CHAPTER 23 The Pros and Cons of Shar os and Cons of Shared Space ed Space Agreements Shared space arrangements or coworking spaces are growing in popularity. They are quicker, flexible, and a good alternative option to traditional office space and long-term leases. There are a few things to take in when considering this type of space. It can be very beneficial to your company in the right situation, but there are some serious drawbacks to those benefits that you need to know about. These spaces are usually in large office spaces that are broken down into cubicles, conference rooms, offices, and other common areas. They can be shared by multiple companies who use portions of the cubicles and share the common areas with the rest of the tenants. The space isn’t broken down separating user’s spaces from each other, there’s just a certain amount of working space inside the office. It’s almost always fully furnished and fully operational, so tenants just need to show up and bring their own laptop or computer. Most of these require a license instead of a lease. The license is like a lease in some ways, but shorter and a product of contract law. It will grant the tenant a contractual right to enter and use the space. You don’t get the benefit of landlord or tenant law with this and it can be revoked and terminated, with 30 days notice usually. You don’t need to be evicted for that to happen. Simply put, there are almost no protections.
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