What the Future Holds for Coworking Spaces

What the Future Holds for Coworking Spaces

Adaptability is said to be of the best attributes of human beings. It is because of our ability to adapt that the human species has not only survived through the centuries but has also thrived with confidence and excellence. However, 2020 tested this ability of ours to the limits when the global lockdown was imposed owing to COVID-19. Work-life probably took the worst hit and several alternative measures such as work-from-home (long term as well as permanent) and freelance policies were taken.

Now, a year later, a lot of things have changed including the onset of work-from-home fatigue. The global market of coworking spaces was expected to decline by 12.9% i.e., from 9.27 billion USD in 2019 to 8.24 billion USD in 2020. Based on research it was revealed that the operators in coworking spaces, like Airbnb coworking, witnessed revenue decline by 50% in March 2020. So, what do these changes mean for the future of coworking spaces?

Meet New Demands

In the wake of COVID-19 and the ensuing lockdown, coworking rental solutions (that was called the “new normal”) had to adapt to stay relevant to the changing scenario. Matthew Ciccone, CEO of Pittsburgh’s Beauty Shoppe, expressed that flexibility was the key to coworking spaces’ survival.

Some of the ways coworking rental solutions can stay relevant are by offering flexible contracts without long-term commitments, lowering overheads for small business and startups, delivering grade-A amenities, etc. This could probably usher in the redistribution of office spaces.

Provide Community

The small size and flexible business model of coworking spaces allow for community and reactivity. Oru, a New South London coworking hub, just like Airbnb coworking, provides its clients with an environmentally responsible workspace, thereby creating a community. Oru aimed at helping self-employed workers and those who lost their jobs due to COVID-19 to relaunch their careers by offering free membership, built-in business networks, and in-house mentorship. The purpose of a community to bring people together to exchange knowledge and learn from one another.

A Refuge

Communal coworking rental solutions are like a refuge for those looking for inspiration, stimulation, a few days break from their homes, or even for those who do not like to travel. It can also be a safe haven, for those living in close proximity, with necessary precautions implemented to mitigate the spread of COVID-19.

This can also be called an agile methodology for coworking rental solutions. Transforming a coworking space into a refuge will result in less fluff and more substance. In order to implement this business model, coworking rental solutions must opt for uncluttered and flexible design.

Health Cautious

COVID-19 has made people realize the importance of health and precaution and the post-pandemic era has become highly health-conscious. It does not matter how coworking rental solutions functioned before, but now the highest safety measures have to be implemented with all possible precautionary actions. This might even become the new normal since everybody has already gotten into the practice of maintaining high health standards almost instinctively.

Although the current trend of coworking rental solutions might look unfavorable, experts opine that remote working will not go too far. The reason being there is a change in people’s attitudes, which is showing some positive signs that will eventually make coworking a preferred option for businesses in the future.        You can even adopt the Airbnb coworking model to be innovative, sustain, and reinvent the coworking rental solutions.

RentCubo can help you reinvent your coworking rental solutions with state-of-the-art coworking space management software. We can help you revamp your business with innovative and intuitive coworking management software and help boost your business’s scalability and profitability.

How Co-Working Space is Changing the Modern World

How Co-Working Space is Changing the Modern World

In the early 50s, working professionals worked from huge corner offices and utilitarian spaces. In the 80s, they worked from their personal cubicles and lavish cabinets. Today, open offices and shared working spaces (also known as co-working spaces) are highly preferred. Coworking space is nothing but a shared office for rent. Co-working Space is changing the Modern World. Workspace has continuously evolved over the years and reached what is believed to be the ideal workspace i.e., shared workspace or coworking space.

It was in the mid-2000s that the coworking space began to grow and eventually disrupt the office space market. Now, a lot of corporate companies have switched to coworking space, similar to Airbnb coworking space, and many more are looking to shift since coworking space is continuing to change the working principle of the modern world. What is the reason behind the growing popularity of coworking space and how Co-Working Space is changing the modern world?

