GlobeSt: Office Tenants Want Flexible Space. They Don't Think Landlords Can Deliver

Flexibility in the workplace is hardly a new trend, but the Covid-19 Pandemic has pushed this trend over to being the new normal. Here is some insight from Globe Street as to how landlords can compromise in meeting the needs of tenants as the workplace continues to navigate its way through the pandemic.

Flexible workplaces are among the top demand, and Jeremy Bernard, CEO North America at essensys, says that landlords need to start offering more leasing models. “Landlords need to provide a variety of lease and term options to tenants across their portfolio,” Bernard tells GlobeSt.com. “The reality, particularly in urban core markets, is that vacancy is at historical highs. Landlords are more likely to lease space on flexible terms than in a traditional model. Some rent even on shorter flexible lease terms is better than zero rent on longer lease terms. There’s no certainty of income when you have vacant space.”

Landlords are catching on. According to the survey, 67% of landlords listed flexible leases as a way to increase revenue.

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