Why a "GROSS" Lease is a Beautiful Thing

Fri, 29 Jan 2021 20:44:16 GMT

For people outside of the commercial real estate world, a ‘Gross Lease’ sounds like something that must be, well, gross - like brushing your teeth right after drinking orange juice or finding last Easter’s colored eggs decomposing in the yard on a hot summer day. But the truth of the matter is quite opposite: a gross lease is truly a beautiful thing and at NW Flex Space, we’re proud to provide gross leases for all of our tenants.

To understand the benefits of a gross lease, it’s important to know the alternative. The majority of commercial leases are some form of a Net Lease. With a Net Lease there is a starting monthly rent amount, then the tenant is responsible for some or all of the property costs on top of that, which can become an unknown variable expense. This may include utilities, insurance, maintenance, and property taxes.

There are three types of net leases. With a single net lease, the tenant pays rent plus property taxes. The double net lease includes rent, property tax, and insurance. Then there is the triple net lease that includes the triple whammy of rent plus property tax, insurance, and maintenance. There can be variable expenses in these leases that are hard to plan for. For example, if you are responsible for maintenance and the HVAC unit goes out, you may be facing a hefty bill to replace the infrastructure on a building that you don’t own.

And the charges may not stop there. In many commercial leases, tenants are also charged for Common Area Maintenance, known as ‘CAM’ for short. CAM’s covers the cost of upkeep and work performed on the areas utilized by all the tenants, such as hallways, sidewalks, parking lot, elevators, etc. This charge is determined as a percentage of the tenant’s space vs. the total rentable square footage of the property.

I n a gross lease, there are no surprises. Each tenant agrees to a set monthly rent amount that doesn’t change, which is a wonderful thing for staying on budget. One monthly payment will cover your rent plus reasonable usage of your electricity, gas, water, trash and WiFi.

At NW Flex Space, we go beyond the basics and include other items in your gross lease, including access to a commercial-grade copier/printer, conference room, staff kitchen, security system, and a shared forklift for those heavy loads.

If you are seeking a new space for your business, the best advice is to go into the transaction with your eyes wide open. Ask a lot of questions, read the fine print, and seek advice from wise consultants. At the end of the negotiations we think you’ll agree with us - a Gross Lease is a beautiful thing!

Discover the Perks Tenants Enjoy at NW Flex Space

Wed, 06 Jan 2021 00:40:52 GMT

You’ve heard about the incredible perks that workers at Silicon valley companies like Google and Apple are given. Employees enjoy luxuries like ping pong tables, beer gardens, and personal chefs on their campuses. And while high-paid engineers enjoy these amenities, there are still benefits to be found for the rest of us. At NW Flex Space, we work hard to provide a wide range of perks for the business owners and employees in our community.

Affordability

Flexibility is a major benefit for businesses today. And to find flexibility that is also affordable is a great discovery for business managers and owners. NW Flex Space is that great discovery. We have facilities ranging in size, shape, function, and most importantly, price. No matter your budget, we can find a facility for you. Saving money is crucial for start-up businesses and an ongoing focus for established companies. Our gross leases provide exceptional savings, but it’s just the first perk that our new tenants discover.

Technology

Who hasn’t waited weeks for communications companies to install new phone lines or internet service? In today’s connected world, there’s no time to wait. That’s why NW Flex Space provides FREE High Speed Internet. The day you move in, you’re online. We also provide centralized office copier/printers, which requires one less item for your company to lease and pay maintenance fees on. And for the underlying technology that drives everything else, let’s not forget POWER! Our warehouses are already wired for companies with heavy power needs.

Business Essentials

Every office needs the essential spaces – employee break rooms, client reception areas, and conference rooms for meetings. At NW Flex Space, it’s check, check, check! We have all of that and more, to help create a work environment that your employees enjoy working at. And we haven’t even mentioned the available forklift and overhead hoist for heavy lifting.

Community

Perhaps the most valuable perk is the community of businesses who work within NW Flex Space. Friendships are made and businesses find ways to support each other among the tenants of our office and warehouse spaces.Working together, we can support each other in business growth.

Discover all the perks that NW Flex Space has to offer your business. Contact us to take a tour today!

NW FLEX SPACE NEWS, UPDATES AND HAPPENINGS

Why a "GROSS" Lease is a Beautiful Thing

Discover the Perks Tenants Enjoy at NW Flex Space