| I've got heard “horror stories” about centers renting you a Virtual office, then after the initial lease term, raising or doubling your rents, but I actually want to get a Las Vegas Executive Suite.How to protect my business interests with no need of moving from location to location?
You can see an awesome ad on a luxury executive suite for say only “$650 monthly just for a 3 month with no security deposit - move in now!”. Omg! you may go check out the center and this looks perfect and is also what they say it is, everything seems to stay in line and before you already know it, you may have signed a 3 month lease and everything is greatand you really are doing well, after that without knowing why , you get a notice that your rental increases to $900 every month right after the initial three month period (frequently it's even “hidden” in the lease).
You should verify that you are “protected”. You must make certain of several things before signing any lease. First and foremost, ask them if the rent will raise following the initial term therefore, how much. Many centers do an annual increase of say $35 to $50 a month or so, but some centers do a raise after the intial term of 3 month or six months and sometimes it may be hundreds! You can request them to put a rental “cap” in your lease agreement (most centers will do this), but if they don't, then you have to ask yourself if it’s worth doing business there. Also if you experience comfortable enough, do a long term agreement like six months or a year and you'll be locked into that fine rate for a longer period. You can actually always negotiate 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 and also the new Landlord usually want to make money and may raise the rents. Even though this is not a smart business move on their part and so they stand to lose tenants, they will likely expect a particular return for their investment. It actually might be a good idea to look into doing business with a privately owned or operated center. Ask the management essential questions concerning the lease, rents and terms and you'll not be frustrated.
ViewPointe Executive Suites will help you with all your needs, visit us at www.viewpointecenter.com and make a virtual tour.
Chris - Leasing Manager |
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