Over 13 million people in India are expected to be working out of coworking spaces by 2020. As the industry continues to disrupt workspace models, there are growing concerns over how these shared workspaces operate between safety standards, access conditions and more.
While there are no set of rules for coworking spaces, it is vital for operators to use due diligence when creating a healthy work environment.
In order to maintain a healthy reputation, coworking spaces must defend themselves from money laundering, Ponzi or pyramid schemes or other business frauds.
Operators must also be diligent when it comes to how occupants are using the space. Coworking spaces are at a much higher risk for fraudulent occupants due to their smaller payments, so it is important for operators to vet each company that comes through its doors.
Making sure the space is secure for everyone is one of the most important things an operator can do to ensure their business is successful. Due to the open and shared nature of coworking, operators should take extra precautions to ensure the workspace is safe for their clients.Any illegal activity that goes on within a coworking space falls on the landlord, and since coworking spaces are a fairly new sector in the real estate world, there is not a single framework for handling disputes. This means that it is important to look at all the factors when considering a coworking space, including the lease agreement between operators and landlords, the consequences of termination and more.
