Businesses choose to sublease office space for a number of reasons, the most common of which include:

• They bit off more than they can chew and can no longer afford their rent
• They find themselves paying for more space than they need
• They have outgrown a space more quickly than they anticipated

If you’re considering subleasing some or all of your office space in NYC for these or any other reasons but aren’t confident it’s the right choice, we’re here to help. First, take stock of these four questions before you dive into the world of subleasing office space so you can know for sure that you’re making a smart business move.

1. Will it make you money?

Some businesses may be surprised to learn that they can actually turn a profit by subleasing their unneeded space. This is particularly true if your office space is in an up and coming neighborhood and the office size is more than you can occupy; most commercial leases last for several years at a time, so an area that was less expensive two years ago could be undergoing a period of revitalization now. Of course, you can also make money through subleasing if another business is in particular need of a space on short notice.

Do your due diligence before settling on subleasing your space. Check on what similar spaces are renting for in your area, and contrast that potential income with what you’re losing in rent each month. You can also do some research on whether office space in your area seems to be in high demand. If the math works out, it’s probably a good idea to dive into subleasing. Finances are always a tough line to tow, so if giving up some extra valuable NYC office size makes them a little less tight, why not go for it?

2. Do you have a sublessee in mind?

The process of subleasing is made much easier if you already have a sublessee that you trust on the hook. In a subleasing situation, you will usually still be responsible for any damages to the space since it is still your name on the original lease. Although you technically aren’t occupying it, you’re the only one that the landlord can hold legally accountable should anything happen to the office.

Consider whether or not you already have concrete interest in your extra space from someone or some group that you trust. If not, you don’t need to count yourself out of the subleasing game just yet. Since you’re subleasing a commercial space, tenants are generally more careful with the way that they treat it, and you always have the option of including a section about sublessee accountability for damages in the sublease agreement. It’s pretty unlikely that you’ll run into a situation where a business doesn’t take care of the office space they sublease from you, so while having a tenant in mind makes subleasing easier, it’s certainly not absolutely necessary.

3. What is your relationship with your landlord like?

Landlord-tenant relationships aren’t quite as tricky as they’re made out to be, particularly in the commercial arena. Most of the time, as long as you pay your rent and respect your lease, landlords will be willing to work with you if you decide subleasing is a good move for your business. Just take note that landlords have more legal recourse than you might realize, built into a lease, so if your relationship with your landlord is less than stellar, they might be able to stand in the way of your subleasing efforts.

The reality is that most landlords who own office space in NYC are too busy to nit-pick over you making a small profit off of a sublease, particularly if you’ve always been a good tenant. All of this is to say that if you and your landlord maintain a positive working relationship, have no reservations taking on a sublessee!

4. Will you still be occupying part of the space?

Assuming that you will just be subleasing some of your unused space and not moving out of the office entirely, consider the logistics of another company moving in alongside yours. Questions about common areas, parking spaces, and even office culture should be things you address prior to finalizing the sublease. So long as you find a sublessee with whom you find common ground, you may actually find that you enjoy the change of pace working near another team.

Subleasing Step-By-Step

Once you decide that subleasing is a shrewd move for your business, you can get down to the nitty gritty of subleasing office space. This process will include a number of steps. Each deal is unique, but the following are the most common elements:

1. Consult both your lease and your landlord to make sure subleasing is allowed
2. Search for suitable tenants and developing a screening process
3. Establish what you want to charge
4. Create an agreement that covers the details like utility payments and rent due dates, then having that agreement checked by a legal professional

Each of these steps is crucial, as they protect you from winding up in an uncomfortable or costly situation. After you’ve taken the time to conscientiously walk through the process, you’ll be ready to sign the agreement and kiss your unused space goodbye.

Boost Income and Eliminate Excess With a Sublease

Subleasing can be an ideal situation for maximizing profits or simply cutting down on wasted space. There’s no reason to let all of that extra room just sit and collect dust—set yourself on the path of subleasing your office space. Just make sure you take a little time to consider the logistics first.

