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Frequently Asked Questions
Leasing space for your organization gives you flexibility for future expansion.
Leasing frees your employees from the burden and worry of facility maintenance.
Leasing frees up your capital because you have no mortgage for your facility.
In most cases Update Company requires one month’s rent to be held as a security deposit.
Our rent is charged as dollars per square foot per year.
For example a 1,000 square foot space may lease for $ 15.00 per square foot.
Rent would be 1,000 x $ 15.00 or $ 15,000 per year, divided by 12 is $ 1,250.00 per month.
Usable square feet is the measurement of the actual space in your suite.
On top of that, we usually charge an extra percentage for common area space you use in the building such as rest rooms, hallways and conference rooms.
So 1,000 of actual usable square feet may be charged as 1,000 x 1.10 or 1,100 rentable square feet.
In the buildings managed by Update Company, we pride ourselves in making sure we have plenty of parking for your employees and we do not charge for parking.
Our buildings are located in South St. Anthony Park, which contains many restaurants, coffee shops, banks and unique retail. Our Midtown Commons campus contains a full service post office.
Most of the Update Company managed buildings have a conference room that is available for the use of our tenants free of charge.
Our buildings are located within a few blocks of the Raymond Station Light Rail system on the Green Line.
Many of our buildings are located on University Avenue, on the convenient 16A bus line.
Realtors can be helpful, especially with long-distance or out-of-state moves. However there is a cost involved.
It may seem that the landlord pays all the realtor’s fee, but that expense is often passed along as higher rent.
Some realtors ask as much as $ 5.00 per square foot from the Landlord.
We take pride in offering our tenants a fair honest lease, whether they use a realtor or not.