All posts in Leased Office

Category for blogs postings referring to leased office space.

Your Office, Is It Better To Lease Or To Own?

As with any decision in life there are two sides to every situation. If you are currently considering whether you should lease your office space or buy it you may wish to include the following in your deliberations:

 

  • Would you be a better landlord than your current lessor? When you’re your own landlord, you don’t have to worry about whether your rent payment is inflated because it is a profit center for the landlord. You have the ability to control some of your expenses.
  • Are you changing office locations frequently because of rental rate or common area maintenance increases?Moving takes time and money, which could both be better invested in buying a space. Not to mention it would be nice to know what your debt service will look like in the future as opposed to experiencing market fluctuations every once in a while.
  • Would you rather your monthly rent payment be an investment?No one likes spending a lot of money every month on rent. Buying won’t rid you of those monthly payments, but instead of giving that money to someone else, you are investing in an asset.

However, buying versus leasing doesn’t mean it’s the right decision for you.

  • Is relocation/significant expansion/downsizing slightly possible in the next few years?Buying is a long-term commitment. Unless you’re purchasing office property solely as an investment, your company’s growth or downsizing expectations will play a role in your decision.
  • Is location important?Some businesses may need to be in a specific part of town. Unfortunately this may eliminate the advantage of locating in up-and-coming areas where the market may be more conducive to your business.
  • Is your current lease structured as a full service lease? If you’re currently leasing, the building manager most likely has a cleaning and maintenance crew that empties the trash, replaces light bulbs, maintains the bathroom, etc. Oftentimes potential buyers take janitorial and maintenance services, utilities and services such as Internet and phone service for granted and forget to factor it in their buying considerations. You must be willing to take on or hire out these responsibilities if and when you buy.
  • Would your equity be better placed in your business?If you only have capital for one investment, your business may be a better choice than buying a building. Similarly, your time may be better spent working on your business rather than maintaining a building.

 

Leasing an office or set of offices from Executive Suites at Lakewood Ranch gives you flexibility in terms and payments and you will be located in the ever growing and trendy Lakewood Ranch area.  We also provide all of the external services you need which means you won’t be taking out the trash each night.

 

Check our website,  ESLR Offices, check our specials and check out our offices and prices. Your decision to lease versus buying may become a very easy one for you to make.

With Office Rents On The Rise, Should I Consider A Sublease?

Subleasing can be a great way to obtain short-term office space at a lower market rate, however make sure you review both subleasing and direct office lease opportunities and carefully review both the sublease and the sub-lessor’s original lease and understand your obligations. It is imperative that you seek legal advice before signing anything as subleases are legal binding agreements and are also dependent on the original lease.

Subleases can be complex because they involve three parties: the landlord, the sub-lessor (the person or organization that signed the original lease and who you will be subleasing from) and the subtenant (you) as well as two documents: the master or original lease and the sublease. To further complicate matters, there is no direct contract between the landlord and the subtenant. And all this is possible only if the master or original lease allows for a sublease.

Whether you are a sub-lessor or subtenant, there are a number of things to keep in mind to ensure a successful sublease:

  1. Breaches of the lease: If your sub-lessor goes into liquidation, defaults on payments or breaches their lease, it will affect your sublease as well.
  2. Maintenance/repair delay: If you need repairs or require additional services provided by the landlord, you will most probably need to go through the sub-lessor to make it happen. This may cause delays and have an adverse impact on your business.
  1. Your image/brand: Subleasing means that you could be limited in how you present your business, including any allowable signage, advertising, and decor. It can help to sublease from someone in a similar type of business or with a similar image.
  2. Is the Rent Really Cheaper?: Some sub-lessor’s sublease their office space in the hope of making a profit.
  3. Are You Stuck With Something ?: If the sub-lessor negotiated an unfavorable deal with their landlord, they may try to pass on certain fees and higher rent to you. Be sure either you or your attorney read both the sublease and original lease. Make sure you are not limited in how you can use the property.
  1. Sub-lessor’s Business: When subleasing, be sure to do your homework on what business your sub-lessor is conducting. It may conflict with your business or ethics or it may be extremely noisy. Also be aware of any legal disadvantages if you do have problems with either the sub-lessor or the landlord.
  2. You, the Sub-lessor and the Landlord: Finally, even though the transaction is with the current tenant of the office space, it is not necessarily two party negotiation, but potentially a three-way negotiation between landlord the tenant and the sub-lessee.

    Make your life simple, don’t get a sub-lease. Contact Executive Suites at Lakewood Ranch to get the best rates and terms on an office that you lease directly. By getting your office at Executive Suites at Lakewood Ranch items 1 through 7 from our list above will not apply to you and therefore will never give you headaches or cause you to lose sleep at night.

 

What’s So Great About An Executive Suite?

If you are just starting a new business on your own, or are opening a new office in a new city, it’s imperative that you give your business the best opportunity to succeed while keeping your costs under control. Allowing you to accomplish this is what an executive suite is all about.

First of all you won’t have to make a long-term commitment to a building. Typical executive suite leases are 1 year or less. And, the suites are usually located in a professional area and in a prestigious office building which means you won’t have to pay for location. Nor will you be paying CAM fees. Nor will you have to pay deposits for utilities. If the electricity goes out or the plumbing or HVAC has problems it’s not up to you to get it fixed. That’s the job of the center manager and that saves you time and money.

