Colombia Flex Space Overview, 2023
Since 2022, demand for Flex Space has picked up in Colombia, as the flex model is more aligned with hybrid work and uncertain economic environment.
Flex spaces are a wide range of space solutions adapted to clients’ needs offered by third party office operators. These services usually work with membership fees, ranging from hot desks to private offices, including the provision of fitted workspaces, utilities, common area staff and amenities.
Flex spaces function under the following three models. The Tenant Model, the most frequent, is based on a traditional lease between a flex space company and the landlord. Management Agreements, which resembles hotels' functioning, where an operator and a landlord act as partners and have a management agreement. Lastly, the Self-Perform Model, in which one party acts as both operator and landlord, assuming a higher risk for possible greater returns.
