think about what you might want from a renter in your space:
- How do you feel about food in your space?
- What about possible chemicals/paint/artistic tools?
- Will noise—music, video calls, etc—bother neighboring spaces?
- What about other people having access to the space who aren’t on the lease?
If you care about space etiquette, make that known. What you want and need from a renter in regards to your space is perfectly acceptable, but your renter won’t know how to respect your space in the way you want unless you make it clear.
Set an agreement
After you have decided how much to charge and the kinds of rules you want to set, it’s time to set up an agreement. It doesn’t have to be a complicated 100-page contract. Keep it simple, outlining the details you’ve talked about with your renter. This is meant to benefit both parties, so everyone gets what they need.The most successful shared space relationships have solid communication.
This is where we come in at SpaceTogether. By using our payment processing, it is not only easier to find a renter, but you don’t have to worry about the complications that arise in the payment process between two parties. We take care of it completely, so you can focus on what matters--your business!
Before you go, remember these takeaways
While space sharing may seem like a new concept, it’s been proven to be a cost-effective solution for both renters and providers alike. As a business owner, you have the ability to develop new professional relationships, nurture another growing business, and help your own business by making more money and decreasing your overhead.
By doing the research we talked about and being honest with yourself and your renters about what you want and need, you’ll be able to successfully share your space. Most importantly, remember than SpaceTogether is here to make the process as easy as possible for you. You can sign up here, or click the little blue circle in the corner for help!