Executive suites are typically fully furnished. That means you won’t have to buy or rent furniture. This includes furniture for conference room(s), break rooms and the like. Nor will you have to have it moved in or moved out if you leave.

Executive suites typically have a community copier and fax machine. You don’t have to commit your money to buy or purchase these items as you pay only for use.

Executive suites have a telephone and Internet infrastructure already in place. You don’t have to arrange for their installation, fix them if they break, or capitalize them for tax accounting purposes. You pay for only what you use. And, the phone system usually comes with live answer before transfer but you don’t have to hire the operator which means no personnel expense for you.

And while we are on the subject of personnel most executive suites have a furnished and staffed lobby area which is another person you don’t have to hire and another room you don’t have to furnish.

Well run executive suites, such as the ones you will find at Executive Suites at Lakewood Ranch, are set up so that you can come in on a moment’s notice, pick your office and go right to work. Everything is there waiting for you. It’s truly plug and play with almost no pay.

 

 

Benefits of an Executive Office Suite

Everyone needs to watch their cost of doing business and this is especially true if you are just starting out on your own or expanding into new markets. If you decide that you will be needing a physical office space then the next step is determining how much that office is going to cost you. If you look at the costs of owning or renting a traditional office then you must factor in expenses for:

Property acquisition, (either purchase or lease)

Property, Casualty, Liability insurance

Real Estate taxes

Furniture

Equipment acquisition – copier, phone system, fax, scanner, postage meter and subsequent maintenance

Utilities – electric, water/sewer, trash pickup, Internet and deposits for same

Services – housekeeping, pest control, infrastructure repair

Kitchen/break room appliances, furnishing and subsequent maintenance

Personnel – lobby and reception.

And, whenever anything breaks or needs attention it’s all on you to make things right. Do you have the time or resources for that? Maintenance situations like air conditioning system repair is never inexpensive. However, all of these concerns and expenses go away when you rent an executive office suite. The executive office suite provider, such as Executive Suites at Lakewood Ranch, takes care of all of this for you.

Other benefits of an executive office suite include:

 

  • Flexibility — Most providers do not require long-term agreements and it is usually easy to scale your operations up or down. Rental agreements for executive office suites average from one to 12 months.
    • Services – Many plans offer shared services for all tenants in the establishment. For example, there may be a front desk receptionist for the entire building or floor. A daily postal and parcel service is commonly available.
    • Networking opportunities – The shared executive office suite environment offers opportunities for networking with other tenants in the same building or floor. Some business centers specifically focus on inter-office networking and trading by offering related events and resources.
    • Professional image – The executive office suite setup allows businesses to rent attractive professional office space at cost-effective rates. To set up similar office infrastructure independently might be too expensive for many small businesses.
    • Time savings – Because the rental company takes care of all the maintenance tasks that concern the office building including cleaning, building repair, IT connections and administration, the tenant companies and organizations can concentrate their time and efforts more fully on their central focus and mission.
    • Amenities – Among the amenities generally included or available at these executive office suites are parking space (possibly including covered parking), conference room facilities, break rooms, training rooms, video conference equipment, kitchen, restrooms, fax/scan/copy machines, lounge areas, waiting areas, postage metering, office assistant services, and on-site security services.

 

An executive office suite provides clients with the opportunity to conduct business in a professional manner and project the right image while saving money. For many smaller businesses, especially start-up companies, these setups offer a way of maintaining professional offices that would be too difficult to sustain independently while providing flexibility for up-sizing and downsizing.

 

Contact us at Executive Suites at Lakewood Ranch and discover how an executive office suite can best work for you.

 

Renting an Executive Suite Can Help Entrepreneurs Succeed

Executive suites are an ideal solution for entrepreneurs/solo practitioners/branch office personnel to conduct their business in a professional environment. They save time and money and often include the following amenities:

  • 24/7 access to the office
  • Professionally staffed Reception area and furnished lobby
  • Wired or wireless Internet
  • Parking on-site
  • Common areas and break room
  • Shared equipment such as a fax/copier/scanner
  • Meeting rooms for conferences
  • Video conference service
  • Enhanced telecommunications solutions

Networking

Renting an executive suite has networking benefits as well. Typically accountants, realtors, insurance and legal professionals are the types who seek out an executive suite. By having so many professional workers in one space, you’ll be able to network, work together, or even exchange services and help each other out. It’s always nice to add to your business contacts, and sharing a professional suite can help you do just that.

Saving Time

Executive office suites save you time; all the maintenance, cleaning, and administration work is taken care of, and included in your fees. If there is a problem with any part of the infrastructure, telephone, electricity, Internet, etc., it’s up to the management of the executive suites complex to fix it, not yours.

Saving Money

All of the tenants in an executive suite share costs for the amenities, and that lessens the burden of a small business owner. There’s no start-up cost for furniture, equipment, utilities, copiers, fax machines and other business expenses. No utility deposits to concern yourself with. It’s easy to manage because you know exactly how much you need to budget per month. If you need to upsize during a busy period, that’s easy to do with the flexibility of an executive suite. Then during your slower months, you can downsize your office so you’re not paying for space that you don’t need. The options are endless with this type of business arrangement.

The vast majority of executive suites are conveniently located to Interstates, busy arterial roadways, courthouses, airports, hotels, restaurants, banking institutions and the like so they can easily facilitate your business needs.