Each year, received thousands of entrepreneurs and financial managers with the task of attractive financing for equipment for their companies to be acquired. Constriction of the best leasing arrangement requires a degree of "planning and sophistication minimal. You save time, land a better supply of rental and leasing experience to make less of a puzzle, taking into account several important factors.
Planning for the Future
Prior to investing in search of lease proposals for a little bit "of time Planning and preparation. Establishing priorities, taking into account the relative importance of factors such as rents, the balance of considerations for the needs of leasing and continuing need for future owners have special equipment or knowledge industry. When the process is relatively insignificant in the overall scheme of things, a planning process is to cut off. Otherwise, leave enough time for: 1) identify and pre-qualification of the donor, 2) monitor and select a> Lease Proposal, 3) can be selected rental performing due diligence and obtain the approval of credit, and 4) the completion of the lease documents.
Put an information package for prospective lessors expect that what you want before it a proposal, including: 1) general information about your company and the management of the BIOS, 2), three years of annual accounts and consolidated interim financial statements, 3 know a) a list of companies and trade credit, and 4) a description of thePurchase of equipment, including acquisition costs. Expect questions about your business and will be notified in advance.
Choosing the right leasing company
The starting point for an interesting proposal for leasing has to offer in choosing the right leasing companies. All leasing companies are not equal. Some specialize in certain areas, some types of equipment, in some cases, and other forms of transactions. Leasing companies also vary in size, capacity, expertise andIntegrity. Do your homework pre-qualifying that offer leasing companies. As an owner to see: 1) knowledge, 2), reputation, and 3) the ability to run 4) to establish useful business contacts and to report 5) an approach. Try to identify at least three leasing companies to offer to.
How did you in any field, leasing professionals have varying degrees of knowledge and know-how. Look for the leasing and management representatives who have a good understanding of the structure of rental equipmentIssues, documentation, evaluation of risks, the ability of their companies, their business problems, and other leases. Avoid rental shops', with obvious limited knowledge. It is also easy to take the Via Dolorosa of misinformation and false statements.
Since the entry bar, a business is open in the rental of equipment is relatively small, it is important to identify to the leasing company, the good reputation in the industry. Check offers the leasing companybelong to one or more of the industrial groupings (eg, ELA, EAEL, LKAU and NAELB). While not ensure membership of these associations, high ethical standards, with each of these organizations has standards and procedures for evaluating unethical business practices members. Contact relevant associations for references. Next several names of customers, banks and suppliers will turn.
With good morals, is the ability to lead as important as agreedSelect hiring partner. Applying for and obtaining, financial information is background information on key leaders, a list of recently completed financing, names and contacts on the main funding sources for each leasing company. Read about this contact information and follow up with the contact list. If your industry and / or rent are to be highly specialized, make sure that the leasing companies have similar procedures to what you want to complete. ReviewEnsure owner websites and brochures that the type of lease that you are looking specifically mentioned and discussed.
Good leasing partners offer more than equipment financing. In many cases, the landlords have met or closely with banks, lawyers worked, CPA, insurance companies, suppliers and investors. When the leasing company provides a wide range of clients, some of these contacts is invaluable. Trying to get an idea of the depth and breadthAbility of the individual leasing company in this area.
Why you will work closely with the leasing companies selected, and may make additional requirements in the future, why not have a leasing partner that values relationships? Although it is not easy to seek to identify the relationships of leasing companies at the strengthening of the estimate, references to verify the customer information on the monitoring of donors, you listen, the desire to know our customers and the desire to help.
Get a greatMostly Lease Facility
True Product leasing saves much time. Find an agreement, the equipment for the needs to cover at least the next six to twelve months. A basic rule is for a lease facility, which at least 20% is more useful than is necessary. If a line of credit in the amount of leasing is an option is available, this can be a useful tool to ensure the right amount of leasing.
Select a tenancy This device Dating Use
The duration must match the intended use of the devices as much as possible. If the period is too short, monthly cash costs for the equipment might exceed the expected benefits derived from the device (cost savings or revenue generation). If you have a lease that is too short, sign the lease and the end value of options and exercise in each of these options, you can end up too much for the equipment. If> Length of the lease is too long, you risk losing the flexibility to upgrade to new devices is desirable more. Only a few tenants were measured with the device, which need no more, but still let a persistent equilibrium.
Despite your preference, a short-term return on the landlord in the rental of equipment lessors generally perceive a faster and faster recovery for a credit enhancement. You can handle the asymmetriesbetween your desires and landlords to maintain positive end-of-lease options. Find the end of the lease options are: 1) the right to the equipment to the lessor 2 back) options for renewal and 3) favorable purchase options. Finding ways to limit what you ask for the fair value of the options market, which should be accused of "low" (ceilings) or options in favor of the owners.
Look for Lease Flexibility
Get the flexibility of leasing mayTrump prices slightly. In fact, you can cut a lot of money to prices with flexible leases.
First, make sure to include that the lease, you can use most of the devices that you intend to purchase. In addition to that it will be easy to add more units to rent to change to suit your needs. Leasing can be used for better times longer under a Master Lease or the ability to modify existing contracts to make additions. What ifYou no longer need a little more "material? An early termination formula is useful in these situations. In general, these forms of assessment are hiring the current remaining. If the material has a high residual value, reached at a cheaper cost of cancellation by to negotiate the inclusion of some of the expected residual value.
