There are several types of contracts you may enter into when you rent an executive office. Here’s what the differences are and what you need to know.
If you’re going to rent a private office from an Executive Suites provider you will typically sign a Lease, a Sub-lease, or a Service Agreement.
A Lease is an agreement you enter into directly with a Landlord (or owner) of a property.
A Sub-lease is used when an Executive Office Suites rents from the Landlord and then you rent from them. They become the Sub-Lessor and you are the Sub-Lessee, as parties to the Sub-lease. The benefit of a Sub-lease is that it is a binding agreement attached to the property, so if the Executive Suites company were to go out of business, you would still retain your rights to use your office. Sub-leases run from month-to-month to a year or more.
Service Agreements are sometimes used when renting private office suites, as it is a legal contract between you as the Client, and the Office Suites owner as the Company. However, it is used more often when ‘services’ are provided, like the limited (and not exclusive) use of a private office, conference room, WiFi, mail and address services, etc.. The term can be month-to-month or longer.
My Office Business Suites offers the best protection
My Office – Business Suites uses Sub-leases for exclusive use of our private offices and Service Agreements for our Virtual Office users, offering the most protection to the businesses within our network.
We have flexible plans to accommodate your needs as you grow your business. Give us a call today or come in and see how we can help you.