All posts tagged office

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.

 

You Can Never Have Too Many Amenities

One of the many advantages that come with an executive office suite are all of the amenities that are included in your lease that make your business life easier and more productive. Many, if not all, of these services are included at no extra charge.
They include:

On-site Office Manager. The Office Manager is on-site Monday-Friday to manage the facility and insure that the services you count on are always available to you. They are also there to help you set up the plan that’s right for you or to answer any questions you may have.

Upscale Décor. The modern decor is upscale and professional which greatly aids in the perception your visitors and guests have of you and your business.

Convenient Location. You don’t want your clients, prospects and visitors to have to spend an inordinate amount of time searching for your place of business. Quick, convenient access with plenty of available (hopefully free) and well-lit is a must.

A plus is if the center is located in close proximity to hotels, restaurants and shops.

Security. The user-friendly security system allows for 24/7 access to your office plus a safe working environment.

State-of-the-art Conference Facilities. Available by reservation and equipped with appointment and offers all of the assets you need to conduct a successful meeting. Such assets include Wi-Fi access, 3-way conference speaker phones, white boards, liquid refreshments and presentation equipment.

Concierge Services. The concierge attendant is available to assist you with meeting and catering planning, dinner reservations and any other professional needs that may arise.

State-of-the-art Answering System. The phone system provides a personalized telephone answering service plus 24-hour voice mail and message retrieval. Added value is obtained if the voice mail message is carbon copied as a wav file and emailed to you.

High Speed Internet. High-speed access provides always-on Internet.

Copy/ Facsimile. For your convenience, a copier and facsimile machine are available for your use. This saves you from having to commit to a long-term rental and/or service agreement.

Mail Service. Along with a prestigious business address, you should receive a private mailbox for your incoming mail.

Utilities, Janitorial, Maintenance Services. Your lease should include all of these which ensure a professional, functional working environment.

A La Carte Services. You should be able to access a wide variety of professional business services to support you in running your business. This saves you from having to employ an executive assistant or or administrative staff. Typical services include:
• Research/respond to RFP’s
• Production jobs
• Evening meeting services
• Information Management
• Website services
• Creative services
• Invoicing
• Professional administrative services
• Witness services
• Scanning service
• Printing services (color, black and white)
• Facsimile service
• Express shipping, postage and private courier services

You will find all of these amenities, and more, at Executive Suites at Lakewood Ranch. To learn more call us at 941.373.1400.

Traditional vs Shared Offices and Executive Suites

With 10+ years of experience within the Executive Suites (Shared Office Space) industry, I have seen many vital aspects of both Traditional Office Space and Shared Office Space change. The economy has helped shaped both of these industries terms pretty drastically and for technology has a more prominent role in their service offering than ever before.

The Economy is healing but at a slowed pace. Traditional Office Space is going through some pretty sever changes and is struggling to stay relevant. Building owners are trying to keep their units rented by discounting their Per Square Feet rates, playing with term lengths and find it a challenge to keep their CAM costs under control. When it comes to bigger corporations and organizations (Fortune 500 for example or the US Government, etc.), their goal is to lower their real estate foot print and increase employee productivity. This is where Shared Office Space comes into play. Executive Suites such as Executive Suites at Lakewood Ranch find an increase in corporate tenants and large organizations. These types of clients no longer find value in renting out thousands of square feet to house a few new employees; now it’s all about one person offices or shared offices and maximizing their productivity. This same principal also applies to small business owners who once found prestige in renting out a free standing building or a spot in a strip mall but now it’s about cutting their expenses and going to a less traditional space.

With an Executive Suite business model, you get a shared receptionist to answer your calls (no more expensive payroll), you only use the space you actually need. Furthermore you are surrounded by other like-minded individuals from small business owners to account executives of larger corporations. Think of the great possibilities of in-house networking!
Technology has changed an awful lot as well. When I started my career in this industry, cell phones were current technology and the Internet was just starting to make its mark on industry and society. Cell phones were used to make “quick and brief” calls or during hours where it was free to dial out (“call me only after 7pm or on weekends”). Now cell phones are pervasive and have morphed into smart phones with all that their expanded technology entails.

Internet speed has increased exponentially and has created an improved method of communication known as VOIP technology. Cell phones and VOIP are not only a major method of communication but they are also a way to advertise our businesses, receive our voice mail and text messages and help us with directions to our next appointment. Furthermore, the innovation of smart tablets and much smaller portable computers have shifted the dynamics of how we report to the “office”. Today’s business professional needs a lot less space in our modern world to work. That is why places like Executive Suites at Lakewood Ranch with smaller offices and collaborative work spaces are the new norm. Save on overhead, find a professional place other than a Starbucks to conduct your business (and still get great coffee) and close some deals…isn’t that what all small business owners strive for?

What Are Executive Office Suites?

Executive suites (also known as office business centers, serviced offices, and temporary or short-term office space) provide office space typically in a Class A office building with flexible terms and more services than that provided via conventional office space. The business owner rents a private (usually furnished) office and shares common areas such as lobby, conference and meeting rooms, and break areas. You also share a receptionist, copiers, and other office equipment such as video conferencing gear. The centers, offices and conference rooms are already finished with professional, high-end decor, furniture, and amenities. Executive Suites at Lakewood Ranch provides all of this and more including daily housekeeping and building maintenance.

Executive suites give small businesses access to corporate-style amenities, atmosphere and technology without a large up-front investment. The services you will find at Executive Suites at Lakewood Ranch include personalized telephone answering services, high speed Verizon FiOS Internet access, mail services, and administrative or clerical support.

There are an estimated 4,000 office business centers operating in the United States. As the many advantages that these centers have to offer are becoming better known, both small and large businesses are increasingly using them to meet their office needs.

Executive Suits at Lakewood Ranch is privately owned and also owns and manages the building that its suites are located in. On-site management insures that your business needs are attended to immediately.