Short Term Leases: How To Find Flexible Office Leases
For many years, several companies have been dreaming about short-term lease solutions but they were not very easy to find. The minimum term for a traditional commercial lease agreement is three years. To some small businesses, being bound to a 36-month lease term is way too long and also expensive. That’s where Tailored Space comes in to help.
- We identified start-ups’ need for flexible and short-term lease agreements to establish their footprints in the market.
- Our company offers fully furnished co-working spaces, desks, offices, and suits — all with flexible terms and configurations.
- We adopt the new wall technology, which allows easy setup and pull down of offices within 24 hours.
- Our offers last on a month-to-month basis. And thanks to this arrangement, renting an office space just got easier and cheaper than ever before.
Can you find a short-term lease?
Under normal circumstances, you won’t find a short term lease agreement that does not last for three years and above. But ever since Tailored Space took it upon themselves to serve small businesses with big office spaces, you can now find short term leases without breaking the bank. Consider the following:
- Before the advent of no-lease agreements, some small start-ups really had a tough time getting office spaces to rent.
- Landlords usually prefer clients who are coming to stay for the long term, so that they can make more money renting their rooms for one year, two years, and above.
- Tailored Space is different in the sense that it provides clients with bespoke office layouts with no lease attached. The offices are dynamic and so can be tweaked to suit the needs of companies, any time.
- With office campuses located around several communities, companies will feel relieved as they utilize fully furnished and tailored offices.
How to get a more flexible lease office
Obtain the right to terminate the agreement anytime
For a lease that lasts for the long term, you should try to get a clause that will assure you the right to exit the deal, as and when the need arises. There may be some fees attached to the provision. But at least, paying to exit for other attractive deals is far better than being stuck in a bad long-term lease.
Open room for renegotiation
Some landlords give their tenants a chance for future negotiations. You may want to strike a deal with a landlord who has a clause for this flexible lease term. Even if you do not want to exit the agreement, a renegotiation clause will allow you to change the contract even after you have signed it.
Include Expansion and Contraction Clause
The direction of your dialogue with your landlord will ultimately determine whether you will get a flexible lease agreement or not. Tenants who are likely to demand more or fewer office spaces in the future should consider adding expansion & contraction clauses to the deal.
Guarantee a renewal right
To make your lease term even more flexible, ask the landlord to include a clause to ensure that you can renew the lease when it’s due. However, your seeking for this clause boils down to how you feel about the office space. Ideally, you don’t have to waste your time seeking a renewal clause when you know you don’t really like the place that much.
Still unsure if a flexible lease office option is right for you? Contact TailoredSpace with your questions, today!
The era of flexible office spaces
Flexible space is a terminology that describes a wide range of offices that are available for occupiers to rent and effectively collaborate with their teams. By far, co-working is leading the flexible space types.
Executive suite and incubators then follow up next. Co-working spaces are more common to find in densely populated communities. On the other hand, executive suites are usually situated in suburban localities close to employment centers.
Statistics show that almost 50% of large corporations patronize flexible office spaces. Projections estimate that before the end of 2020, about 65% of corporations will be incorporating co-working to bolster their office portfolios.
Why are companies fast-adopting flexible office spaces?
Here are some reasons why many businesses have begun leveraging the flexible space industry:
- It reduces their occupancy costs
- Provides room for agility while companies are growing up
- They can avoid being tied to unfavorable long-term lease agreements
- Allows companies to scale their staff flexibility
- It protects organizations from highly volatile real estate markets
- Makes it easier for start-ups to penetrate the industry
When is it right to rent a flexible office space?
Short-term office spaces are convenient for companies on different occasions. They can be used for group meetings or a one-on-one meeting. Seasonal projects can also be held in the premises of flexible office spaces.
The following examples vividly illustrate how organizations use flexible office spaces to their advantage:
- Start-ups who lack decent buildings have used flexible office spaces to hold meetings with investors. They went on to make a great first impression.
- Hospital directors can book flexible executive offices to hold job interviews away from the noisy and busy hospital environment.
- Companies can use flexible offices to prepare income tax returns for clients.
Irrespective of what type of office a company needs, TailoredSpace has a variety of plush flexible spaces to meet your demands.
To summarize, gone are the days when start-ups and prominent businesses would struggle to rent rooms for short-term purposes. TailoredSpace is the best bet for all companies that want to lay a solid foundation for their operations, and settle down quickly.
Get to work from the word go, and save your company from long hours of downtime by choosing TailoredSpace. You do not have to worry about your lack of basic equipment such as printers, furniture, and other amenities. Get in touch with TailoredSpace and rent your dream office at an affordable and flexible rate.
Ready to find a flexible lease that works for you? Contact TailoredSpace with the following to get started!
1730 W Cameron Ave, Suite 200
West Covina, CA 91790
3600 Lime Street, Building 2
Riverside, CA 92501
2888 Loker Ave East, Suite 110
Carlsbad, CA 92010