Barbara makes great points.
We're investigating a similar arrangement in our small town of Hinesburg,
VT (population 4,800). In our case, the current tenant has reduced
headcount and wants to monetize the extra space. Given the small market,
finding the right subletter will be a challenge for them, so, we're
planning to propose a revenue share model - they generate income that goes
right to the bottom line as we fill the space and we cover costs of
programming and other things. Most importantly, we're not signing a lease,
which is the biggest risk in small rural markets.
That said, having a clearly defined "Operational agreement" will be
crucial, kitchen responsibilities, noise levels, access hours, etc. even if
the spaces are somewhat separated. In our case, there's a lot of overlap,
so part of what we do will be creating space for the employees and our
members to connect - and - offering our programming to the employees as an
added value to the agreement.
On Saturday, March 10, 2018 at 10:43:50 AM UTC-5, Julia Ferguson wrote:
> We were approached by a local company who recently moved into a really
> cool old industrial building and signed a lease for more space than they
> need. They've offered us a sublease of half the floor (about 4000 sq ft),
> which is nicely divided from their space by a wall. On most days they only
> have 5-10 people in working, so our 46 (and hopefully growing) members
> would significantly outnumber them. Our members would walk through a shared
> hallway, then turn left into our space so they would not have to walk
> through the other company's workspace to get to ours. The representative we
> are talking to says they are open to just about any financial arrangement.
> It almost seems too good to be true - almost. We currently own our building
> and the entire building is used by our coworking community, so this would
> be a big change. We're concerned about a loss of identity from being in
> someone else's space. We also not used to having to check with others when
> we want to do something to our space. Has anyone done anything like this
> and, if so, can you offer some pointers?
> Julia Ferguson
> Cowork Frederick
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