Moving your brand’s homebase is one of the most important decisions you could make for your company’s future. When shopping around for a commercial lease, business owners have several options to choose from.
Not only does an owner want to rent office space that is functional, but they need to work their way into a lease that is the right fit for their company now and in the future. Before you sign the dotted line on a contract, explore lease length possibilities and make sure that your business isn’t stuck in a lease that doesn’t benefit your overall goals.
How Long are Long-Term Office Leases
Long-term leases start at five year durations. These are a great lease option for a business that is already established and doesn’t see itself making any huge changes in the future.
A brand that takes on a long-term lease will often benefit from perks like enhanced office amenities, monthly rent discounts and preferential treatment for renovations or other physical improvements.
Typically, a long-term lease is very difficult and expensive to break. However, if a business faces difficulties, their relationship with the landlord and negotiation terms could present them with subleasing options or exclusivity clauses that protect both parties involved.
How Long is a Standard Office Lease
A standard lease between 3 and 5 years is something that many business owners accept as the norm. They are a great way for both parties to test the waters on a long-term partnership and can even lead to negotiations that result in paying per square foot and turnkey arrangements that customize a workspace to a certain extent.
Businesses that feel like they may eventually expand but are comfortable where they are, will often take a standard lease and renew it for another few years whenever the opportunity arises.
In a standard office lease, being comfortable within your surroundings is crucial because there is little room for change. Unlike their short and long-term counterparts, it’s not likely that a business will be able to smoothly move offices mid-lease should a drastic change occur within the company.
How Long is a Short-Term Office Lease
Of all lease types, short-term leases are the most forgiving to any renter that is either new to a market or is focused on growing their business, fast. A short-term lease is usually one that lasts between 1 and 3 years. Some office leases like flex units offered at St. Paul Place can see commitments that last weeks or even hours.
Short-term leases help tenants avoid the risk of expensive contract breaches if a business model shifts and a change of scenery is necessary. However, the downside is that with most renters offering office space, short-term leases are hard to come by and don’t come with the benefits that renters would typically gain from a standard or long-term lease.
How can Flex Units at St. Paul Place Make a Difference in Your Lease?
The management at St. Paul Place knows that business owners value flexibility when renting office space. That’s why we are always eager to negotiate a short-term lease that lets businesses have office space when they need it.
At St. Paul Place, the benefits of a short-term lease don’t just end with your business’s freedom to change as it pleases. We also offer unmatched amenities and benefits that rival the most tempting long-term perks.
When a business invests in flex units at St. Paul Place, our short-term lease grants them access to the following benefits:
- Fully-furnished office space
- On-demand hot desks
- Fiber-redundant internet
- Event space
- Communal lounge stocked with local coffee and beer
- Monthly and daily parking plans
Find Your Brand’s New Home with St. Paul Place?
At St. Paul Place, we pride ourselves in offering flex units that provide elegance and comfort to the modern workforce. As a business owner, you should have the freedom to grow at your own pace without the limitations of a long-term lease.
Our short-term leases take the stress out of leasing and ensure that a business of any size can grow their brand with ease at St. Paul Place.
Contact us today to learn more about our available units and to schedule a tour with one of our office managers.