Luckily, you have a friends at PivotDesk who are willing and able to help at each step of the way. Feel free to reach out and we’ll help guide you in subleasing your office space.

Neighborhood: SoHo
Host: Flavorpill

The Office: Flavorpill knows what they’re doing when it comes to office decor. With a perfect mix of trendy and comfortable, it is no surprise companies are flocking to this space. Even the conference room and kitchen are designed to perfection!

The Host: Flavorpill Media is a digital publisher and agency. Their team publishes sites and email newsletters focusing on culture and creativity — so you know they know what they’re doing when it comes to their work environment.

This office is one of a kind, and provides a rare opportunity to share space in such a trendy office.

Neighborhood: Midtown
Host: RWI Design

The Office: The semi-private desks, fully equipped conference rooms and natural lighting have been a huge attraction for this office. The decor is simplistic and calm, making for a top notch work environment.

The Host: RWI Design is a small team of graphic designers who have a knack for technology and creativity. They are fully engaged as a team so the atmosphere in the office is an exciting but hard-working one. With a full team constantly collaborating and engaging with each other, it makes for a lively and exciting atmosphere for people to get things done.

Extra desks in this space are currently going unused, and RWI Design would love to add some additional energy into the office!

Neighborhood: Williamsburg
Host: MarketSmiths

The Office: Based in a revamped architectural studio in Williamsburg, this space sits in the midst of a local restaurant revolution. This space is a minimalist’s dream with clean designs, neutral colors and warehouse feels.

The Host: In true Williamsburg fashion, MarketSmiths is a team of extra creative copywriters who enjoy a fun and casual office vibe.

Since they currently have excess space, they are looking for lively individuals (or a team) to share with.

Before we jump into why, let’s discuss exactly what we mean by the term “introvert.”

Different energy sources

Often, people conflate introversion with shyness, but that’s not always accurate. Introverts aren’t necessarily shy. Shy people feel uncomfortable interacting with others and may feel anxious in various social situations.

Introverts don’t necessarily dislike interaction; they just need some down time between to recharge. Introverts gain energy in solitude and quiet, while extroverts get energy from interaction and socialization.

Introverts: they’re everywhere

It’s estimated that 1/3 of the population are introverts, so it’s likely that if you’re not one yourself, you work with more than a few. They can be tricky to spot, but generally they’re reserved, and prefer to think things through and observe rather than dive into interaction. This can be a great personality to have in a coworker. Research indicates that they might work better in groups than extroverts do. Your boss may even be an introvert; about 40% of managers are, according to USA Today.    

Introverts in open-office environments

But working well with others is not the same as functioning in a noisy environment throughout the day. Experts agree that an open office with constant activity and interruptions is not ideal for introverts. In fact, the open office environment is considered by many to be an “introvert’s worst nightmare” and “devastating for introverts”. While these descriptions are pretty dramatic, it is certainly true that performance can suffer when introverts aren’t able to find some quiet time to recharge.

Why office sharing can work for introverts

In a shared office arrangement, introverts and others have the power to select the office environment that suits their company culture and individual working style. While a single desk in an open office is certainly an option, office sharing can also mean a private suite of rooms for your team’s exclusive use. At PivotDesk, our marketplace includes the full range of office layouts, so you have the option to get the benefits of shared space in a space that’s most productive for you—whatever that may be.

The positives of sharing space—like collaboration and the free-flowing of ideas—appeal to introverts just like they do extroverts. They just need to be able to find space for quiet, focused work throughout the course of the day. Often, office sharing through a service like PivotDesk provides introverts the opportunity to personalize their space and control their work environment—more so than they could in a coworking arrangement.  

Needless to say, introverts need not fear office sharing.

A PivotDesk series that goes inside the minds and the offices of business leaders who are redefining the modern workforce.

Part 1: FreshPlanet CEO and PivotDesk Host, Mathieu Nouzareth

Join us as we dive deep with Mathieu on being a CEO, a Father, a Parisian and what it takes to lead his team as they take the social gaming craze by storm.

