With the advancement of the Internet and today’s technology, companies may often forego the traditional work setting of operating day-to-day in an office building, and allow employees to work from home in an effort to cut costs and maintain a lower overhead. Today, since many people work from home, employers can thus extend the reach of their talent pool to more remote regions than ever before. Many times, however, it is beneficial to have company meetings and face-to-face contact, which is where the notion of ‘Liquid Space’ may come into play.
Liquid Space is a newer concept where people can pay to use different kinds of workplaces, offices or collaborative spaces in various cities throughout the country. They can rent small conference rooms to work with their coworkers or they can rent an individual desk to finish a project.
This is beneficial in a market like San Francisco, where many start-up companies have all or some of their employees work from home because of the high cost of renting and owning in the Bay Area. Liquid Space allows the flexibility of a “work from home” employee to complete most of one’s task at home and then meet in a physical location when needed to finish things with colleagues.
In the end, Liquid Space extends beyond company meetings and employee projects, as individuals on business trips or on vacation can rent space for a few hours or a few weeks to work on deliverables and projects. The traditional work boundaries are being challenged, and people have the opportunity to work from anywhere, not just their usual work settings. And, from a real estate investor’s perspective, buying-up commercial space is brilliant in San Francisco as one can subdivide the space, rent it out accordingly and capture the demand found in this market! As, collecting rental income from several tenants vs. just one spreads the vacancy risk, and maximizes earning potential and overall ROI on the holding over the long-term. With the strong entrepreneurial spirit found in San Francisco, Liquid Space is sure to be a growing strategy for both investors and users.