Sharing Space 101

By Becca Chiaravalle

The skinny on space sharing

With the way the professional world is adapting and evolving, you’ve probably heard the terms “space sharing” or “coworking.” If you’re unfamiliar, get familiar, because there are serious benefits to working in these environments!

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Like most things, there are questions and concerns that exist along with the benefits. How do I find someone to share my space with? 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 during a process like this. As a business that helps people find space and vice versa, we want to talk about these concerns, 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 or coworking. 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 you don’t end up in a situation where either or both parties don’t feel like they are getting what they signed up for.

For example, if you have just an empty room in the building, think about who you would want working out of it. Would you feel comfortable with a massage therapist running a business out of it? Or an artist using it as a studio?

Point being, know who you want.

Set your price

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, do you include a desk? What about a printer, paper, pens and an amazing view of the city?

Just like any other commercial space, think about what you have, what it is worth, and do your research.

Set house rules

This one doesn’t take a lot of research necessarily, just a lot of thinking about what you feel comfortable with. It’s your space, so you set the rules.

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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?
  • 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 what to do to respect your space in the way you’re looking for unless you tell them.

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.

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Processing payment

This is where we come in at SpaceTogether. By using our website, not only is it easier to find a renter, but you don’t have to worry about the payment process. We take care of that completely.

Before you go, remember these takeaways

While space sharing can get detailed and feel risky, it is well worth the work. 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 that SpaceTogether is here to make the process as easy as possible for you. From finding qualified, verified people to share space with to getting the details setup, SpaceTogether is here to help you along the way. You can sign up here, or click the little blue circle in the corner for help!

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