Interview Highlights:

Paris v. New York

Having been born and raised in Paris, Mathieu highlights some of his favorite aspects of Paris and his perspective since moving to the states.

>> 1:00 Mathieu’s appreciation of Paris after years as a New Yorker

>>  2:25 See why Mathieu made a conscious choice to raise his children in the US instead of Paris

The relationship between being a CEO and a father

Mathieu has experienced extreme highs and lows in his time as a CEO. A lot of those emotions translate into fears of supporting a family and staying grounded as a parent while being completely unsure of the future of his business. His focus of teamwork and community are similar in his business and within his family.

>> 5:10 Mathieu discusses shifting his focus when it comes to his team, his family and his ego

>> 6:50 Hear Mathieu express some honest feelings of failure

Company culture and the office

Initially when the company took off, Mathieu found himself and his team cramped in a small office in time square. As the business took off, the team needed space to grow — and this time around, Mathieu would help the team take a completely new approach to their work space.

FreshPlanet hired an architect to ensure their office would properly represent their company. From the very beginning they made the decision to rent a space with space to grow into. To cover costs, the team decided to build out a section of the office that would be reserved for office sharing.

>> 10:00 Mathieu takes us through his thoughts on developing the new office and what it takes to turn a massive investment like office space into a positive return.

Want more honest stories from top CEOs? Subscribe below and get Behind the Walls directly to your inbox!

If you’ve spent much time in the business world, chances are you’ve had this experience on more than one occasion.

It can lead to frustration and the desire to give up on networking all together.

But if you’re smart, you won’t.

After all, networking is absolutely vital to both your personal success and the success of your business. Research has shown that personal networks have been behind nearly every major breakthrough in science, philosophy, and the arts. But when young companies are grappling with all of the challenges that come with growth, it can seem that there’s no time to focus on making professional connections and often networking falls to the wayside.

But expanding your professional network does not have to be time-consuming, especially if you are able to incorporate networking into your daily office routine. 

Here are some reasons office sharing is sure to boost your network, without wasting your time.

#1: Customizing your experience

While many associate coworking spaces with networking, few people realize how effective working in shared office spaces can be for establishing connections and collaborating with other entrepreneurs. And while coworking is sure to expose you to a wide range of personality types and industries, it can be difficult to customize your experience and in most cases, you’ll have little control over who your neighbors are. With office sharing, on the other hand, you have complete control of who you are sharing space with, making it easier to network with the right people. By booking space at a company within the same industry, or with a company you see as a future partner, you’re creating vital connections that can be a boon to your business.

#2: Keeping it casual

There’s nothing more awkward than approaching a group of strangers and trying to strike up a productive conversation when you have no context for what they do. In most cases, you’ll probably find yourself looking for a way to exit the group in a matter of seconds. But by networking with the people in your workspace, you’ll rarely need to scramble for a conversation starter. Working side by side with other businesses, gives you a glimpse into how others work, while still allowing you to enjoy your own space and privacy. Casual networking encounters are common when the pressure is off and you’re interacting in a comfortable environment. 

#3: More than just a water cooler

More and more host companies are adding beautiful spaces to the site each day, complete with amenities that promote collaboration and fluid conversation. Amenities like coffee bars, lounges, and even gaming rooms provide an opportunity for workers to step away from the desk into a common area. This creates interaction, and can make you aware of experts right in your office who can inspire you. This can boost creativity and productivity for both parties, and is the result of serendipitous conversation in a common space.

#4: Getting social

Often, host companies choose to begin office sharing as a way of infusing energy into their space. One of the main ways we see host companies achieve this, is by including guest companies in seminars, office parties and events. These are convenient and informative, and they bring together the people who work in the space and get them talking. If you’re interested in working in a collaborative environment like this, try talking to various host companies about their office vibe and whether they plan on including their guest companies in office programming. 

