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Shared workspaces or co-working spaces are becoming increasingly popular, particularly in the start-up sphere. These spaces allow for more flexibility than is afforded through traditional office leases, which can be beneficial for the owner of the property as well as anyone using the space.
To make sure that these arrangements are secure as well as flexible, it’s a good idea to have a Property Licence Agreement (Shared Workspace) in place.
What Is It?
A Property Licence Agreement (Shared Workspace) is an agreement allowing a licensee to access a shared workspace on certain agreed terms. A licence agreement can be easily varied and terminated and is often subject to less regulations than lease agreements.
Why Do I Need A Property Licence Agreement (Shared Workspace)?
Under a licence agreement, the licensee does not have a strong right to the property as a tenant does under a lease. This creates flexibility for the owner of the property but it can also create confusion regarding property rights including the right to access to services within the workspace.
This means that it’s important to have a clear Property Licence Agreement (Shared Workspace) in place which covers key legal and commercial terms and eliminates any ambiguity.
Without clear terms in place, there is a risk that parties may misunderstand each other’s rights and obligations which may result in a dispute down the track. The best way to avoid costly and lengthy disputes is to agree on clear, written terms right from the get-go.
What’s Included?
Our experienced lawyers will advise you on an agreement that best suits your business needs.
To facilitate smooth relations between the licensee and licensor, Property Licence Agreements (Shared Workspace) generally include the following:
- Term
- Payment
- Termination
- Sublicensing
- Use of space
- Liability protections
- Renewals
Need Help?
If you’re operating a shared workspace, don’t hesitate to reach out and enquire about a Property Licence Agreement (Shared Workspace).
We take a flexible approach to contract drafting so will make sure the agreement suits your needs and covers all relevant terms to prevent the possibility of any disputes down the track. We also focus on simple drafting so that the agreement is easy for both parties to understand!
Feel free to get in touch either at team@sprintlaw.com.au or at 1800 730 617 for a free, no-obligation chat.
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