Before You Lease An Executive Office Suite or Virtual Office Read This!
Here are five things you can do to avoid the mistakes that a lot of small business owners make and later regret when they sign and Executive Office Suite lease.
#1 MAKE SURE THE LEASE IS MONTH-TO-MONTH
You will be surprised how many small business owners want to lock in a price and then all of a sudden, they outgrow the stay or need to downsize for some reason. It is a myth that companies what to jack up rates and why a month-to-month lease is always better on small office space. If you read the lease, you will see they usually have an out anyways if the location or business is sold.
What you should do is look for smaller companies like Executive Office Suites Scottsdale who only do month-to-month leases and have never increased their prices. Ask the company on what you can expect for increases.
#2 FIND OUT WHO THE OTHER TENANTS ARE
There is nothing worse that leasing a space and you find out later there is someone in there from a previous life, and even worse there is a profession that conflicts with your Company or Broker Dealer compliance requirements if you are in a financial or insurance industry. Walk around and meet some of the tenants before you ever sign a Executive Office Suite lease.
#3 READ THE LEASE
So many small business owners just sign their Executive Office Suite Lease without knowing that you can cross out lines on the lease all day long, and all they can say is no, it has to be in there. Another situation that comes up is that small business owners coming from home offices like to have their dog with them, but the lease and normally city ordinances will not allow it.
If you want your dog at work with you occasionally, make sure there is language in the lease and do not take it verbally from the leasing agent as they will most likely move. One of the main reason for this is liability (dog bites) and others may be allergic.
In addition, if the building is in an association, the Executive Office Suite lease will usually indicate that all CCR ( Covenants, Conditions, and Restrictions – rules of the association) rules must also be followed, yet you will not have a copy of them. Make sure to request a copy of the CCR’s for the leasing agent.
#4 YOUR ARE NOT ALLOWED TO FORWARD MAIL ONCE YOU MOVE ON
If you have your mailed delivered to the office suite, you will have to contact all your vendors and have them change the address if you move. The post office will not forward mail and if for some reason they do and all mail for the Executive Office Suites are re-rerouted, you may have a legal problem, especially since it is very standard that an Executive Office Suite lease will have a specific standardized clause that is very clear about this!
#5 WHAT OUT FOR SURPRISES
When you parents told you nothing in life is free, believe them! Many Executive Office Suites and Virtual Office companies will get you in with a teaser base rate, but then they start to add on all the amenities and BOOM your monthly rate goes through the roof. So make sure your Executive Office Suite lease and invoice document your exact services that you will have on your monthly bill so there are no surprises.
Here are some surprise examples that may be found in an Executive Office Suite lease? How about you are charged $35 per person for coffee whether you drink it or not, YEP! When you move out, there is usually rekeying fee, make sure to ask how much it will being. If you are using their phone facilities, ask for any unauthorized calls on your line as they can add up fast, especially if a janitor is making calls. Make sure to have them lock down all the basic prefixes and international calls.
#6 DO NOT ASSUME YOU WILL GET YOUR COMPANY NAME ON THE DIRECTORY, DOOR OR WINDOW
Make sure your Executive Office Suite lease details out exactly what signage you will receive and any associated upfront or removal cleanup costs.