Finishing Your Lease Is The Most Important Part
Getting into a new lease is always exciting. Whether it’s a bigger office space, a personal lease on a car, or a much needed copier upgrade, we always seem to perk up when it comes to new things. Finishing a lease, however, can be challenging and confusing.
Here at Document Solutions, LLC, we want to help you navigate every part of your copier lease. Below is a 6 step guide on how to prepare for finishing out your lease on your current office copier. You can also click the button below to fill out a no obligation contact form so one of our representatives can talk you through your copier situation.
1. Contact your leasing company about their end of lease requirements
Every leasing company requires different things at the end of a copier lease. Some companies put the burden of shipping the copier back entirely on you. Here at Document Solutions, LLC, we handle every aspect of copier shipping for our clients. The first step in preparing for the end of your lease is knowing what your leasing company expects of you.
When you know your copier lease is coming up, check the details of your lease contract and confirm those details with your leasing company. We recommend you do this 1 to 2 months before your lease is up to give you enough time to make the necessary arrangements.
2. Empty your copier of anything valuable
As you use your copier, it collects all the data you put into it. This means that the hard drive of your copier can store valuable and sensitive information. Before sending your copier back, you will want to make sure that no company information is still being stored. Click here to watch a video on how to wipe your copier hard drive.
Beyond your hard drive, your copier may have other valuable materials you purchased for use. If you are responsible for purchasing your own toner, make sure to remove those cartridges as you may be able to resell them. Also be sure to remove any paper that is in the machine as you can use it with your next copier.
3. Check your building requirements regarding shipping
While your leasing company will have requirements about shipping, your specific office building may also have requirements to consider. Some office spaces limit the times or spaces that can be used for shipping large items. Additionally, you do not want your copier shipment to interfere with the day to day activities of other tenants in your building.
Make sure you consult your landlord regarding how large shipments should be handled. If they designate certain spaces in the building for loading and unloading, you may need to move the copier to that spot before the shipping company arrives.
4. Conduct a full copier inspection before it ships
Whenever you hand in any leased item, you want to know everything about its condition. Leasing companies will inspect your returned copier for any cosmetic damages or functionality problems. Before you pack your copier, make sure to inspect it thoroughly and take detailed notes about the condition of your copier.
Keeping those notes can come in handy should your leasing company attempt to charge you for an issue with the copier. These notes will make it easier to prove if a problem occurred during shipping, if a leasing company employee was previously aware of the defect, or if the issue first occurred after the leasing company received the copier back.
5. Prepare your copier for shipping
Each leasing company will have its own requirements about how your copier should be packaged. Some will want you to load it onto a wooden crate, some will ask for specific protective packaging, and others will leave it up to your best judgment. Make sure you have contacted your leasing company about their specific requirements for your copier.
Some shipping companies may be willing to help you with this step. While that can be helpful, their guidelines may be different that those of your leasing company. Whether you do this work in house or hire someone to help, you will want to be an active part of this step. By not packing your copier according to your leasing company’s guidelines, you may become liable for any damage that occurs during shipping.
6. Follow up to close out your lease
With everything returned, make sure you follow up with your leasing company. In this follow up, you want to make sure there are no outstanding charges or damages you are liable for. Many go through the work of shipping their copier back well, never follow up, and find that more charges are waiting for them. Following up with your leasing company will ensure that isn’t the case for you.
Every Lease Requires
A Different Approach
Want help navigating the end of your copier lease? Let Document Solutions walk you through your situation!
No matter where you are in your copier lease, Document Solutions can help you think through and get the most out of your copier situation.
Fill out this no obligation form to have one of our representatives contact you. We will talk you through your current situation and help you find the best copier situation for your business to grow!
How Document Solutions LLC Can Help You With Your Copiers
Handle All Shipping Needs
While other companies put the burden on clients, we handle the burden for you. Document Solutions LLC will pick up your old copier and deliver your new copier with no requirements on your end.
Provide Copier Maintenance
After we get you your copier, we don’t leave you on your own. We stand by our copiers for the entire time you have them, providing regular maintenance and making stops by your office as needed.
Optimize Copier Services
At Document Solutions LLC, we charge you on a usage-based model. This means you only pay for the services you actually use, making your business more efficient and more profitable.
Working Through Your End of Lease Options
At the end of your copier lease, you may decide that you simply want to keep the copier. Different leases will have different buyout options built into them. These conditions will already be worked into your lease agreement, but it is worth asking your leasing company which options they will help you enact. Below are 3 main buyout options for your copier.
Fair Market Value Lease
A fair market value (FMV) lease gives you the option to buy the copier for its current market value at the end of the lease. This lease typically has lower payments because of its higher buyout cost.
$1 Out Lease Option
A $1 Out lease option is designed for you to keep the copier at the end of the lease. After your final lease payment (typically a $1 payment), you own the copier. These leases usually have higher payments throughout.
10% Lease Option
A 10% lease option gives you the option of purchasing the copier at the end of the lease for 10% of the original lease cost. The buyout cost is determined at the start of the lease and gives you flexibility at the end of the lease.
Get The Right Next Lease For You
No matter what copier needs you may have, Document Solutions LLC is here to help!
We specialize in crafting customized solutions to your specific needs. This means you don’t get a one-size-fits-all approach, but rather a this-fits-perfectly-for-you solution!
By filling out this form, you will get in contact with one of our representatives who will listen to your copier situation, identify your specific needs and goals, and help you take steps towards a more efficient and profitable work environment.