When it comes to operating a coworking space, one of the most important documents you’ll need is an operating agreement. This document lays out the rules and expectations for everyone involved in running and using the coworking space, from the owners and managers to the members and guests.
Here are some key things to consider when drafting an operating agreement for your coworking space:
1. Ownership and management structure. Your operating agreement should clearly outline who owns the coworking space and how it will be managed on a day-to-day basis. This might include details about the roles and responsibilities of any partners, managers, or employees involved in running the space.
2. Membership requirements. Your operating agreement should also spell out the requirements for becoming a member of the coworking space. This might include information about membership fees, the application process, and any other criteria or qualifications you expect prospective members to meet.
3. Use of space. Your operating agreement should clearly outline how members are allowed to use the coworking space. This might include information about desk and office space reservations, conference room bookings, and any other amenities or services you offer.
4. Code of conduct. A code of conduct is an important part of any coworking space. Your operating agreement should clearly define what is and is not acceptable behavior in the space, and what the consequences will be for violating these rules. This might include guidelines around noise levels, cleanliness, and respect for others.
5. Liability and insurance. Finally, your operating agreement should address liability and insurance issues. This might include details about what happens in the case of theft or damage to personal property, as well as any required insurance coverage for members or the space itself.
Overall, an operating agreement is a crucial document for any coworking space. By clearly laying out the rules and expectations for everyone involved, you can create a more harmonious and productive environment for all members and visitors. So if you’re in the process of launching or managing a coworking space, be sure to give your operating agreement the attention and care it deserves!