Landlords and high performing coworking space operators
Become fully equipped to negotiate a deal structure such as a management agreement that aligns risk and reward for both the
landlord and the operator without spending months negotiating the wrong topics and thousands of dollars on attorney fees that don't lead to the agreement that covers the right elements for both parties.
If you’re a landlord or a coworking space operator looking to enter into a creative partnership structure to put a coworking space in a building that has the right upside for both parties...
While being confident that you’ve covered all of the “who does what” and “what if’s” before you commit....
Then you know you need to become an expert on the coworking management agreement.
By the end of this program,
you will...
- Understand the differences between traditional leases and creative deal structures such as management agreements.
You'll be able to clearly explain the risk/reward profile of each, and know which option is right for you. - Be able to explain the business model from both the LL and operator perspective.
You'll have a sample pro forma for a management agreement and be able to plug in the financial drivers to evaluate your own deal. - Know how to find and evaluate potential LL or operator partners.
You'll have a checklist that you can use to determine whether the other party is. a good fit before you begin the process of negotiating terms. - Be able to define the roles of each party in a management agreement. Who does what, who pays for what, who reports what, etc.
Partnerships are like marriages. It's critical to know how to divide up responsibilities and what to do if one party doesn't pull their weight. - Know what the elements are in a management agreement and how each term might get negotiated.
From the pre-opening budget to the FFE budget, you'll know what's negotiable, and how to look for terms that satisfy the goals of both parties.
I'm Jamie Russo, the CEO of Everything Coworking. We help coworking space operators start and run profitable coworking spaces through our two signature programs, The Coworking Startup School and Community Manager University.
Operators ask me daily for support learning about and negotiating management agreements so I've partnered with Giovanni Palavacini to get you the help you need. He has a deep background in real estate and management agreements for hotels, retail and coworking spaces.
He understands the operator perspective AND the landlord perspective. Best of all, he wants you to deeply understand the business impacts of choosing the management agreement model as well as have the tools you need to negotiate every single section of an operating agreement.
Jamie Russo, CEO Everything Coworking
Hi I'm Giovanni.
Together, we will get you prepared to confidently negotiate your non-traditional lease deal.
My "why" is to make sure that before committing to a partnership, you know that partnering is right for you, that the partner is right for you and that the deal is right for you.
Most buildings should have some form of flexible workspace - as a way to attract today's users.
We also believe that the traditional lease model is not always the ideal structure for the space operator OR the landlord.
I started my real estate career in retail and have now spent over a decade serving the flex industry. I've executed more flex deals than any other broker and I deeply understand what makes deals and partnerships work...or not.
There are not enough resources to help today's asset owners and flex space operators avoid costly mistakes. We're here to help.
Giovanni Palavacini
Giovanni Palavacini
Enroll in Creative Coworking Partnerships for Coworking Business
Owners and Landlords
(Self-paced course materials + 1:1 coaching call included)
WHAT'S INSIDE THIS COURSE:
Module 1
The Lease vs. The Management Agreement: Structure, Obligations, Risks and Rewards
Equip yourself with a solid understanding of the business model for a management agreement vs. a lease. Setting this base will help you to determine when a management agreement is the right approach, and what you can expect in terms of risks/benefits.
Module Highlights:
First up, we get aligned on the risks/reward and structure of the management agreement for the LL and operator. Here’s what we cover in this module:
- Financial and legal obligations of a lease and of a management agreement
- Benefits/tradeoffs of each structure
- Finding and evaluating management agreement opportunities
- Case Study: 10 years in a lease vs. 10 years in a management agreement
Module 2
Roles in a Management Agreement
A management agreement is a little like a marriage except that we all have a pretty good handle on the roles in a marriage...The roles in a management agreement are equally important but more mysterious. Let’s clear them up.
Module Highlights:
Here we get super detailed on who handles the elements of a coworking space in a Management agreement including: Who owns the bank account, who pays the staff, who designs the space, who pays for the FFE, who pays for the buildout, who handles monthly reporting and more.
- The relationship between a landlord and an operator in a MA and how it differs from a lease (hint: you’re not only calling when the elevator is out).
- The roles of the LL and Operator in a MA (who does what, who pays for what, who reports what)
Module 3
The Sections of an Operating Agreement and How to Get One Done
A management agreement is a little like a marriage except that we all have a pretty good handle on the roles in a marriage...The roles in a management agreement are equally important but more mysterious. Let’s clear them up.
Module Highlights:
This module dives into the detail you’ve been waiting for. We walk through the sections of an operating agreement step by step. We share the terms to be negotiated in each section, typical interests for each party and sample approaches to each term. This section will serve you well as you’re considering the management agreement model for your business model, and support you while you’re in the process of negotiating.
- What roles are involved in writing and negotiating a management agreement?
- The sections of a management agreement; What elements the LL+Operator must decide and how to prepare to negotiate
- What to do when you get stuck while negotiating a term in a section
When you enroll
you’ll get:
- Three modules with video, slides and downloads/ templates
Three modules that will help you understand the business model of the management agreement AND negotiate the detailed terms of a management agreement. - Access to a business model approach that may align better with your goals than a traditional lease
When you've completed this course, you will have access to a new way of thinking about operating a coworking space or adding one to your real estate offerings. This is powerful as the demand for flexible workspace is expected to sky rocket post COVID. - Access to landlords and coworking space operators that are considering the MA model
One of the best ways to truly learn a new approach is to get access to how your potential partner thinks...what's important to them, what's at risk for them... in this course, our goal is for you to interact with both sides during our live Q&A calls. - Live Q&A calls for each module to dive into the specifics of your unique situation
Got questions about your specific goals and situation? We will do our best to support you during our monthly live Q&A calls (over Zoom). You can also email us with questions.
Frequently Asked Questions
I am a landlord thinking about adding coworking or flexible office to my portfolio but I haven't decided yet. Is this a good course for me?
I am negotiating an active deal right now and rather than taking the course, I'd like 1:1 advisory support.
I just want a template to use to negotiate a management agreement. Will I get one?
What if I don't have a coworking space yet? Should I take this course?
I'm sure I'll have questions about my specific situation - Who can I ask?
Is it true that only national operators get management agreements done?
Enroll in the Course Today.
We run live Q&A sessions every month
(email us with questions any time)
Still thinking about it?
Creative Coworking Partnerships is PERFECT for you if you are...
- A landlord that wants to understand what the business model would look like in a management agreement.
- A coworking space operator looking to expand, but maybe not with a traditional lease. You want to understand the business model and the risk/reward of a management agreement (or other creative deal structure) approach.
- A landlord or a coworking space operator that is ready to look for a partner, but doesn't know where to start in terms of structuring and negotiating an agreement.
- You are a landlord or a coworking space operator getting ready to negotiate an agreement and you want to get a head start on the sections and terms to save thousands of dollars in attorney fees.
- You are a coworking space operator ready to partner on a space larger than 5,000 square feet. A pure management agreement model generally doesn't work on smaller spaces.
Enroll in Creative Coworking Partnerships for Coworking Business
Owners and Landlords
(Live + Recorded Sessions)
Join today and attend our first live session on June 29th.
You can register until June 20th. The live sessions will. ber recorded and you will have access to the full course along with all resources/templates/worksheets.
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