A lease flexible updates expected. Normally, if the upgrade of equipment, the present value of the fees to be connected with the upgradebe combined with the current value of the remaining rental equipment to create a new calendar. Other methods may be needed if the landlord penalties or additional costs to be financed by the manner in which the owner of the lease.
You will be able to terminate the lease prematurely, without a heavy load? An amount up to the present value of pension plus a termination fee not more than 3% to 5% should compensate the ownerfor early termination in most leases. If the material has a high residual value require that some residual value expected to reduce the cost of early termination.
And "the end of the lease of flexible leasing options? Of course, if the contract is an option to include buying votes, there is no need for more flexible end of the lease. Otherwise, a good picture of the end of lease options is desirable. The correctReturn the equipment to the lessor without any penalty or costs, reduced on the right side of the device at a fair price or to buy, and reduces the right to continue renting the equipment at fire sale prices. The use of "caps" for the purchase or rental market can significantly reduce the potential cost options to the end of the lease. Be careful, though. Donors can click on the floors consist of at fair market value "(low) if they are fishing to" choose "to.
May become necessary to moveEquipment to another location. Make sure the lease provides that equipment be moved without unreasonable expense or penalty, after notice to the landlord. Remember that the shift might generate additional equipment costs for the owner, especially when in another country or multiple sites should be postponed. Most providers charge more points than adding an additional risk for the operation in which they have possession of the device. Until these considerations aretaken into account, the owner must permit the transfer of plants with a reasonable time, and the reimbursement of direct costs of licensing and administrative costs.
It is a reasonable time to give to renew the lease for you at the end of your choice, hire, purchase of equipment or return the equipment? The period of notice depends on one to six months, three months is typical. In case of violation of the notice period, the lease begins inan automatic extension of time, usually one months to six. You should seek advice and for the automatic extension, the short time to avoid the costs of hiring additional risks. If the owner is not willing to negotiate this provision, you can manage the situation to ensure, that the requirement is satisfied the disclosure of the time.
Look for Competitive rents
Lease pricing is dependent on many factors, including market prices, the perception of credit tenantsDanger of economic competition, equipment for quality assurance and adaptation of merchantability. Obtain at least three offers of rent, if possible. At the end of the day, the rental price is dictated by the market. The full analysis will be compared to the anticipated number of proposals to do otherwise difficult to obtain. Assumptions about the backwardness of the equipment and the integration of all anticipated costs and fees. Taking into account the amount and timing of the periodic leasePayments, advance payments of rent, security deposits, provide cash, rent and intermediate commitment. To achieve accurate analysis of cash flow, you should include all taxes and benefits, as they are to be achieved.
If you worry about the impact of leasing on the financial statements of your business concerns, compare the impact of the proposed lease on the balance sheet and profit and loss statement (if lease accounting is not your fortereceive a qualified accountant) in question. For example, should, if your company is sensitive to adding additional debt on its balance sheet, a capital lease be avoided. As you can see, there are several ways to evaluate, to compare the proposed lease and the rent. The most important thing is to use a method of analyzing the consistency and to choose the method that will best meet your business priorities.
Include all taxes and penalties
Proposed location varyType and amount of taxes and penalties. Some common fixed charges include: commitment fees, cost of materials, the cost of legal fees and charges for UCC financing statements. In addition, some leases might contain penalty charges for late payment of rent or to terminate the lease early. These are just some of the potential taxes and fees. It is important that you go through the proposed lease and rental agreement to determine the expected expenses. If Fees or costs are significant, and probably should be integrated into your volume analysis.
Main tenants are the responsibilities and obligations
Most lease proposals cover the basic terms of the lease, but said nothing about many of the obligations and conditions normally found in the lease. Landlords generally do not negotiate, sign the lease before the receipt of a letter from the proposal. During the negotiations> Term of the lease may not customary or practical at the planning stage, the request for a copy of the standard contract, the lessor, the proposal of the letter is a good idea. In its model contract, look expensive or not standards that would otherwise eliminate the proposal from consideration.
There are lease provisions that almost all leases, are common net required, including: 1) the immediate payment of rent, taxes and other payments;2) equipment and responsibility, 3) maintenance of equipment, 4) monitoring and reporting on the relocation of equipment, 5) freedom of all mortgages or charges against the other units and 6) the return of equipment. Together Under the terms of the leases, as no financial obligations or the application of collateral, to be competitive or in the rejection of the proposal so that it is also interesting. Read the letter of the proposed standard lease and the landlordto ensure that they are free of provisions that are problematic.
In all cases, it is important that you stop the right to the proposed transaction, if one can not accept you and the landlord on the lease, especially when stressful conditions in the lease agreement, which must contain not covered by the proposed location.
Conclusion
Constriction of the best leasing deals, and this report should not be like looking for a root canal treatment. With a little "planning ahead andfew clearly defined goals, you will find a good match. Remember to share, priorities, to make a decision on the proposed lease and have enough time to discuss the proposal, approval and documentation phases of the tenancy can proceed. Moreover, while the price of rent is usually of great concern can be sure to take into account other factors, costs or create problems to increase.
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