HiRise could cut out the costly and time-consuming middle man within the real estate industry.
Based on a similar model to Airbnb, HiRise is an online service that helps prospective tenants rent office space online without hiring an expensive broker. Covered in our Future of Work report, coworking is continuing to be one of the top trends in the tech and commercial real estate industries, brought to the fore by the younger generation seeking not only new and fresh ways to work and collaborate, but creative environments that have fewer rules and regulations involved.
Powered by Jones Lang LaSalle, the professional services and investment management company specializing in real estate, the project will launch in May for workers seeking small, short-term deals on potential office spaces in Washington, DC.
Dubbed “a new transactional marketplace for space,” HiRise users will be able to search for potential spaces via an interactive map and useful filters like availability dates, rates, number of current employees and capacity. Once a potential spot is found, users can then lay out the space, using the site’s automated occupancy planner to add potential coworkers and figure out costs. The team can then download and fill in the lease, generate approvals and make the payments all online without getting brokers involved.
These types of quick and convenient agreements are beneficial for both parties. If the system, works correctly and efficiently, the landlord will see a steady flow of people coming into smaller spaces that typically aren’t filled. The tenants can also make speedy decisions without having the pressures and financial worries of signing themselves into a lease for many years.