Coworking space

  • Decentralization of Office Space – Huge corporates and multi-national conglomerates host thousands of employees in a multi-storied office building. However, with such work-space setup safety of the employees is an alarming concern as it is difficult to manage such a large congregation in one place. Therefore, such huge corporates and conglomerates are looking to decentralize the office space and coworking space offers them the best available option to successfully decentralize their office space.
    Coworking space also enables the companies to implement the hub-and-spoke working model, wherein the company can have a ‘central office’ and operate a set of ‘satellite offices’ across a city or even multiple cities.
    Decentralization of office space requires coworking management software with appropriate coworking space management tools. A coworking space management software not only helps manage the decentralization process but ensures the best employer-employee practices that will optimize the overall work experience.
  • Customization of Office Space – coworking office spaces are themed as semi-closed offices and open space offices that can be customized to the specific needs of the company. There are several customization options such as offices with nap-pods, gaming and entertainment zones, unconventional and intuitive workstations, a leisure corner with a mini café setup, etc. Airbnb coworking space is one of the best examples of such customized workspaces that are setting the trend for bespoke coworking spaces.
  • Tech-Enabled Office Space – coworking spaces are tech-enabled and feature-rich and knits all workspaces such as individual offices, coworking spaces, work-from-home, and freelancers together. Coworking management software allows for tech-enabled office spaces that include automation, artificial intelligence (AI), mobility, internet of things (IoT) to ensure seamless connectivity, networking, remote management, etc. This next-gen office technology provides collaborative tools to deliver a personalized and seamless office experience for the professional to improve their efficiency.
  • Flexible Office Space – coworking spaces are occupant-centric, thereby allowing for utmost flexibility for the occupants (companies). Coworking spaces are flexible in terms of space, timing, and duration and the occupants have the leverage to demand a safe and tech-enabled workspace and pay only the working hours. With a user-friendly coworking management software both the occupants and the coworking office space can enjoy a mutually benefiting collaboration for however long they wish to.

Conclusion

No wonder the coworking space is changing the modern world and fashionably growing its presence. With such relaxed and stretchable plans and features, coworking space is fast becoming the new normal.

The Impact of Coworking Spaces on the Real Estate Industry

The Impact of Coworking Spaces on the Real Estate Industry

It has been a little over a decade since coworking spaces gained prominence, and since then it has grown to become exceedingly popular among working professionals. Moreover, due to rapid urbanization and technological advancement, with the integration of coworking software, across several industries an increasing number of people are opting for these flexible coworking spaces than the conventional offices. However, this massive shift to coworking spaces has disrupted the commercial properties and the real estate market to a large extent.

The real estate market had thrived all along and realtors made the most out of the high demand for space. While most industries were subject to market trends and risks, the real estate industry was untouched by these factors and witnessed a constant growth curve, right until the rise of coworking space. It has greatly impacted the real estate industry largely because of the varied benefits it has to offer including coworking management software. So, here are a few tenets of how the coworking space is affecting commercial properties and thereby the real estate industry.

Coworking Space

  • Pocket Friendly – the most important aspect of renting out a coworking space is that it is extremely pocket-friendly. The flexible leasing terms, low-security deposit requirement, and pay-for-usage policies result in lower rental costs. This helps the companies in revenue generation and good cash in-flow. Companies are required to pay only for the office space but have access to the cafeteria, restrooms, corridors, balconies, pantry, and other common areas for free. Meeting rooms, board rooms, AV rooms, etc., can be rented on-demand on an hourly basis, which works out much cheaper than conventional office spaces.
  • Space Utilization – conventional offices were known for having large areas of unused or less-used spaces. This working model was neither productive nor cost-effective because of the prevalence of unproductive workspace. However, coworking space results in optimal space utilization, which means extracting more productivity out of less space. This new-gen working model is more profitable than the conventional model.
  • Plugand-Play Services – coworking space offers plug-and-play services for companies and business organizations to begin their operations immediately. The plug-and-play services are highly preferred by most businesses because it is extremely convenient since the corking space readily offers all business operation requirements such as office furniture, hi-speed internet connection, quickly on-boardable servers, air conditioners, cabinets, etc., specific to the business organization. With plug-and-play services, businesses can immediately and completely focus on business operations without being interrupted by administration and maintenance work. Coworking software also plays an important role in the plug-and-play services as service requests can be raised within the coworking management software
  • Customizable Office Spaces – based on the nature of the business, employees, work ethics, etc., companies can customize their office spaces. From as leisure and creative as possible to as structured as possible, the coworking space can be customized based on the specific needs of the business organization. This cannot be achieved in a conventional office space mainly because of the rigidity in the office structure and the expense involved. In addition, coworking space software provides an array of customizable options.
  • Coworking Space Software – one of the most important technological advancements in coworking space is the invention and integration of coworking space software. The coworking software has a host of features that aid in the ease of end-to-end business operations. From the onboarding process to payments, everything can be executed on the coworking management software. All your business operations are just a click away.

