How do I protect my business interests without moving from location to location when leasing a Las Vegas Executive Suite?

You see an ad for a luxury executive suite that maybe says “$650 per month for a 3 month lease and no security deposit — move in today!”. Sounds Great! You go visit the center and it looks great and everything seems to be in line and before you know it, you have signed a 3 month lease and everything is going well, then all of a sudden you get a notice that your rent will increase to $900 per month after the initial lease term (sometimes it is even “hidden” in the lease).

You want to make sure of some things before signing any lease. First, ask them if the rent will increase after the initial term, and if it does by how much. Most centers do an annual increase of say $35 to $50 per month or so, but some centers do an increase after the initial term of 3 month or 6 months. Sometimes it can be hundreds of dollars! You can ask them to put a rental “cap” on your lease agreement (most centers will do this), but if they do not, then you have to ask yourself if it’s worth doing business there. If you feel comfortable enough, do a longer term lease like 6 months or 1 year and you will be locked into that great rate for a longer period. You can always negotiate a renewal, make sure to do so before you sign anything!

Corporate or Nationally owned executive suites will think nothing of selling their center and the new Landlord will want to make money so they will increase the rents. Although this is not a smart business move on their part and they stand to lose tenants, they will expect a certain return for their investment. It actually might be a good idea to look into doing business with a privately owned center.  Ask pertinent questions about the lease, rents and terms and you will not be disappointed.

Whether it is for an executive suite space or just a virtual office lease, ViewPointe Executive Suites can help. Visit us a www.viewpointecenter.com and take a virtual tour. ViewPointe Executive Suites now offers an Electric Vehicle Charging Station on the premises. Contact 702-990-8800 for more information.

Chris – Leasing Manager