What Is Subletting And Why Should You Consider It?

A wise man once told me: “Matt, you should sublet a house and save money on your rent”. That same wise man also told me that I should shave triangles in hair right behind my ears to look more like an elf.

Elf Ears Haircut circa 2013.

While the advise to shave my hair wasn’t great, and left me having to go to the barber the next day for a number zero all over, the advise to set up a sublet share house was sound. For the next 4 years I ran a 5 bedroom share house where I saved a ton of money, renting out the spare bedrooms to Uni students and young professionals.

The equation for profit was simple. Supply >Demand = $$$

Using a simple subletting agreement found online, some cheap fittings and furniture from Gumtree and Ikea, I was able to turn the spare rooms in a sought after suburb of Melbourne into a passive, worry free cash generator. It’s this principle from which Coworking Mate is based upon.

Renting Out Your Spare Work Space

If it’s easy to rent out your spare bedrooms online, why should there be any issues with renting out work space? Answer: it is easy, there just is no platform for it. Let’s run a simple scenario for someone with a 20 person office in the city who currently has 80% of staff working from home. That leaves 16 work space available to be rented out on Coworking Mate. Based on an accepted average price of $25/day, that office has the potential to earn $400 a day from that free space. Of course in reality is unlikely all the spaces will be used everyday, but it goes without saying that the capacity is there.

Vacant workplaces present an opportunity for the savvy Office Manager [Photo by Austin Distel on Unsplash]
Are you willing to rent out your space to the millions of Australians still working from home? Signing up to Coworking Mate is free and easy, just take some photos of your space, set up a listing and you are ready to go! Looking forward to working in your space soon!

Matt

G'day! The name is Matt, and Coworking Mate is the game! I'm a 29 year old bloke in Melbourne, working as an Admin Assistant by day and as the Admin at Coworking Mate.com by night. If you're reading this, I hope you have a great day and if you have any questions please email me directly at gday@coworkingmate.com.

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