Service Description – This part of the agreement shows what the tenant is entitled to – a floating desk, an office suite, a custom buildout, etc. It also details what services and amenities are included in the agreement, such as WiFi Internet, receptionist services, conference room and others. Home “Signing a co-work agreement on space? Think of these points! A co-working workspace is more than just providing a quality workstation. Make sure your agreement contains details of seating, Internet speed, download limits, access to the meeting room, etc. Disputes with users usually arise with respect to additional users, temporary interns, etc., so it is best to have hidden everything in advance. Users expect you to keep your promises and will be willing to have plans to satisfy your users. Some users may demand penalty clauses for non-compliance with any of the terms, so negotiate hard. As work in a co-working space in India begins to gain popularity, some confusion remains about how the agreement works. Where some argue that the co-working agreement is similar to that of a lease, some argue that it is exactly like the conclusion of a lease. The short answer to this question is no. Coworking is not regulated by the state real estate commission, mainly because it does not have longer contracts and significant prior costs, often with traditional leases.

For both a landlord and tenant, coworking space is much less risky than traditional office space where a person who does not participate in the agreement leaves the space without a lengthy legal process. It also means that customers don`t need to cooperate with a licensed broker to search, negotiate and move to a flexible workspace. Read also: Legal Conditions for the Launch of a Coworking Space The main advantage of a coworking contract is that it is more economical and more flexible compared to a commercial lease. It should, however, include clauses that reflect the community character of common spaces and help create a positive working environment and enhance performance. Billing and Payment – A summary of the payment transaction, the parties involved and any services that could be billed for a fee. For example, timeable and printable services for shared meetings may be an additional expense if they exceed the amount allocated by a client described in the agreement. Of course, nothing is absolutely perfect, and although coworking is an extremely attractive option for most organizations, it doesn`t come without potential drawbacks.