Coronavirus and Auto Renewal of Leases
Do you have a copier lease that is expiring in April or May? One of the interesting things is there is generally a lease provision in your copier lease which automatically renews sometimes for up to a year. This is a quick PSA for clients to make sure they are keeping an eye on their expiring copier leases during this time.
One thing we wanted to remind people about, especially during these times, is to give the proper notification on the ending of your copier lease so you are not stuck in the old lease for another month (or year with some leasing companies.)
We get a lot of people may not be looking at getting a new copier, especially at the time when no one can go into the office. So this post isn’t trying to get people super excited about getting a new copier today. This post is more to make sure you are not stuck in a copier you don’t want to be in when the economy and worklife returns to normal.
If you are looking at your contracts, it may be a good time to see if you are getting a good deal now and make a plan for the future of when things go back to normal. We can help you look at your contract to make sure you are getting a good deal and make sure you hit your timing the right way. It is important to make sure you are clear with your leasing company when you are ready to return the old copier.
We have heard from a lot of people they are not ready to look at the new copier because of coronavirus. This makes a lot of sense, but if your copier lease ends in May, it gets trickier. Do you want to be stuck with the copier until next May or pay month to month on a copier you are not using? If you are not in the office, letting the leasing company know what your intentions are matters. This could save you a few hundred dollars a month.
Our commitment during these times is to ensure we educate and inform people. We know business can be tricky during these times, we are with you. If you have any questions about how to deal with or handle your copier leases, please let us know. We want to ensure we are helping our clients and future clients in the Denver area stay solvent during these times.
For clients who are ready to get their operations in tip top shape and are awaiting the green light to get back to work, we would love to help you too! We are here for you and just remember to look at your leases so you are not stuck paying for equipment that isn’t going to be used or not stuck paying for old equipment at current lease rates.