Fully exploiting the advantages of office sharing includes expanding your professional network, so it’s important to know some basics about the host company when you choose a place. Spending the workday surrounded by people who have experience and expertise to share is a huge bonus to growing companies.

In their piece titled, Digging Deeper: What Coworking Tells Us About The Future of Commercial Real Estate, Amol Sarva and Jayson White predict that the shifts we’re seeing in businesses seeking flexibility over traditional office leases are merely, “The tip of the iceberg for an incredible wave of change coming to the commercial real estate industry.”

They posture that businesses are taking a tip from freelancers and independent contractors and choosing flexible options like coworking and office sharing as a way of savings money and reducing risk:

“From large companies to fledgling startups, the emerging office customer will increasingly seek flexible work environments that can offer more than just a desk. The key here is to consider the decisions smaller freelancers are making about coworking; they represent what major tenants and corporations are also starting to choose upstream. Employees are now shaping the way companies go about buying real estate and office space: from the ground up.”

Let’s take a look at some of the reasons more and more businesses are going the way of the freelancer and opting for flexible office space solutions…

More bang for your buck

Premium space on 5th Ave. with Iridium Consulting.

It’s easy to see why businesses are shying away from traditional leasing — typical rents in New York are over $70 per square foot, but shared office space can easily cost half that, without extra overhead expenses like cable/internet, cleaning services and other utilities.

Yet, it’s not JUST about saving as much dough as possible…

We’ve found that PivotDesk customers, are happy to pay for premium shared space, knowing that they will still come out ahead in terms of cost. And firms that would have to settle for economy digs in a traditional lease agreement are finding that they can afford a higher-level shared property.

The median price of a booking this year is 75% greater than last. This partly reflects the general rise in office rents throughout the market, but it also indicates that our clients are tending to book more high-end listings.

This increase in the average prices paid for shared space also says something about the types of firms that are giving office sharing a try. While our clients were once primarily small startups and even individuals, we are now seeing more interest from larger, more established businesses. In fact, over the last year, larger businesses have come to make up 22% of our bookings and we continue to see that % increase.

So, larger companies, with larger budgets, are beginning to see the benefits of office sharing and are taking part in greater numbers. These companies are able to pay for premium space and still save money over traditional lease agreements.

Flexibility will set you free

Sleek space without the commitment at Circulate.

As Sarva and White point out, businesses are wising up to the importance of making agile real estate decisions:

“Young businesses need to be nimble in order to succeed. Being stuck in a years-long lease is a nightmare for companies with hopes of scaling up or moving elsewhere. Even a five year lease can be too long for many larger companies. Convoluted leases with hidden catches can also be a problem.”

Many firms choose office sharing in order to buy time to build their company culture and assemble a stellar team. Without the commitment, fees, and upkeep associated with a commercial lease, firms can invest their capital in staff and in customer service. The money saved over leasing allows firms to hire top employees, while a well-appointed workspace helps attract those employees in the first place. They’re able to find space that fits the image they have for the company, often in more stylish and well-equipped locations than they could consider securing through a traditional lease.

More established companies can benefit as well, setting up in high-end space without high-end expense. You don’t have to compromise on style to find affordable office space.

That may have been the case in early days, but office sharing has evolved. Host companies are often growing companies that have leased more space than they currently need with an eye toward future growth. They’ve found a space with the location and style that’s ideal for their firm, and are offsetting costs by sharing excess space.

To demonstrate this idea, we’re profiling 3 of our PivotDesk postings in New York City that exemplify the modern workplace. With office sharing, young companies can move into excellent spaces likes these in the most desirable locations at a fraction of the cost (and risk) of a traditional lease.

FiftyThree

Located in the iconic Western Union building at 60 Hudson Street in Tribeca, FiftyThree’s 18th-floor offices offer an impeccably-designed, bright, and quiet space to create. Their office features plenty of standard-height desks and standing desks. And this company takes amenities seriously, featuring WiFi and wired internet, nine conference rooms with advanced A/V capabilities and IdeaPaint whiteboard walls, printing and a kitchen with healthy snacks. Plus security is never an issue as this office has a 24/7 guard.