The features and benefits of coworking space are more than one could imagine. These benefits not only ease the business operations but also make it more desirable for companies to quickly shift to coworking space. It is no wonder it is not only impacting the real estate industry but also disrupting it. The real estate industry is restricted in many ways and cannot offer the benefits a coworking space can. The real estate industry must reevaluate its game plan and shift its focus to the thriving this industry or something similar.

Do you want to transform your real estate business into the high-in-demand coworking space? RentCubo can help you in the transition process. RentCubo is one of the leading software and mobile application companies that can build robust and state-of-the-art coworking space software to help ease the transition process.

What are the benefits of using a coworking space software?

What are the benefits of using a coworking space software?

As the economy has made its shift from ownership towards renting, coworking business makes it easier to get a professional workspace at a fraction of the cost compared to owning office space. The number of coworking spaces across the world is projected to cross 20,000 and reach 25,968 by 2020. While running a coworking space business is lucrative, managing and operating it can be a hassle. So how to manage the key operations effectively? It is time to leverage the benefits of coworking software to streamline your coworking space’s business operations. The coworking software makes it easier for users to find the shared office spaces at the location of their choice and gives businesses the flexibility to scale up or down as per business requirements.

Why coworking management software?

Coworking tasks like keeping track of membership packages, payments, needs both time and money. The automation of coworking management responsibilities is critical in saving time and money. As coworking spaces are becoming more popular, businesses have started building software to help coworking spaces thrive and craft the best experience for their members and visitors. Before you get any coworking software to manage your business, you need to understand the specific needs of your business to identify the most effective software given your budget. Office space software features a simple user interface which makes it easy for anyone to use it effortlessly. You need not possess any technical expertise to learn the process of the system. Coworking space management software allows members to enjoy a whole new experience. It allows them to sign up for membership packages and schedule bookings with just a button click.

Benefits of using shared office space software

Coworking software is the foundation to operate a coworking space business effortlessly and efficiently. Coworking software controls and brings together the unknown variables to operate your business in a profitable way. Here are some of the benefits of coworking space software and how it creates a framework to channelize coworking space management in the right direction.

Save valuable time and effort

Instead of blindly adopting the strategies of your competitors, identify the real reasons why your business needs office space software. Start assessing how much time your team dedicates on managing your coworking space business. If you have multiple coworking space properties, managing all tasks without confusion can be a daunting task. Managing membership plans, bookings, and other services can take your staff’s valuable time if the processes are carried out manually. Coworking software helps to manage everything instantly to organize your business and manage your time and efforts in a better way. Additionally, if you are away from the office, you still can have control over your coworking space remotely using the software.

Manage coworking space bookings

Are you running your business operations manually? Or if you are currently using any system, are they designed for coworking management? If not, you probably might be missing out on a lot of cutting edge features.

It’s time to finally ditch the complicated third party management tools to manage your coworking space business. Use coworking space software specifically designed for managing shared office spaces. It features office space and meeting room booking management tools that help in managing all bookings from the single dashboard. It also helps members to make bookings with a few simple taps and even pre-book rooms in advance.

