Electronic signatures are nothing new but we’ve been observing an increased adoption among coworking and flex spaces lately. And while the ability to manage contracts digitally in times of a global pandemic is probably the main reason for this, there are also plenty of other benefits of electronic signatures.
The main benefits of using electronic signatures in your space are increased contract speed, enhanced security, cost reduction, and last but not least, better customer experience.
Increased contract speed means that instead of running back and forth in your space, chasing members to give them a piece of paper, and then wait for them to find you and give it back to you, you simply send them all necessary documents via email. They can open, review, and sign them whenever they can, from wherever they are – at your space, at home, in the gym. Same for you! Digitalizing the contract process makes the process faster, more efficient, and more convenient for both parties.
Paper documents are always prone to damage, loss, or third parties people accessing them. On the other hand, electronic signature solutions have strong encryption algorithms that keep all your documents secure. Also, they keep information on who, when, and where signed a contract, which makes it easy for you to keep track of any changes made to the document.
Using electronic signature will reduce costs for paper, toners, packaging, shipping…and not last – space to store all those paper documents. Printing tens of pages, just to find out you’ve put the wrong number and now have to correct and print it again, is definitely not good for you (nor the environment 😉 ). Electronic signatures will save your staff plenty of time, which they can invest in doing more valuable work – like finding leads or selling desks.
Your members will be delighted by the speed and efficiency of your contract process! Signing contracts electronically will save them plenty of time and effort. Turning mundane, boring administrative processes into convenient and easy clicks here and there will enhance the satisfaction your customers have with your space and service.
Now, let’s go to part 2, where we’ll show you how to enable electronic signatures in OfficeRnD thanks to our integration with Dropbox Sign.
Imagine you have a client that is ready to move into an office. They have expressed interest over the phone and are ready to review the legal documentation and sign a contract agreement!
The Membership Agreement is more popular in the Coworking World and is a way to put a framework and structure around the relationship between you and your members.
On the other hand, the License Agreement is more structured around the exact office that is provided to the customer. Originating from the Serviced Office industry in the United Kingdom, the License Agreement has more strict rules about its structure and data that it holds.
The Lease Agreement, also known as a Tenancy or Rental agreement, is usually signed between a Tenant and a Landlord. Broadly put, a lease agreement is a contract between two parties, the lessor, and the lessee. It is important to note that the Lease agreement usually has more legal consequences.
All of the above templates can be customized and you can contact us at s[email protected] to customize them according to your design.
For this example, we are going to create a lease agreement for the office. Select the “Add Contract” Button and select your contract type.
The contract will ask for a couple of key pieces of information to fill including:
You should also select the “Contract Terms” that will be included as legal verbiage within the contract. These documents can be created and modified in the “Terms and Conditions” section.
After the contract has been created click on the Cogwheel next to it to pull up some quick actions. You can edit the existing contract, send for eSign, generate a PDF, cancel or delete the contract.
First, let’s click “generate a pdf” to get an overview of how the contract will look with the client’s information.
Once you are happy with the contract click on the “Send for eSign” to send a document to the customer for eSign.
OfficeRnD charges a set amount per digital document sent. This charge will be applied to your monthly invoice.
The customer will be guided through a series of prompts and be asked to sign the document.
After Sarah has signed the contract you will get notified and be asked to sign the document from your end as well.
Once the contract has been signed by both parties the client will get a notification letting them know and the ability to download a signed PDF version of the contract.
The operator will also get a notification that the contract stage has been changed. Then, the memberships will be applied to the account.
Congratulations! You have just sent a document view eSign for signature! If you have any questions about this process please feel free to reach out to [email protected]. We are happy to help!
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