FiftyThree is well known for their productivity apps including Paper and Pencil and is an award favorite of Apple, IDSA, The Edison Awards, and IxDA. Want to join them in their trendy TriBeCa space? Learn more here.

Crowdtap

Located at 625 Broadway, Crowdtap is nestled in the heart of NoHo. Guests who choose either private or collaborative space, get a ticket into the NYC tech scene without the outrageous price tag. The 8,000 square foot space offers guests a doorman lobby, reception area, lounge area, two large private conference rooms, nine private offices, a large kitchen, storage space and restrooms. With plenty of space available, teams can put down roots in a beautiful office and focus on growth not office space logistics.

Crowdtap partners with great brands like McDonalds, Neutrogena and Aveno to offer members opportunities to provide feedback, be creative, and get rewards & free sampling. They have been named one of the best companies to work for by Crain’s and Mashable. Want to join them in their sleek NoHo space? Learn more here.

Marin Software

Located at 215 Park Ave South, Marin software’s massive 12,000 square foot space sits just northeast of Union Square Park. The office features a large, open floor plan with huge windows, seven (yes, SEVEN) conference rooms plus numerous call rooms, and a lounge complete with a ping pong table. Guests get to mix fun with work in the highly professional space.

Host company, Marin Software is a seasoned digital marketing and enterprise software firm that provides an integrated cloud for search, display and social advertising while helping digital marketers improve financial performance, save time, and make better decisions. Want to join them in their massive Sillicon Alley space? Learn more here. 

In turn, the market is delivering on that need. More and more flexible workplace services — from coworking to office sharing in all shapes and forms — are cropping up.

The commercial real estate scene and our expectations of it are shifting, that much is clear.

What’s not so clear is just what options are available to those of us who want a flexible alternative to a traditional lease or sublease.

Many companies that aren’t ready to sign a traditional lease for whatever reason, are often advised by brokers or business mentors to protect their businesses by choosing flexibility over commitment in the form of office sharing or coworking.

The terms, “coworking” and “office sharing” are used interchangeably, but this practice hides the fact that these are distinctly different approaches to the workplace, each with its own features to offer.

So, how do you choose?

While both are great for allowing you to try out different solutions without making costly commitments, it’s best to educate yourself on your options to avoid wasting time.

So, let’s dive into your two most common flexible office space options — office sharing and coworking — and identify the key differences.

Definition

The first step in understanding anything is to define it.

→ We characterize a coworking space as:

A coworking space is an office that exists for the purpose of housing independent workers or workers from different companies in need of flexible office space.

The key points here are a.) The goal of the coworking space itself is to profit on the workers using the space and b.) the workers within the space are working independently of one another.

In a coworking environment it is possible that every person in the space may be working independently from anyone else and may have completely different priorities and timelines. In fact it is quite possible to see new people each day in a coworking space.

→ Shared office space, although similar in concept to a coworking space, is defined differently as:

A space that is leased to a specific business (a host company), that in turn makes extra space available to others (guest companies) who are in need of flexible, yet professional office space.

The key point to note in this definition is that while the space is owned/leased by one company, as with coworking, that company does not exist for the purpose on making money through office sharing. Rather, growing companies often select properties with more than enough space with an eye toward future growth and then become host companies. Hosts are typically established in the space, it has a stable atmosphere and continuity, and there is space available for others at a very affordable rate. It provides flexibility for both the host, which can offset leasing costs with office sharing profits, and the “guests”, who can secure the space they want without committing for the long term.

The terms

This ability to avoid a long-term lease is a benefit of both coworking and office sharing. Even if you’re willing to sign a lease, it’s often nearly impossible to find a small space at affordable rates. A coworking or office sharing approach can be an ideal solution for young companies that need to conserve capital for hiring the best talent. It gives time for growth and development.

There are differences in how these deals are structured.

