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How do I protect my business interests with no need of moving from location to location?
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How do I protect my business interests with no need of moving from location to location?
Date Added: April 18, 2011 11:20:48 AM
Author: hectrix
Category: Real Estate: Rent

I have heard “horror stories” about centers renting you a Virtual office, then right after the first lease term, raising or doubling your rents, but I really need to get a Las Vegas Executive Suite.How should I protect my company interests with no need of moving from location to location? You can see a very good ad on a luxury executive suite for say only “$650 per month just for a 3 month with no security deposit - move in now!”. Amazing! you will go go to the center and this looks perfect and it's also what you say it is, everything seems to stay in line and before you know it, you have signed a 3 month lease and things are greatand you are achieving a lot, then without knowing why , you have a notice that your lease will increase to $900 every month after the initial 3 month period (frequently it's even “hidden” on the lease). You should verify that you are “protected”. You should make certain of several things before signing any lease. First, question them if the rent will increase following the initial term and if so, how much. Many centers do an annual increase of say $35 to $50 each month or so, however some centers do a raise right after the intial term of 3 month or six months and often it could be hundreds! You can question them to put a rental “cap” on your lease agreement (most centers will do this), but if they don't, then you have got to ask yourself if it’s worth doing business there. Additionally if you feel comfortable enough, do a longer term agreement like six months or one year and you'll be locked into that fine rate for an extended period. You can actually always discuss a renewal, but do so before you sign anything! Several “corporate or nationally owned” Virtual office executive suites will think nothing of selling their center as well as the new Landlord will usually desire to make money and may increase the rents. Even though this is not a smart business move on their part and they stand to lose tenants, they are going to expect a certain return with their investment. It really may be a good idea to look into doing business with a privately owned center. Ask the management important questions concerning the lease, rents and terms and you'll not be frustrated. ViewPointe Executive Suites can help you with your needs, check us out at www.viewpointecenter.com and take a virtual tour. Chris - Leasing Manager
 
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