Private Offices by the Hour?

Business/Operations
1

Hello,

We are 100% private offices and rent them hourly or 24x7. Is anyone else renting private offices (not larger meeting rooms) by the hour?

We are located in Cleveland right now, so I’m curious if this is being done elsewhere.

Thanks,
Scott

2

If you are able to charge $10/hour or more for a space and maintain 50% or greater occupancy on it, you’re likely making more money on that space than if you were to lease it on a full-time monthly basis. Those are two big IF’s though, and from what I have seen, many operators decide to offer some or most of their space on a monthly lease basis, since that tends to be easier to administer and offers more consistent revenue.

Based on your website, it looks like you have a great industry-focused space and you undoubtedly know your workspace and market better than I do, so I don’t want to suggest that you change your business model, but I thought that I’d share my observations from other shared workspaces.

Best wishes!