→ In a coworking situation, tenants can often have the option of leasing space hourly. Some coworking spaces include seminar rooms that can be used for one-time events, as well as workstations that people use on a daily, weekly, or monthly basis. There is tremendous variation as the nearly 2000 coworking sites worldwide strive to meet their clients’ needs.

→ Generally speaking, you can expect more structured terms in an office sharing arrangement. This type of space is geared toward allowing you to develop your company culture and grow the business, all without locking you into a long-term lease. Office sharing offers a range of options in terms of space – if your company needs private offices, those are available. You can choose the neighborhood and the office culture that suits you. The office sharing arrangement has benefits for both businesses, including a more consistent work environment.

The work environment 

→ The key difference in work environment between coworking and office sharing is level of customization. In a coworking space, it’s typically up to you or your businesses to fit into the culture and dynamic already established by the coworking organization. If you find a space that has a vibe that works for your business, then you’re in luck. But if you find a space that needs tweaking, you’ll likely be disappointed.

→ With office sharing, on the other hand, you’ll be able to customize your workspace as much as your host company will allow. And in many scenarios, your host will WANT you to be as comfortable as possible in the space, and therefor will let you make the space your own. Often guest companies display their logo on the entryway or even bring in their own art and office furniture.

The main manifestation of this difference is in how well your company is able to cultivate culture in the space. In a coworking environment, many companies like IRIS.TV for example, find that it’s difficult to maintain a culture apart from the coworking space. At a certain point, you really need to establish your own work dynamic. When you reach this point, office sharing will likely be your best bet.

Why? Because your product roadmap might cover what you work on as organization, but your company culture determines how you work as an organization.

And we’re not just talking about implementing sweet employee perks like free beer, ping pong or company ski trips — although none of those hurt!

Based on what we know about it, company culture is much too important to leave to chance. Experts agree that a strong corporate culture does the following for an organization:

1. Helps to distinguish it from competitors

2. Improves productivity and engagement

3. Helps attract and retain talent

At PivotDesk, we believe cultural values need to be adhered to from the top down, meaning if the leadership team doesn’t take them seriously, no one will. As PivotDesk CEO, David Mandell put it at a recent panel on revolutionizing company culture:

“A leader must act the way in which they would like their company to behave.”

Then, these values and behaviors will trickel down to positively impact customer service and overall progress toward the company’s goals.

There’s no doubt that the physical office a business inhabits has an impact on culture as well. Whether your office tends to be the heads-down, quiet type — or more of a raucous, collaborative space, your office vibe set’s the tone for your company culture and affects who will and will not work well with your team.

This is a tangible representation of the culture, and instantly conveys information about priorities, procedures, and interactions in the company. Potential employees are looking for a workplace that fits them personally –and this is a good thing, since a sense of connectedness and belonging is shown to enhance job satisfaction and productivity. A workplace that accurately reflects and nurtures the company culture is an essential tool for communicating the organization’s values and goals.

But what about those of you that have embraced the growing trend of office sharing — meaning you share your excess space with another team or teams as a host OR you’re a guest in another company’s space — how is your company culture affected by this arrangement?

Office sharing can actually be an excellent way you nourish your company culture. But don’t take our word for it! Find out how Emerson Stone built their company culture in a shared space. 

Here are the top ways office sharing helps you make the most of your office environment, no matter what your set-up is:

Awesome amenities

When you share office space using PivotDesk, typically the host and guest share access to all office amenities, including conference rooms, kitchen space, parking and WiFi. Access to top office amenities can boost job satisfaction and create a positive and stimulating environment. Many early-stage companies fear they’ll have to sacrifice access to pricey perks such as lounge space, copy machines or high speed internet, but with office sharing it is part of the deal.

Networking when you want it, privacy when you don’t

Making connections has always been essential to success in pretty much any field, and office sharing provides unique opportunities to interact with professionals outside of the firm. This creates an environment that inspires and informs. The millennial generation holds personal networks and connections to be an essential piece of their professional lives, so office sharing helps to create the type of environment that they desire.

