Embracing Remote Work Trends: Creating Coworking Spaces in Multifamily Properties

apartments with coworking space

The world is changing in the way people are doing business and living their lives. Now, the work-from-home trend has been at its peak in the last few years as several industries have allowed their employees to work remotely.  To embrace this ‘new normal,’ you can design, update, or redesign your properties to facilitate the residents working from home.

Multifamily properties are not just places to live; it is transforming into an integrated environment for living as well as work. The residents who are working from home have shown interest as well as the need to have a coworking space in the residential area. 

You can create a workplace within multifamily properties and offer a solution by providing a dedicated workspace that is conveniently close to home. In this blog, we will discuss how you can upgrade your property for remote workers.

Upgrade Multifamily Property for Remote Workers

With the increasing trend of WFH, the need for coworking spaces in multifamily properties has also increased. It is important to update the services and facilities with time and requirements. Any amenity that helps residents to increase their productivity is a must for the property. This will not only serve the existing residents but will work for the prospective residents, also. 

Here are a few ways by which you can upgrade your multifamily property for WFH residents:

1. Add designated workstations in common areas

It is quite difficult to work in the same space where an individual sleeps, eats, or relaxes. This situation becomes more challenging when the young kids in the house give guest appearances on official video calls. 

Here comes your role, where you can accommodate your residents by offering them a designated place for their remote working. If, currently, there is no coworking space in the multifamily property, you can convert any existing space into working stations. For example, you can use the lounge area to be a coworking space for the residents. You can replace the couches with individual lounge chairs with table arms. Also, you can use dividers to give an office-like space. Your residents will appreciate this effort.

2. Install high-speed and secure Wi-Fi connections throughout the workspace building

The trend of WFH became successful due to advanced technology. Nowadays, almost everyone has Wi-Fi installed in their houses, especially if they are remote workers. So, it becomes necessary to install high-speed secured Wi-Fi with a reliable router in the common workspace areas. A modernized workspace will not work if it does not have good internet connectivity. 

You can add the cost of shared internet in the amenity fees paid by the residents. Most of the residents will pay it willingly as it is helpful for their remote working.

3. Define ‘quiet hours’

In general, nighttime is designated as ‘quiet hours,’ when the residents are asked to reduce the noise level. However, it has changed during the WFH trend. Now, the residents don’t want noise or disturbance during business hours when they are working in the coworking apartments.

Not only are the people working from home but there are also students who are e-learning. Along with the reinforcement of ‘quiet hours,’ you can add soundproof installations or use carpet flooring to reduce noise transfers.

4. Stock the space with supplies

All the remote workers have their laptops and cell phones for their professional and personal tasks. Sometimes they might require other equipment like printers, copiers, extension cables, etc., which their employer has not provided. If you can add these supplies along with the basic ones like pens, paper, or notepads, you can give them a convenient working space with everything under one roof.

5. Install smart technology throughout the building

A multifamily property will be suitable for modern-day remote worker residents only if it is provided with smart building technology. When technology has made remote working convenient, you need to go one step ahead. It is time you can use this technology for improvising residents’ quality of life.

The property technology (prop-tech) will not only elevate the standard of living, but its contactless features will follow the health guidelines also. 

Here are some ways prop-tech can make the remote working better:

1. Video intercom system for safe food delivery and on-demand services

There is a myth about the WFH employees that they have more time on their hands. It is very challenging for remote workers to maintain a work-life balance. 

While managing work-related tasks remotely, residents have to look after the children and juggle household responsibilities also. To ease their tasks, they can hire on-demand services and/or order food. By installing a video intercom system, you can allow residents to safely grant access to food deliveries and on-demand service personnel.  

2. Smart keys reduce resident lock-outs

When the residents are working from home, they have to leave their houses several times a day. Whether they are going to throw the trash or take a call in the lobby, the residents might not remember to take the keys along. If a resident is locked out accidentally, it becomes time-consuming to arrange and send a staff member to unlock the door.  

To avoid this hassle, you can choose smart keys over regular keys. For this, you can install smart locks. These smart locks will allow the residents to open the door from their smartphones instead of carrying a physical key. It will save everyone time.

3. Package rooms ensure successful and organized deliveries

Along with the WFH trend, online shopping, and e-commerce are also increasing. It will result in more package deliveries to residential apartments with coworking space and multifamily properties.

To accommodate the online deliveries, you need to set up a package room in the building. For this setup, you will need a video intercom system at the door and placing some shelves inside the room. With this amenity, you can make it easier for the couriers to scan the package and place them on the shelf. You can pick a package room solution that automatically notifies the residents whenever they receive a package.

It is a convenient amenity for both staff and residents. The staff members don’t need to take the stress of organizing and processing each package. Along with that, it is a freedom for residents also, as they know their package is placed in a safe room. 

Incorporate Coworking Spaces in Multifamily Properties with BFPM

If you want to incorporate coworking spaces in your multifamily properties, BFPM property managers are here to assist you. Our property experts will help you with new ideas to match the modernized way of remote working in residential areas. By enhancing the amenities of your property, you are attracting not only the existing residents but the prospective ones or other residents through referrals.  

When the coworking space is incorporated into your multifamily property, it will increase the market value of your overall property as well as the individual apartments. So, it is the right time to satisfy your residents with the need for these spaces in the residential property. 

You can reach us for queries and suggestions. Feel free to contact BFPM.

Trevor Henson

Trevor Henson is an experienced entrepreneur (10+ highly-successful start-ups) and property investor with a demonstrated history of building and leading teams in investment property management environments, maximizing returns for property owners, and optimizing properties through construction management and re-positioning. He…
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Frequently Asked Questions(FAQs)

There is no specific area requirement for the coworking spaces. It varies according to the layout of the room. It generally varies from 75 sq. ft. to 125 sq. ft. per workstation.

Although coworking spaces are very convenient for remote workers, they can sometimes have disadvantages too. Some of them are:

  • It can be noisy and distracting.
  • There is a lack of privacy.
  • There can be a risk to data.
  • There is hardly any customer service.

Earlier, most freelancers used coworking spaces, but nowadays, when WFH is a trend, it is used by almost all employees. It is a good option if the residents get a coworking space in their residential area.

A coworking space can reach a profit margin of around 10-15% once they manage to reach its full capacity. When they have the maximum number of coworkers, they gain more profit.