How do I tell whether a coworking space attracts long-term members?

Ask first for a roll of members with their join date, plan, and end date where there is one. Group them by how long they have stayed and by the type of plan. You are looking for a stable base rather than a high number of sign-ups that disappear quickly.

Then ask why members leave. Move-out notes, exit conversations and the owner’s recollection all help. Reasons such as growth, closing a business or working from home are different from complaints about noise, cleanliness or service. Visit at different hours and talk to a few members, with the owner’s permission, to hear how they feel.

Check the space too. Members stay when the room, internet, meeting rooms and community work, so look at the condition of each. Note whether private offices are tied to one or two big tenants who could leave together. Finally, read the lease closely. A space that attracts long-term members needs the lease to last as long as they do. Your lawyer can check renewal rights, and your accountant the cash flow. Compare what you learn with how the owner describes the community, and note where the two stories differ.

Key takeaways

• Group members by start date and plan type to see how long they actually stay.
• Ask why people leave, and separate business reasons from service complaints.
• Match the lease length and renewal terms to the stability you hope to buy.