4 ms·
up til now I could see a customer saying "who cares" wrt WeWork's financial situation, the product can still be fine and useful. but if you're effectively subl
by currymj 3y ago
up til now I could see a customer saying "who cares" wrt WeWork's financial situation, the product can still be fine and useful.
but if you're effectively subleasing, and WeWork might not be able to pay their rent, suddenly that seems like a huge problem. is there going to be a giant padlock on the door when I come in to meet with clients tomorrow? Am I going to have to call the sheriff to sort out which property is mine and not covered by a lien against the tenant?
who even knows if these are realistic possibilities given WeWork's specific lease and contract with the subtenant, but if you suddenly have to worry about it, the product is actually worse.
- gumby 3y agoI had not thought of this issue, thanks!
- gitfan86 3y agoShort term this isn't a big deal for current customers. Landlords would prefer to get the revenue you are supplying rather than lock you out of your office. You would be under no obligation to pay your wework membership fee if they locked you out. Your point is very relevant to future customers though. If you are in the market for short term office space why would you chose the one that might shutdown in 3 months.