5 Benefits of Adding Flexible Workspace to Your Community

The work scene's shifting—less 9-to-5 grind in a stiff office, more flexibility and balance.

Enter flexible workspaces, a game-changer for modern apartment living.

Turns out, residents are really into perks that make working from home easy—high-speed internet, comfy spots to settle in with a laptop, you name it.

And, recent surveys show that 50% of renters currently work from home at least one day per week.

So, for PMCs, upgrading up your communities with these workspaces isn’t a gambled investment; it's a strategic move.

(Source)

What is a Flexible Workspace?

A flexible workspace is an area within a community designed to support a variety of work styles and activities, equipped with amenities like high-speed internet, adaptable furniture, and communal spaces.

It caters to the needs of remote workers, freelancers, and entrepreneurs, offering them the option to work individually or collaboratively in a professional setting without leaving their community.

How Do Flexible Workspaces Impact Resident Satisfaction?

Flexible workspaces are a big plus for residents, combining convenience with the flexibility to work in various settings that suit their daily needs.

More than just a place to work, these areas foster a sense of community, offering a chance for residents to network and socialize right where they’ve chosen to live.

This blend of practicality and social connectivity makes the community shine in the eyes of the modern renter, likely boosting satisfaction and retention rates.

5 Benefits of Adding Flexible Workspace to Your Community

Embrace the future of work and community with flexible workspaces, setting the stage for a number of hidden benefits.

Here are a few to consider:

1. Increased Community Value and Revenue

Flexible workspaces can increase a community’s market value by aligning with the modern resident’s preferences, offering a compelling blend of work-life balance.

The addition would not only broaden your community’s appeal to a diverse pool of potential residents but also introduces new revenue opportunities.

Imposing an amenity fee for workspace use and event hosting can increase profitability, potentially leading to a significant return on your investment.

2. Competitive Advantage in the Market

Adding a flexible workspace provides a competitive advantage in today’s rental market.

Properties that embrace this trend not only distinguish themselves but also become magnets for a growing segment of remote workers and freelancers looking for an integrated living and working environment.

3. Fostered Sense of Community

Shared workspaces go beyond simply offering a spot to work; they're about creating a center for social interaction, collaboration, and networking.

Imagine transforming your everyday areas into coveted gathering spots! This shift could turn your community into more than a residence—it may grow into a place where groundbreaking ideas are forged and lifelong relationships begin.

4. Diversification and Risk Management

A flexible workspace can also diversify your community, appealing to freelancers, entrepreneurs, and remote workers, and broadens its market reach. This amenity not only enhances appeal but also stabilizes income, providing support through times of potential economic volatility and market fluctuations experienced in recent years.

5. Future-Proofing Your Community

As the demand for remote and flexible work options continues to rise, properties equipped to meet these needs will remain relevant and desirable.

Adapting to this new norm ensures your community remains competitive and desirable in a rapidly changing market.

(Source)

What Are the Key Features of a Successful Flexible Workspace?

A successful flexible workspace is designed to meet the evolving needs of modern professionals.

Here are the essential features that distinguish a successful flexible workspace:

👉Versatile Work Areas: Spaces that accommodate various work styles, including quiet zones, collaborative areas, and private offices.

👉Robust Technology: Essential tech amenities like high-speed internet, wireless charging, and modern AV equipment for productivity.

👉Community and Networking Opportunities: A vibrant community with regular events and spaces designed for social interaction and professional growth.

👉Security and Privacy: Secure access, data protection, and private spaces ensuring resident safety and confidentiality of work.

👉Flexibility: Options that adapt to changing group sizes and business needs, allowing for easy adjustments.

Tip 💡: Regularly sending out feedback requests from your residents about the workspace to ensure it continues to meet their needs.

How Can PMCs Market Flexible Workspaces to Attract More Residents?

Marketing your workspace to potential residents starts with highlighting your space’s benefits like high-speed internet and diverse work areas on social media and your website. Advertise promotions like free trials and host events to showcase the amenities the space has to offer. And people love connection, so emphasize the workspace's community-building aspects in your marketing campaigns.

Tip 💡: Showcase the workspace through virtual tours on your website and social media to broaden awareness to potential residents.

By now, you should be able to see that integrating flexible workspaces into your community offers key benefits.

They meet the modern professional's needs but also sets your community apart in the market.

Consider adding a flexible workspace as a smart way to elevate your community’s appeal in the eyes of current and future residents.

What was your biggest takeaway from this article? Let us know by leaving a comment below!

‍

‍