Are you making the right assumptions about what financial information your coworking operator should be giving you? Most landlords aren't.

In this episode of Flex in Five, Mike Kriel breaks down what a complete financial package from a coworking operator should look like, why the variance report is the most critical piece, and what a good operator should be able to tell you before you even ask a question.

If you own a building with a coworking operator or you're thinking about bringing one in, this episode will change how you evaluate the reporting you're getting.

If you want to learn more about how management agreements work and what to look for as a building owner, download our Commercial Landlord's Guide to Flexible Office Space. It's 50+ pages built for landlords exploring flex:

https://launchworkplaces.com/landlords/

---------------------------------------------------------------------------------------------------------------------------

Connect with Mike

https://launchworkplaces.com/

https://www.linkedin.com/in/mike-kriel-a43994/

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About Flex in Five with Mike Kriel

How do you make money in the flexible workspace industry? Mike Kriel, CEO of Launch Workplaces, breaks down the opportunities, trends, and strategies that are working right now, in five minutes or less.

Honest and unfiltered, each episode tackles one focused topic, from what's working in coworking to emerging opportunities for commercial landlords, brokers, developers, and operators.

Drawing from real-world experience and conversations across the industry, Mike delivers actionable insights designed to help you grow your piece of the pie in this ever-evolving market.

🔔 Hit subscribe to make sure you don't miss an episode.

Want to learn more about how to add a profitable coworking operation to your building? Download our free eBook: https://launchworkplaces.com/landlords/

In 13 years of opening coworking locations, Mike's seen one thing kill more deals than anything else. It's not the agreement. It's what happens after you sign one.

There's a void between picking an operator and opening your space, and that void is where most landlords get caught off guard:

• What does it cost to get your space to the operator's standard?
• How long will it take?
• What return can you actually expect once it's done?

The way to work through it is to walk the space together, office by office, wall by wall. Ownership prices out the work. The operator builds a pro forma based on the same walkthrough.

Then you put both numbers together and ask the honest question:

Is this worth doing?

Most of the time, the capital requirement is a fraction of a market deal. But the ones that fall apart are always the same story: expectations that were never grounded in reality, discovered too late to do anything about it.

If you want to learn more about how management agreements work and what to look for as a building owner, download our Commercial Landlord's Guide to Flexible Office Space. It's 50+ pages built for landlords exploring flex:

https://launchworkplaces.com/landlords/

---------------------------------------------------------------------------------------------------------------------------

Connect with Mike

https://launchworkplaces.com/

https://www.linkedin.com/in/mike-kriel-a43994/

---------------------------------------------------------------------------------------------------------------------------

About Flex in Five with Mike Kriel

How do you make money in the flexible workspace industry? Mike Kriel, CEO of Launch Workplaces, breaks down the opportunities, trends, and strategies that are working right now, in five minutes or less.

Honest and unfiltered, each episode tackles one focused topic, from what's working in coworking to emerging opportunities for commercial landlords, brokers, developers, and operators.

Drawing from real-world experience and conversations across the industry, Mike delivers actionable insights designed to help you grow your piece of the pie in this ever-evolving market.

🔔 Hit subscribe to make sure you don't miss an episode.

Want to learn more about how to add a profitable coworking operation to your building? Download our free eBook: https://launchworkplaces.com/landlords/

Not every management agreement with a flex operator has to be a 10-year deal. In this episode of Flex in Five, Mike Kriel breaks down why shorter-term agreements (24, 36, or 48 months) can be the right fit for landlords trying to fill a vacancy gap, reposition a building, or bridge a transition.

What you'll learn in this episode:

• Why the 10-year assumption is costing landlords real opportunities
• How to talk to operators about shorter timelines without losing leverage
• Why automatic extensions protect both sides of the deal
• How to get your internal team aligned before you reach out

Want to go deeper? The Commercial Landlord's Guide to Flex is 50+ pages of insight from both the operator and landlord sides.

Grab it at https://launchworkplaces.com/landlords

---------------------------------------------------------------------------------------------------------------------------

Connect with Mike

https://launchworkplaces.com/

https://www.linkedin.com/in/mike-kriel-a43994/

---------------------------------------------------------------------------------------------------------------------------

About Flex in Five with Mike Kriel

How do you make money in the flexible workspace industry? Mike Kriel, CEO of Launch Workplaces, breaks down the opportunities, trends, and strategies that are working right now, in five minutes or less.

Honest and unfiltered, each episode tackles one focused topic, from what's working in coworking to emerging opportunities for commercial landlords, brokers, developers, and operators.

Drawing from real-world experience and conversations across the industry, Mike delivers actionable insights designed to help you grow your piece of the pie in this ever-evolving market.

🔔 Hit subscribe to make sure you don't miss an episode.

Want to learn more about how to add a profitable coworking operation to your building? Download our free eBook: https://launchworkplaces.com/landlords/