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LiquidSpace - anyone using it to monetize available office space?

  • 1.  LiquidSpace - anyone using it to monetize available office space?

    Posted Jun 20, 2019 19:04
    I recently learned of LiquidSpace which can most easily be described as Airbnb for office space.


    No, not that Office Space, I mean office space in general. ;-)

    This strikes me as a good revenue opportunity for some nonprofits, especially those in dense cities who have extra office space. Revenue generated this way would be unrestricted funds and empty cubicles, offices and/or conference rooms could generate decent revenue for minimal effort.

    I'm wondering if anyone is doing this. If so, could you report on how it's worked out for you?

    If not, and if you try it based on learning here - let me know how it goes!

    -JP

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    Joshua Peskay
    Vice President
    RoundTable Technology
    joshua@roundtabletechnology.com
    www.roundtabletechnology.com
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    2020 Nonprofit Technology Conference Logo  w/ Baltimore Skyline


  • 2.  RE: LiquidSpace - anyone using it to monetize available office space?

    Posted Jun 21, 2019 10:25
    I most definitely don't claim to be a tax expert or an accountant, so I would draw upon the wisdom of the masses gathered herein to consider this factor:  what ramifications are there regarding "unrelated business income" if something like this is undertaken?  The mission of most nonprofits probably doesn't include renting their spare office space, so this income, I would think, would fall under that UBI designation.

    Would it make a difference if the "extra" office space was "rented" on an in-kind basis?  Maybe a web developer uses some space for free in exchange for maintaining the nonprofit's website?  Is that a way to handle it legally and frugally?

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    Scott Licht
    National Director
    Lutherans For Life
    Nevada, IA
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    2020 Nonprofit Technology Conference Logo  w/ Baltimore Skyline


  • 3.  RE: LiquidSpace - anyone using it to monetize available office space?

    Posted Jun 22, 2019 17:23
    Also not a lawyer or accountant, but have some experience in this area. There are exceptions which are complex, but the IRS says that space rental is usually not UBIT/UBTI: https://www.irs.gov/charities-non-profits/exclusion-of-rent-from-real-property-from-unrelated-business-taxable-income

    However, other things that orgs would want to review include:
    • if you rent, make sure your lease allows this - what is essentially subletting.
    • if the org owns its space/building, and gets a property tax exemption, then check with the taxing authority on this scenario. In Philadelphia, rental income from a nonprofit's property-tax-exempt property, that's not related to the organization's exempt purchase, is taxable according to a formula I don't know the details of. 


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    Thomas Taylor
    Philadelphia PA
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  • 4.  RE: LiquidSpace - anyone using it to monetize available office space?

    Posted Jun 26, 2019 10:01
    We've had a couple open desks in our office posted to LiquidSpace and other similar sites for weeks, but no bites yet. It's a great idea in theory but based on our experience, it might require a bigger marketing push to actually fill the seats. The market is pretty saturated with coworking spaces these days.

    In case anyone knows folks who are looking for desks in Brooklyn, NY... more info here:
    https://logicdept.com/rent-a-desk/

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    Gina Kosty
    Head of Operations & New Business
    Logic Department
    Brooklyn, NY
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