Do I really save with an "all inclusive" turnkey rental for executive suites?
It depends. It’s nice and extremely convenient to have an office to just move right into without worrying about getting furniture, equipment, etc. You have to find out what you are really receiving for your money and if it’s worth the monthly cost. The best way to do that is to look at some executive suite centers that do not include everything and break it down by rent, services included, etc. Sometimes the all inclusive feature has services that you will never use or they charge alot of overage for their furniture or phone answering. If it’s a difference of say $100 per month or less, it is probably worth it, but if you are talking hundreds of more dollars per month or per annum, then you need to reconsider your choice. Also always make sure that you will not receive a ridiculous rent increase after your initial term with any center. Because of the current market conditions, alot of centers are offering great discounts for move-in, but they will substantially increase your rent if you stay. Always ask if the manager can give you a cap rate or an option to renew at the same rate after the initial term. If they want your business, they will work something out with you. More later…………….
The Las Vegas market is slowly changing for the better, now is the time to either get your company started or keep it going so you are ready for the influx….
Contrary to what you have been hearing, the market is on an upswing in Las Vegas and, with alot of properties getting ready to open, small office space (executive suites) is now back in demand; it’s affordable, turnkey and short term, so there are no long term obligations to worry about and your business can reorganize or downsize and stay strong. Also, if you just need a business address, you can do that for as little as $75 per month! Look around and see what’s out there! More later……..
I am a little leery about doing business in Las Vegas, but my company wants to have a Southern Nevada address to do business. What do you suggest?
There are so many misconceptions about Las Vegas. People think that there are strip joints on every corner and people that live here all work in casinos and gamble every day. Las Vegas is a wonderful place to live and do business. Yes we have casinos, but we are also one of the top shopping meccas in the world and have thousands of wonderful restaurants and businessess OFF of the Las Vegas Strip. It’s kind of like people that live in California; everyone thinks they go to Disneyland or Hollywood every day which is just ridiculous! People that live in Las Vegas or Henderson rarely go to the Strip unless they are employed by a casino and even then, they don’t gamble because they have lives to live. We have schools, parks, recreation, grocery stores, libraries, gyms and much more just like any other town in America. You don’t have to worry about doing business here; just contact our local Chamber of Commerce or the Nevada Development Authority and they would be more than happy to send you information about businesses in our Community! More later……….
Try to stay in business! You can hang on with a Las Vegas address plan!
Alot of businesses are forced to either downsize or even close due to the market change. May I suggest that, if you want to try and stay in business, do a temporary license posting until you can figure out how to keep your business going, because the market will come back over the next year or so and then it will take off! Just make sure that whoever regulates your business will allow you to just hang your license without office space. For as little as $75 per month alot of executive suite centers are offering a license posting at a premier Las Vegas office building in which to receive mail, mail sorting (forwarding upon request), access to business machines, access to conference rooms and signage or, if you need a phone line answered, it will be a little more per month. This efficient and affordable service will allow you to reorganize over the next several months and then when you are ready, you can start in a small office and grow! You don’t have to give up! More later………
I signed a lease for an executive suite and was promised all of these incentives and now they are backing out and saying I should have signed a one year lease; do I have any recourse?
Oh boy, I hear this alot and it’s unfortunate that your experience with an executive suite has not been a good one from the outset Alot of executive suite centers are offering incentives to get you to sign a lease because there is so much competition out there right now. The leasing agent should have been specific about the incentives and not “roped” you into signing a lease. Conversely, you should have asked alot of questions before signing like “do these incentives apply to any lease or do I need to sign a longer term?” or if you looked at an advertisement to get you into the center, did it say anything about getting incentives for a specific lease term. You have signed the lease and, although you have not stated your lease term, what I would do is go to the leasing agent or manager of the center and tell them you are extremely unhappy and feel that you are “trapped”. If they are smart, they will work with you so that they do not lose you as a tenant. You might not get all of the incentives and they will most likely not let you out of your existing lease, but they may give you something that makes you more comfortable with your decision. As I tell everyone, don’t assume anything – ALWAYS ASK ALOT OF QUESTIONS and do your research before you sign a lease agreement. You research homes, cars, vacations, etc., so why not office space???? More later………….
Kristin Cederlind, Leasing Manager
