Jul 12, 2023
Increasingly, we live in a sharing economy. We share rides, share bikes, share scooters and, sometimes, even share clothing. The great news for small businesses and any company that doesn’t need a traditional office space is that a coworking space provides access to that sharing economy for business, too. What does that mean? Let’s compare a coworking space membership agreement to a traditional commercial lease to see how this new arrangement can benefit your company.
Until about a decade ago, a commercial lease agreement was the only option for businesses looking to rent property. In this arrangement, the business owner signs a lease with a real estate owner or landlord to occupy their commercial space for a certain length of time, usually three to five years. These agreements are typically complex, the properties were priced per square foot, and the negotiations are complicated enough to require the expertise of a professional tenant broker. Building owners evaluate different offers, based on factors like creditworthiness, business history, business plan, and projected cash flow, to choose a worthy tenant. Often, with a commercial lease agreement, the tenant is responsible not only for rent and utilities, but also for a share of the building maintenance, insurance, property taxes, and so on.
Coworking vs Traditional Lease Comparison
A coworking space membership agreement works quite differently from a traditional lease. Coworking spaces are shared offices, a versatile option for businesses that don’t need a large or permanent space, as well as freelancers who need a professional environment in which to work. The leases are much shorter and typically all-inclusive, encompassing not just a place to work but also amenities and often even furniture. Coworking spaces are typically in desirable neighborhoods, and they are well-designed, so they are perfect not just for working, but also for meeting with clients or customers. Rather than a cumbersome, long-term lease, coworking spaces offer affordability and flexibility without the commitment of a commercial lease.
It’s not just the lease that’s beneficial to small or growing businesses. Coworking spaces offer the opportunity to work on your own or collaborate with others. Remote work, particularly when done from home, can start to feel flat without the energy of an office, but coworking spaces allow you to recapture that. Additionally, coworking spaces typically provide shared office equipment, provide amenities, and offer flexibility, should your needs change. In this kind of space, you will have access to things like conference rooms and client waiting rooms, in an attractive environment, when you need them.
If you are looking for commercial office space for rent, Urban Office offers modern, flexible office space in Houston, San Antonio, and Austin, Texas. Providing more than the average coworking space, we offer our members private offices and shared amenities, at top-notch addresses in prime locations. Located within walking distance to some of the city’s top restaurants, bars, and retail, our offices combine location, affordability, modern design, and convenience to create the Urban Office Lifestyle. Each of our members gets their own private office with a door, and each location has a shared waiting area for clients, in our beautiful modern offices that are protected with access-controlled security and offer 24/7 access. Convenient parking and upscale, creatively designed, smart amenities make our properties a cut above the rest. If you would like more information on our all-inclusive membership agreements and our affordable, flexible private office space, contact us through our website or give us a call: in Houston at 832.827.3999, in Austin at 512.505.0008, and in San Antonio at 210.435.9515.