Consistency of processes

Using coworking space software as the beginning point for coworking space business processes breeds consistency. From member check-in to mailing booking confirmations, processes through a centralized platform are standardized. This brings in perfection to the coworking space management. Consistent processes also make the training for your workforce easier.

A comprehensive view of reservations

A comprehensive calendar view of reservations not only gives you a clear understanding of the reservations, but it also helps to avoid double bookings. If you have multiple coworking spaces to rent out, creating a calendar view that displays the availability of spaces will help to improve efficiency.

Centralized resources

Benefits of coworking software include the availability of centralized resources which helps with the consolidated task management. No matter what your resource needs and coworking space requirement, they would be easily addressed with the right coworking space management software. Dealing with booking requests, reservations, planning resources, etc. is central to the management software. The right software will offer the necessary tools to manage a coworking space business efficiently.

Easy payment collection

Generally, in a coworking space business, both bookings and payment processing is done manually. Imagine the stress it would create if you have a growing number of users. Even with the best management tools, there are chances of errors. However, with a coworking space software, bookings and payment collection is directly integrated with the system which makes managing the activities easier. Invoices are directly integrated which makes the whole process easy and simple.

Real-time monitoring

One of the major obstacles in managing the coworking space business is handling demands in real-time. While most coworking businesses sell subscriptions, your business must be able to accommodate on spot requests as well which adds to the logistical challenges. Shared space software helps to get a real-time picture of what coworking spaces are open and where. It can also give insights on how long office spaces are booked and what reservations are on the upcoming schedule.

System of records

Even if coworking space members input their information to book shared office space, there is a certain level of anonymity in it. You are not actually familiar with the people and won’t be able to know them better. However, if they book through your shared space software, it creates a system of record of users that might be helpful in understanding your customers.

Through a system of record, you can see members who book your coworking space often. These insights are powerful when it comes to optimizing the business and understanding customer behavior.

Launch your own mobile application

As the first impression matters, one of the most exciting features of the coworking space management software is your very own branded mobile application. Your members will be able to download your app directly app store, this improves efficiency for both businesses and members alike. Members will be able to book meeting rooms, upload payment methods, enjoy the in-app chat, and much more.

Cost optimization

By understanding your coworking spaces, you can strategize your price the best way. Knowing how often your spaces are used, who is using and why, allow you to set price plans that are beneficial for business growth. More than maximizing what you charge for workspaces, good management data can also throw light on where you are over-allocated. Receiving data about pricing informs operational strategy which helps in managing your business finance the best way.

Conclusion

Coworking space software not only helps in maximizing revenue but also in driving forward to expand your user base and your business. Generating leads is as important as ensuring your members can easily find and secure coworking space bookings directly from your website. Coworking space management software brings order to a business model that is often prone to chaos and adds certainty to the unpredictability of a conventional workforce.

 

How much does it cost to start a coworking marketplace?

How much does it cost to start a coworking marketplace?

Coworking spaces are quickly gaining momentum across the globe for a couple of years. The concept of shared office spaces has been in the market for a while, but its popularity has been rising in recent years with entrepreneurs and freelancers looking for dynamic and flexible workspaces. Coworking spaces have disrupted the traditional work environment and are emerging as a rapidly growing sector and are expected to continue in 2020 as well. According to Statista, there will be over 22,400 coworking spaces by the beginning of 2020.

Coworking spaces are shared office spaces that allow both individuals and businesses to share the office space and resources like desks, meeting rooms, and collaborative areas. With the rising demand for coworking spaces among people, more and more brands are entering into the coworking space marketplace business to make it easy for people to find and book coworking spaces. But how much does building an Airbnb for coworking cost?

If you are looking for different ways on how to start a coworking marketplace, you are at the right place. In this blog, we will discuss the cost to create a coworking marketplace, its business model, essential features, and other factors that influence the overall cost.

