We have seen the rise of Airbnb reach astronomical levels last week with a $30B+ valuation estimate and no plans of stopping anytime soon. They took an unused asset (spare space) and created a model that is revolutionizing the hotel industry.
So where else could we see this phenomenon emerge…well generally anywhere space and or facilities can be treated like a commodity. A new start up called Optionspace has recently emerged (Berlin based) to attempt the same model for Office Space.
It’s pretty simple concept… Tenants (of any type) looking to secure office space can visit a site and see a combination of furnished and unfurnished space available across the globe. Rents are generally short term in nature and start with a minimum of a month commitment. This concept gives companies greater flexibility and shifts the dynamics from long term commitment to short term needs. Optionspace only rents flexible spaces by design helping companies with extra room and or facilities to monetize them and offset their annual commitments. It is quickly becoming a premium subletting segment of the rental business, something that was forbidden for many years by traditional property owners. To date, they are live in Berlin, Munich, Hamburg and Frankfurt with promises of rapid expansion.
It’s not hard to see how these models will continue to trend up….with so many underutilized spaces existing (hint…think parking) around the globe, they are offer a really compelling value to a generation who doesn’t want to own or be committed to long periods of time in a single location.