It should be reminded that previously the relations between the property owner and operating company were mainly regulated by the rental agreement, under which the operating companies acquired the rights to manage the premises and to sub-rent them as a flexible office space. In this case, owners often made small profits while maintaining high risks, as the market for flexible office space does not easily adapt to economic shocks (see How rental and co-management agreements work).
It is worth noting that in recent years, there are also owners of premises who seek to create and to manage flexible office space on their own, without engaging intermediaries. They mainly target employees of small and medium-sized businesses or freelancers. Thus, they create competition for large operators, and customers have more opportunities to choose comfortable office space.