Often coworking forces companies into a non-stop networking scene. With office sharing, you’ll be able to select the office environment that works best for your team so you can have networking when you want it and privacy when you don’t.

Office space where you want it

In addition to connectedness, millennials place considerable emphasis on location, preferring to work in city centers. These desirable locations are convenient to transportation options as well as the things that make cities great — dining, culture, parks, and entertainment. They are also generally priced at a premium in a traditional lease. By sharing available space in top locations across the country such as New York City, San Francisco and Boston, smaller or younger organizations can obtain digs that reflect their desired image, at a fraction of that cost.

Growing companies can’t afford to wait when it comes to developing their unique culture. Office sharing can play an important role in creating a workplace environment that helps the organization to thrive.

Check out our office sharing services to find the setup that works best for your team, or become a host.

Office sharing is on the rise, especially in locations like NYC and San Francisco where the cost of commercial real estate remains astronomically high, in large part due to demand driven by startups and other SMB’s scrambling for office space. Since starting PivotDesk in 2012, we’ve helped companies in NYC save $3.3 million on office space costs by sharing their unused space. That’s REAL money. In one shining example, host company, Techstars NYC has made over half a million dollars using PivotDesk to share their unused desks. 

With many notable “unicorns” faltering, and experts beginning to foresee the burst of the current tech bubble, it’s no wonder smart businesses are re-thinking their office space spend. We’ve seen demand for shared office space more than double compared to the beginning of 2015.

Often, we focus on stories of guest companies finding their ideal office space with PivotDesk, sometimes in less than a day — but what about the host companies? We’re doing a deep-dive on the perks of office sharing for those companies that choose to make the most of their office space spend by sharing unused desks on our site.

Chicago’s Piece & Co. boasts bright, sunny workspaces with tons of amenities.

Why it works

It’s pretty simple: Office sharing has tremendous benefits for businesses seeking to build agility into their business plans so they can concentrate on growth. Flexibility, cost savings, and reduced risk make it a great option for companies of all types and sizes. Host companies like Piece & Co. featured above, benefit from making money on their excess space while remaining in complete control over who is in their space and when. And if a host needs their space back, all they need to do is give 30 days notice.

If color is your thing, check out FreshPlanet in NYC.

How it works

Often, shared office space services are offered by companies that have leased a space that is larger than they need — which is very common among growing businesses. No one wants to move every 6 months!

Other companies experience downsizing or restructuring and suddenly find themselves with empty desks. Whatever the reason, it’s never ideal to be saddled with the costs of leasing space that’s not being fully utilized. Office sharing is a way for these firms to offset their costs by hosting other companies or individuals in the space.

Of course, there are a number of ways to make money back on unused space, from emailing your network to working with a broker to sublet empty space —  but we’re a bit partial to our own service…but only because it works so well for businesses of all sizes and phases!

Sharing space on the PivotDesk platform is designed to be incredibly simple and efficient — think of it as a stand-in office manager. Posting your excess space on the site can be done in a matter of minutes, from there, we’ll help match your space with potential guest companies. Guest companies request tours before booking, so you always have control of who gets to share your space. When you’ve finished vetting potential guest companies and you’re ready to book — we take care of contracts, monthly billing and deposits. 

NYC host, Loverly is looking for like-minded companies to share their Chelsea space.

The proof is in the numbers

The idea has really caught on, and hosts are reaping benefits from the office sharing model. Host companies on our platform are making more with PivotDesk than ever before — we’ve already seen a 23% increase in booking value in 2016 compared to early 2015.

And as more and more businesses are realizing the benefits of flexible office sharing, demand for space has continued to increase, especially among larger companies, which now make up 22% of our bookings. As such, it’s not unusual for hosts to earn $40,000 a year or more, just for filling unused space in the office. 

So it would appear that the word is out. Not only is office sharing a boon for companies looking for affordable space without long-term commitments; it’s also a great option for the host companies. 

The only question left to address is, what are you waiting for? Share your space here.