Lease Agreement Shared Working Space

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Back in the 1980s, the definiation of flexible working space meant having a secondary space that could be used when needed. Today, “flexible” office space has taken on a complete new meaning and the demand for it has grown tremendously in last few years. Driven by the latest advancements in technology, along with new economic and cultural trends, businesses large and small are looking to optimize their real estate portfolios to attract and retain talent and remain nimble in a rapidly changing business environment. Flexible co working space solutions meet this need by coupling lease-term flexibility with highly appealing workplace environments and amenities.

A co-working lease agreement allows a tenant (lessor) to lease office space that is being shared and rented by other companies (lessee). The tenant is often treated as a “member” of the space with their only cost being the monthly rent and no utilities or other fees. The tenant must follow a set of rules related to noise and the number of guests allowed on the property. Depending on the property, the agreement may be written in for a fixed time-frame or on a month-to-month basis. Co-working space also often different kind of services and products depending on the needs of the tenant. For example, shared desks, private desks and private office rooms.

The agreement template provided is a good example of a coworking space lease agreement in which most of the basic requirements and obligations are well defined.

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Rashida Hester(1/17/2022) - DEU

Thank you!

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