Swivel Spaces are are agile HQ workspaces that are short-term and turnkey. These workspaces may also be marketed using standard lease terms through traditional brokerage channels. Swivel Space listings are unique in that they offer flexible options such as design, furnishings and short lease terms. These options are not available for the same space listed elsewhere.
There is no charge to become a member. You can use our free tools and take 3D walkthroughs of as many Swivel Spaces as you like at no cost. You only pay a fee when you sign an agreement for a space or other added services.
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, workspaces leased through the Swivel network usually cost significantly less than coworking, often by 25% or more on a monthly basis. Swivel offers free tools to compare the cost of workspace on both a per square foot as well as a per desk 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 network empowers them to market their available spaces as turnkey and with short lease terms that growing companies desire. Swivel offers optional business services for furnishing at additional cost.
Tenant representation brokers and leasing agent brokers are professionals licensed by states to aid buyers/lessors and sellers/lessees of real estate. A subagent is a licensed real estate agent who introduces a tenant buyer to lease a property, acting in the role of a procuring broker, but is not a tenant’s official tenant rep broker [see Texas’ definitions]. A subagent may work directly with prospective tenant buyers, but owes its fiduciary duties to the landlord.
Our network and its tools empower tenant buyers looking for HQ workspace to educate themselves to make fully informed workspace decisions and to lease directly from the landlord and its primary leasing agent, with Swivel acting as a subagent.
Absolutely. Swivel will partner with your tenant broker and your broker will make full commissions on the lease transaction.
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 high-growth companies. Tenants sign an associated Services Agreement with Swivel for any value-added service options that they have selected.
Unlike traditional leased offices, the landlord finishes out Swivel 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 for Swivel Spaces.
Swivel offers affordable furnishing options to ensure that you can get to work once you are open for business in your workspace. 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.
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.
While most leases and subleases that are transacted on the Swivel network offer shorter terms, they are still fixed-term contracts. One way Swivel members add flexibility into their terms is to request termination options for the final year of lease in return for a cancellation fee. Some participating landlords offer this option but not all. Details are available upon request.
Our landlord and leasing partners are actively seeking to lease their workspaces on shorter terms to promising young 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 network.