Know Your Different Modular Building Leases
As the business world becomes progressively faster paced, the utility and usefulness of modular construction has become well-known to project managers looking for a versatile solution to their space problem. From a portable container to store on-site construction materials, to a full-scale temporary modular campus, modular buildings are being used more and more every day.
To help companies that are looking to quickly finance modular buildings, Aries Building Systems has put into place several attractive leasing options to choose from. Low interest rates make leasing an incredibly affordable option, even when considering additional costs like delivery and installation.
Leasing modular buildings also means that you can avoid amortization fees. Leasing includes all the same things that purchase does: delivery, installation, site work costs – although some costs may not be rolled into the leasing contract and may have to be paid up front.
The aesthetic design of modular buildings have come a long way and are a far cry from the grey, drab structures of yesteryear. Now, they can be custom built and designed to fit any floor plan for any application – from portable containers to modular classrooms and offices, with a wide array of potential amenities to boot. With all that being said, what’s the best leasing option for you?
SHORT TERM LEASE
A vast majority of our business comes from companies who are looking to make use of a modular building for a short period of time. In this instance, a short-term lease is preferable. Rather than make a commitment to a long-term lease with a traditionally constructed building, a modular building gives you the freedom to lease only the time that you need. This can potentially save your company thousands of dollars in costs!
Low monthly payments are the main benefit to choosing a short term modular building lease. Monthly rates are based of the type of building you and length of lease that you choose. A short term modular building lease delivers with it a high level of flexibility, and typically range from 12 to 60 months.
OPERATING LEASE W/ BUYOUT
With an operating lease with a buyout option, you are able to own your modular building at the end of the lease term that you select. When choosing this option, you are allowed to choose both the lease term and the buyout amount. You simply pay the monthly lease rate, and, at the end of the lease term, you can complete the building purchase by paying the buyout amount you selected.
Typically, an operating lease w/ buyout has a term length between 24 and 72 months, with buyout options in the range of a few thousand dollars. Another major benefit is the fact that Aries owns the building entirely throughout the lease term. That means that you don’t have to be bothered with maintenance costs. At the end of the lease, you take full ownership.
MUNICIPAL LEASE
This is a low interest financing alternative available to government and municipalities, schools, and some charter schools.
LONG-TERM LEASE
Longer-term modular building operating leases offer lower payments and peace of mind knowing you are locked in at your rate for the term of the modular building lease. Short-term portable modular building leases are perfect for swing space or when you are not exactly sure how long you will need the temporary space. All of our operating leases can be renewed an unlimited number of times, giving you the flexibility to effortlessly balance your budget and space needs.
Knowing the variety of lease types available prepares you to select the right modular building to fit your needs. All of these lease types are available at Aries Building System and can be browsed via our online modular inventory page.
If you believe that Aries could be of service to your organization and provide you with the lease you need, please visit us ariesbuildings.com or give us a call at (888) 702-0134.