The business model

Basically, coworking space marketplaces work exactly like Airbnb. While Airbnb is a peer-peer marketplace that connects travelers and hosts, coworking space marketplaces connect shared office space providers and businesses looking for shared office space rentals.

Just like Airbnb, coworking management software is also made for a mass market that connects different markets- Coworking space owners and entrepreneurs or freelancers through customized user experiences. When it comes to the revenue strategy, the platform makes the money from the commission for hosting listings and renting from each booking. For example, Airbnb takes a hosting fee of 3% and a rental fee of 6%-12% for each booking. While the basic revenue model of a peer-peer coworking management software is the commission model, you can employ other monetization strategies like premium listing, in-app purchases, etc.

The Cost to set up a coworking marketplace

Coworking marketplaces are complex and require a lot of work. The overall cost of starting a coworking marketplace depends on a lot of factors. Of course, the functionalities of the platform affect the overall cost. The good news is that there are cost-effective alternatives when it comes to building coworking marketplaces.
Let’s explore the factors that affect the shared office space cost.

Core features and functionalities

When you want to launch a coworking marketplace, it is important to differentiate between the core features and additional features of the platform. The coworking platform has three types of users- The coworking space owners, the renters, and the admin. The most complex part of development is in implementing the features for the service providers. Here are the common features and functionalities you must implement in your coworking marketplace.

Registration

To start using your coworking platform, both users (excluding admin) have to register and sign in. The basic option is to allow users to register using email and password registration. You can also allow social media signup to make it more convenient for users. Once the registration is done, users must be able to log into the platform.

Set up user profiles

After signing in, users must be able to create user profiles with their personal information like name, mail id, passwords, etc.

Create listings

Coworking space owners must be able to list their shared office spaces in your platform with details like name, location, type, and images.

Powerful search

This is one of the important features of any coworking marketplace to help users find the right match. Your platform must have an advanced search system that allows users to search for coworking spaces based on location, availability, and various other factors.

Booking system

The advanced booking system of the coworking space marketplace will allow users to check the availability of coworking spaces for a particular time frame. After inputting the desired date, the user must be able to see a list of suitable coworking spaces with all essential details like descriptions, photos, reviews, etc. Once a user makes a booking, the service provider will receive a notification and can choose to accept or decline the booking.

Messaging system

An in-app messaging system is essential to facilitate communication between service providers and renters to discuss things regarding booking a coworking space. This is an important feature that allows establishing trust between users.

Online payment

If you are thinking about how to start a coworking marketplace business, this is one of the most important functions you must implement in your platform. Integrate a full-fledged online payment in your coworking space marketplace to make it easy for renters to pay for booked space and for service providers to receive payment for their rental services. The online payment system comes handy for users to make the payment on the go and for the admin to earn commissions from each transaction that happens in the marketplace.

Building a coworking platform

The most important part of launching a coworking business is to build a coworking marketplace. Building a coworking platform involves planning how to set up one. Do you want to build it from scratch or build the platform efficiently using a white label solution? These factors will play a major role in deciding the overall cost to set up a coworking marketplace.
Let’s cover the two alternatives and the cost involved.
• Building a coworking marketplace from scratch
• Building a coworking marketplace using a readymade script

Building a coworking marketplace from scratch

Creating a coworking marketplace from scratch is the most elaborate and costly method. The cost of starting a coworking marketplace depends on the unique requirements of your platform. There are a lot of aspects that influence the overall cost like the technical complexity, the number of platforms, the number of developers, standard or customized design, etc.
Each feature of your platform must be created and configured on both the client-side and server-side. The server-side tech stack is one of the significant and the most time-consuming part of the entire development process.

The overall cost to build an Airbnb for coworking space can range anywhere between $50,000-$100,000, or more depending on the average rate for a developer. Globally the price differs for an hour of developers and can range anywhere between $20-$500 per hour.

Building a coworking marketplace using a readymade script

Using a white label script to build your coworking marketplace is an efficient and cost-effective way to reduce the coworking space cost significantly. A readymade script is ready to deploy a program that helps to create a peer-peer rental marketplace with all the features and functionalities similar to Airbnb.

