If you’ve outgrown your current executive suite, you may be wondering if you need to wait for your lease to expire before upgrading to a larger space. The good news is that, in most cases, you don’t!
Upgrading to a Larger Suite: Many executive suite centers will allow you to move into a larger suite without waiting for your current lease to end, as long as they have the space available. In some cases, you can simply transfer to the new suite under your existing lease terms. In others, the center may require you to sign a new lease agreement. Be sure to ask about the specific conditions and options available for upgrading.
Downsizing: If you’re looking to downsize instead, things can be a bit more complex. Typically, you’ll need to fulfill your entire lease term to avoid penalties, such as forfeiting your security deposit or repaying any discounts you received. If you need to reduce your space, check your lease agreement and discuss options with the leasing manager.
Lease Termination: If your needs have changed entirely and you want to terminate your lease, most centers will require a written notice. Make sure to review your contract to understand the notice period and any associated fees.
As always, clear communication with the leasing manager is key to ensuring a smooth transition, whether you’re upgrading, downsizing, or terminating your lease.
Chris, Leasing Manager
www.viewpointecenter.com
