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Frequently Asked Questions

What is agile office leasing?

Agile office leasing streamlines the entire office leasing experience for landlords, brokers, and tenants alike. Landlords identify private office spaces within their portfolio that they are willing to offer on agile lease terms. Agile terms include a minimum lease commitment period with an extended option period where the tenant can choose to move out early and Swivel covers the penalty. These flexible workspaces allow tenants to lease as much office space as they need and when they need it. It offers portfolio diversity and rent premiums for landlords, affordability and convenience for tenants, and leasing efficiency for brokers.

Does it cost anything to become a Swivel member?

There is no charge to apply for membership and get started with Swivel. You only pay a fee when you sign an agreement for a space or other added services.

Does agile leasing cost more or less than coworking?

Once your company has 10 or more employees, it may make better financial sense to lease your own space. While each city and location is different, office spaces leased through the Swivel network usually cost significantly less than coworking, often by 25% or more on a monthly basis.

Coworking and serviced office providers, like WeWork, usually lease space from landlords for a long term and invest quite a bit up front to build out and furnish the spaces. They rent out the spaces on shorter terms to freelancers and small teams at a markup to recoup the investment and make a profit. In addition to the convenience of a fully provisioned workspace, tenants pay a premium for the flexibility of short-term licensing.

Progressive landlords have realized that many clients value these conveniences but would prefer the privacy of a dedicated office suite. The Swivel platform empowers them to market their available spaces as flexible that growing companies desire. Swivel offers optional business services for furnishing at additional cost.

Is Swivel a tenant broker?

Tenant representation brokers and leasing agent brokers are professionals licensed by states to aid buyers/lessors and sellers/lessees of real estate. Both tenant rep brokers and leasing agents are important partners of the Swivel network, but Swivel is not a broker in the transaction. In fact, we require tenants to work with a tenant broker as part of the lease transaction and we will recommend tenant partners in situations where a tenant is not working with a broker already.

Our platform and its capabilities empower tenant buyers and their brokers looking for office space to make fully informed decisions and to lease directly from the landlord and its primary leasing agent.

Can I still use Swivel if I already have an exclusive tenant broker relationship in place?

Absolutely. Swivel will partner with your tenant broker and your broker will make full commissions on the lease transaction.

Who do I sign a contract with when I use Swivel to find my workspace?

Swivel acts as a leasing and management partner to our landlords and tenants sign leases or subleases directly with the landlords. Unlike a workspace operator, Swivel does not lease the space in advance and then license it to tenants.

While our landlords use traditional leases we work with them to pre-negotiate terms that make them simpler and more agreeable for member companies. Tenants sign an associated Services Agreement with Swivel for any value-added service options that they have selected including membership fees.

Do I have to do anything to ensure my office is business-ready?

Unlike traditional leased offices, the landlord finishes out the spaces to meet the needs of growing organizations. In the commercial real estate industry, this is referred to as Tenant Improvement. This means that there is no need for tenants to pay for additional architectural and construction services, and there is no tenant improvement allowance negotiated as part of the lease terms.

Swivel offers affordable furnishing options to ensure that you can get to work once you are open for business in your new office. Our furnishing packages go beyond just desks and chairs to include everything needed to make a space business-ready from day one, including artwork, plants, decor, kitchen appliances, monitors, whiteboards, space dividers to name a few. You can customize these recommended layouts to match your budget and company culture using our interactive 3D tools.

Can I buy or lease furnishings from Swivel?

You can choose to buy your furnishings directly online from our partners at a membership discount. If you prefer to preserve your cash, Swivel will buy it for you and lease it to you. At the end of your agreement, you will have the option to buy it from Swivel for a fair market price or walk away.

What happens if I outgrow my space?

Agile office leases through Swivel offer a short minimum lease commitment period with an extended option period where the tenant can choose to move out early with no penalty. At the same time, the leases are contracts with fixed terms.

Can any company lease an office through Swivel?

Our landlord and leasing partners are actively seeking to lease their office spaces on agile terms to promising companies that are often backed by venture capital or to mid-to-large companies looking for additional remote or special use space. Through the member application process, Swivel prequalifies companies using our proprietary scoring system to identify potential for future growth. Occasionally, companies with less than a year’s track record and no outside investment, customer base or market validation are not approved to lease spaces on the Swivel platform.