If you are thinking about how to start a coworking marketplace on a budget, a clone script saves you a lot of time, effort and yes, a significant amount of money as well. A good script comes with all features like powerful search, advanced filters, booking management system, communication system, online payment integration, multi-currency support, admin dashboard, and monetization features. And, all this will just cost you around $1000-$2000 alone with all the customizations you require.

Wrapping it up!

The trend of coworking space is increasing and is going to continue the same in 2020 as well. The cost of starting a coworking marketplace with a clone script is quite affordable when compared with the cost to build the marketplace from scratch. Building a peer-peer platform for your coworking space business is a better alternative as the work is already automated for you. You can customize it to incorporate any degree of personalization you require to make the final product unique.

Even with the high demand, there is a lack of an efficient coworking management software that connects two user groups to facilitate business between them. For the same reason, launching a coworking management software will always be a lucrative business.

Starting a Co working Rental Marketplace? Here’s what you need to know for launch

Starting a Co working Rental Marketplace? Here’s what you need to know for launch

There was a time when co-working space made heads turn just because they offered spaces that allow individuals from different companies to come together and work. However, today every city boasts coworking spaces and this cool startup culture has become a norm.

Coworking space offers a sense of community and a place to work and rent to both individuals and groups. The business model of Coworking spaces is similar to that of Airbnb. Just like Airbnb offers a platform to rent out apartments and homes to travelers, coworking spaces connect users to open desks, office and meeting rooms. Individual and small groups gain access to space that is more customized than normal space and cheaper than full lease. Airbnb for coworking maximizes the usage of unused corporate spaces and fosters a community of growth and innovation. In this blog, let’s cover the basics of coworking spaces, why they are trending, how they work, things to consider when building a coworking rental platform, core features, etc. Let’s get started.

Why coworking spaces are trending?

When brainstorming about how to start a coworking space business, you must understand the benefits offered by coworking spaces and why people prefer it. With the rising trend of coworking space, more and more businesses are considering starting a coworking marketplace. Here are the reasons.

Affordability

Even today one of the major advantages of coworking space is the cheap rent. In today’s age of high rental price, having an office or meeting set up in a coworking space is a cheaper alternative for startups. Although startups prefer using coworking spaces for its affordability, it’s not just that. Coworking spaces provide a type of flexibility and convenience that helps professionals to collaborate and expand which is not possible with the traditional office setup. Generally, traditional office spaces can be limited by their very nature and the opportunities to interact are restricted.

Facilities interaction and networking

In a flexible coworking space built on collaboration, the effect is amplified and there are enough opportunities for people to interact with each other. Not within their own businesses alone, but more widely. As already said, coworking spaces give you ample opportunities to interact with people from different companies and backgrounds under one roof. Over a cup of coffee at the cafeteria or over a game zone, many interactions that makes way for better ideas take place as well. It helps in getting new prospects, guidance, market help, and redefine the employee experience too.

Partnerships and events

A growing trend for coworking spaces is to allow different companies to collaborate and organize events. By organizing different events, coworking space helps startups to interact with industry experts and even work with them.

What do you want to achieve by starting a coworking marketplace?

Before you get busy looking for ways on how to set up a coworking space rental marketplace, it is important to take some time to reflect on these things- Why what, and how. Why you want to create a coworking space rental marketplace. Is it because you want to join the competition just to leverage the monetary benefits it offers? Perhaps you want to solve an existing problem in the industry or build a profitable side business. Whatever the reasons are, articulating your motivation and goals to launch a coworking marketplace will help you devise a great strategy and business plan.

What does starting a coworking marketplace really mean?

With increasing competition in the coworking rental industry, coworking marketplaces need a way to differentiate from other competitors. To understand how to start a coworking marketplace business, it is important to understand what you really mean with that. Here are some essential components that define a coworking rental marketplace.

Peer-peer marketplace

Coworking space rental marketplaces are nothing but Airbnb for coworking that connects coworking space providers and individuals or small businesses to offer services to each other.

