Turning Empty Desks into Income: How to Rent Out Your Coworking Space

The coworking revolution has transformed workspaces, offering flexibility and community for freelancers, remote workers, and startups. But what if you’re on the other side of the equation, with extra space in your own coworking haven? Renting out unused desks can be a fantastic way to generate additional income and solidify your space as a vibrant hub. Here’s a guide to navigate the process:

  1. Assess Your Space and Target Audience:
  • Available Space: Take stock of your unused desks, conference rooms, and private offices. Consider offering different membership tiers based on desk type and amenities.
  • Ideal Tenant: Who would benefit most from your space? Freelancers, remote teams, or startups? Understanding your target audience helps tailor your offerings and marketing strategy.
  1. Highlight Your Unique Selling Proposition (USP):

What sets your coworking space apart? Is it the vibrant atmosphere, high-speed Wi-Fi, networking events, or proximity to cafes? Clearly communicate your USP in your marketing materials.

  1. Craft Compelling Membership Options:
  • Hot Desking: Ideal for flexible users, hot desking provides access to any available desk on a first-come, first-served basis.
  • Dedicated Desks: Offer dedicated desks for those who prefer a consistent workspace. Consider locking options for added security.
  • Private Offices: Cater to teams or individuals needing a dedicated, soundproofed area for meetings and confidential work.
  1. Set Competitive Pricing:

Research coworking space rates in your area and consider factors like location, amenities, and target audience. Offer introductory discounts or flexible payment plans to attract new members.

  1. Leverage Technology and Online Presence:
  • Dedicated Listing Platforms: Utilize platforms like Coworking Resources or Deskpass to reach a wider audience of potential renters.
  • Social Media Marketing: Showcase your workspace’s culture and amenities on platforms like Instagram and Facebook. Highlight member testimonials and success stories.
  • Virtual Tour: Create a virtual tour of your space using 360-degree photos or videos to give potential renters a clear picture of the environment.
  1. Foster a Welcoming Community:
  • Organize Networking Events: Host regular workshops, social gatherings, or skill-sharing sessions to create a sense of community and encourage interaction among members.
  • Communicate Effectively: Maintain clear communication channels with renters through email, social media, or a dedicated app. Address concerns promptly and proactively.
  • Amenities Matter: Provide essential amenities like high-speed Wi-Fi, comfortable furniture, printing facilities, and well-stocked pantries. Consider offering additional perks like discounted gym memberships or coffee subscriptions.
  1. Streamline the Rental Process:

Make the rental process as seamless as possible. Provide online applications, clear membership agreements, and secure online payment options.

  1. Prioritize Safety and Security:
  • Clear Access Control: Implement a secure entry system with access cards or key fobs for dedicated desks and private offices.
  • Security Cameras: Install security cameras in common areas for added peace of mind.
  • Clear House Rules: Establish clear house rules regarding noise levels, guest policies, and proper use of facilities.
  1. Gather Feedback and Adapt:

Regularly gather feedback from your renters through surveys or informal conversations. Use their insights to improve your offerings and ensure your coworking space remains a desirable option.

  1. Build Long-Term Relationships:
  • Host Appreciation Events: Show your renters you value their presence by hosting appreciation events or offering exclusive deals.
  • Facilitate Connections: Help members connect with each other by hosting industry-specific events or facilitating introductions based on shared interests.

By following these steps, you can turn your underutilized coworking space into a thriving hub that generates income and fosters a dynamic community for your renters. Remember, a successful rental strategy requires ongoing effort, adaptation, and a commitment to providing a space that empowers productivity, fosters connections, and leaves a lasting positive impression.

This post was written by Tara Kintz. Tara is a director at Signature Workspace which is an office space for rent Wesley Chapel FL. Signature Workspace, owned and operated by Cantor Fund Management, offers services and amenities such as private offices, flex space, co-working space, virtual offices, meeting/conference rooms, and more.


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