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/

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

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/

Property management companies need flexible office space in their toolkit, and most of them don't have it yet. In this episode of Flex in Five, Mike Kriel breaks down why the largest firms in the country are already integrating flex management into their business and what regional and local property managers need to do before they get left behind.

He discusses:

• Why the biggest brokerage and property management firms have already made this move
• What building owners are actually asking their property managers right now
• How coworking operators and property managers can integrate to create more value together
• Why there's still blue water for regional firms who move first

Want to learn more about how flexible office space can work for your building? Reach out at launchworkplaces.com or connect with Mike directly on LinkedIn using the links below.

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

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/

The most important part of a management agreement is the exit, and most building owners don't figure that out until they're stuck. In this episode of Flex in Five, Mike Kriel breaks down the four exit rights every landlord needs before signing a management agreement:

1. Termination for cause
2. Termination without cause
3. Free will termination
4. Sale of the building

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/

Your building survived. Now, how do you make it more valuable tomorrow than it is today? In this episode of Flex in Five, Mike Kriel breaks down what the "perfect building" looks like in today's market — and why you should think of it as an ecosystem that feeds itself.

He's talking you through what every competitive office building needs:

• Flexible workspace, from hot desks to enterprise-level space
• Plug and play spec suites (not white box, but actually move-in ready)
• Prime tenants with a range of sizes and lease terms
• Amenities that are useful, not just present
• A coworking operator, leasing team, and property management team that are all on the same page

If you want to learn more about how coworking can help boost the value of your building, download our Commercial Landlord's Guide to Flexible Office Space. It's 50+ pages of insights like the one I talked about today:

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.

Want to learn more about how to add a profitable coworking operation to your building? Download our free Commercial Landlord's Guide to Flexible Office Space: https://launchworkplaces.com/landlords/

You just got a letter from a coworking operator saying your building would be their best location ever. Flattering—but what do you actually do with that?

In this episode, Mike breaks down how building owners should evaluate a coworking operator who comes knocking—the questions to ask, the red flags to watch for, and why you should never stop at one conversation.

In five minutes, you'll learn:

• The one question every landlord should ask a prospective coworking partner
• What a credible operator's due diligence actually looks like
• The red flag that should end the conversation
• Why cultural fit matters more than you think

If you want to learn more about flex as an opportunity in your building, download our Commercial Landlord's Guide to Flexible Office Space. It's 50+ pages of insights like the one I talked about today:

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.

Want to learn more about how to add a profitable coworking operation to your building? Download our free Commercial Landlord's Guide to Flexible Office Space: https://launchworkplaces.com/landlords/

What does a coworking operator actually look for in your building?

In this episode, Mike breaks down Launch's proprietary 12-point evaluation system. This is the weighted criteria we use to determine whether a building is set up to succeed with flexible workspace.

From competition proximity to amenity activation, capital strength to tenant mix, this is the same scoring system Launch has used for 10 years to predict financial performance.

The 12 points are:

1. Proximity of competition
2. Quality of competition
3. Professional management services
4. Entrepreneurial strength and mindset
5. Capital strength
6. Risk tolerance
7. Building class
8. Operator alignment with building class
9. Parking
10. Amenities in the building
11. Activation of those amenities
12. Vacancy and tenant stack

How do your business and your building stack up against these criteria?

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

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.

Want to learn more about how to add a profitable coworking operation to your building? Download our free Commercial Landlord's Guide to Flexible Office Space: https://launchworkplaces.com/landlords/