Location-based search

Like in other marketplaces where the location of the provider doesn’t really matter, in location-based peer-peer rental marketplaces for coworking space rentals, the platform must be able to connect customers with providers who are physically close to each other. These coworking space marketplaces allow customers to search for coworking spaces by locations.

Availability and booking management

A coworking space rental marketplace must have coworking space management tools like availability and booking management systems users can book on dates that fit them. This feature helps in increasing successful bookings, avoid double bookings, and maximize user satisfaction.

Online payment

Peer-peer rental marketplaces for coworking must facilitate online payment to allow users to book and pay through the website. This is convenient for users, secure for the providers, and offers a business model for the marketplace administrator who can charge commissions from each transaction.

Review systems

Coworking space rental marketplaces are all about building trust between two user groups. Each user has their own verified account with their real name and details. Both customers and providers can leave reviews for each other after transactions.

Things to consider before launching your coworking space marketplace

Here are some key factors that contribute to the successful development of a coworking space rental marketplace.

Offer unique USP’s

Once you have chosen a niche, incorporate unique selling propositions to your rental marketplace to make it different from the already existing platforms in the market.

Develop the brand identity

When creating a recognizable product, pay attention to considering the user’s needs and uniting them into a community. People love being a part of a social entity and will happily support your rapidly growing business.

Improve the user experience

Once you have an established audience, the next thing you must focus is on improving the user experience. Make your service look professional and offer the ideal experience to both coworking space owners and users who want to book them.

How to start a coworking marketplace?

Building a coworking space rental marketplace requires a lot of dedication. The most significant thing you want to figure out is how to set up a coworking marketplace. Do you want to develop it from scratch or go for a cheap yet efficient alternative of using a white label coworking management software to build your marketplace?

White label solutions are ready-made website scripts that allow you to build a similar website effortlessly and cost-effectively. For example, if you are building an Airbnb for coworking, instead of building a rental marketplace from scratch, you can use an Airbnb clone to build a customized solution with more space for creativity and for a moderate price.

Core features of a Coworking rental marketplace

Despite the seeming simplicity of the interface of a coworking space rental platform, it is a complex platform combining a lot of features and functionalities. There are three main types of user-profiles: Guest hosts, and admin. Let’s consider the overall features of a coworking space rental platform.

Registration and signup

This page is what both coworking owners and businesses who want to book rental services see first. Ensure you incorporate different methods to register like using email id, phone number, and social media accounts. Once registered, users must be able to login to their profiles successfully.

Profile details

A user profile will contain a dashboard to manage the account settings. Space owners will see a dashboard with their listings, the number of bookings, booking details and other related information. Whereas users will be able to their basic profile details, booking they have made, reservations, etc.

Verification

The verification process will be similar for both coworking space owners and renters. It is necessary for both parties to provide a government-issued ID and license.

Search and filtering options

To make the first booking or list their spaces, there must be a smart search with advanced filters so that results can be filtered according to basic and advanced criteria.  For example, the filtering options allow users to discover coworking space with specific amities, pet-friendly, or meeting spaces suitable for handling certain events, etc.

Messaging

A messaging system is an essential feature for any Airbnb for coworking space. This feature allows both users to discuss the details of booking directly on the platform. To avoid negotiations on the side, you can invalidate data like phone numbers and links so that users don’t exchange their contact information.

Payment system

To carry out financial transactions related to booking coworking space and related services, it is necessary for coworking rental marketplaces to integrate a secure payment system to the platform.

Push notifications

To keep both users updated on the news, offers, and promotions, the rental marketplace needs to send notifications to users’ accounts, mobile devices, and email.

Let’s start building a coworking rental marketplace

The trend of coworking spaces is gaining momentum and is going to rise tremendously in the future as well. Despite the high demand, the supply is less. Hence it is the right time to launch a coworking marketplace to encourage new connections and opportunities for both individuals and businesses. As we now have covered the most important aspects you need to consider before starting a coworking marketplace, it’s time to start building.