The internet with mobile apps, combined with poor urban planning, has disrupted traditional brick-and-mortar commercial spaces—high streets, malls, and offices—leaving many empty or underused. The post-war model of long-term leases, once the norm, is steadily declining.
New generations are challenging these rigid structures, giving rise to a vibrant new ecosystem centered on short-term rentals and flex spaces. Yet there’s still no single, unifying term that truly captures the breadth of this sector. Existing labels fall short: they don’t fully represent the diverse range of properties and uses, including pop-up stalls, coworking spaces, self-storage units, parking spots, vacation stays (B&Bs), student accommodation, dark kitchens, and more.
The industry needs an easy-to-understand, embracing term that property users (renters, businesses, travelers) and providers (owners, operators, platforms) can rally around. At squarefeet.app, we’re proud to be the first to coin ‘FLEXLET’—a simple, powerful word that combines ‘flexible’ and ‘let’ to perfectly describe this new reality: flexible, on-demand access to spaces of all kinds.”
Benedict LU
SquareFeet.app
Founder
