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Office Equipment Leasing: What You Need to Know About Automatic Renewals

What You Need to Know About Automatic Renewals

When you consider copier leasing, one of the benefits you can do is that you can maintain good and consistent work productivity at a low cost. You might be asking yourself how do business owners manage to be in a leasing agreement within five years and still there for over seven years without signing an agreement for copier leasing services. Well, these are all because of the leasing automatic renewals.

In most cases, business owners tend to avail of copier leasing services in Fort Wayne because of the cost benefits it offers. Aside from improving the overall productivity in the office, a copier lease also enables you to save more money than purchasing a new one.

If you are looking for a copier in Fort Wayne, you can contact Fort Wayne (260) 204-0032. You can ask about Copier Lease in Fort Wayne, copier rental in Fort Wayne, IT Services in Fort Wayne, and even Copier Repair in Fort Wayne.

These days, most copier leasing in Fort Wayne features an automatic leasing renewal. If you have questions regarding the automatic renewals in copier leasing, you are in the right place. In this post, we are going to provide you the things you need to know about the said topic. So, if you want to know more about it, then keep on reading and enjoy!

Different Parts of an Automatic Renewal

A copier leasing automatic renewal is composed of three different parts. Each part has its purpose that you need to know. These three parts are the Automatic Renewal Term length, Notice Period, and Equipment Return Period. Let us explain this three one by one.

Automatic Renewal Term Length

As its name suggests, the automatic renewal term length refers to the period covered by the renewal term. This part should state a clear idea. For example, the automatic renewal term length lasts after six months or even one year.

Notice Period

This is the part where it states the approved time when the leasing company will send you a notification regarding the lease term that does not require renewal. An example of a good notice period is; two months before the expiration of your existing lease agreement.

Equipment Return Period

This part refers to the period when your business should return any office equipment you lease after the expiration of the leasing agreement.

Submitting Notification

You must read and understand carefully every word that is written on the copier or printer lease terms and conditions. In addition to that, make sure that the agreement features the three parts we have listed above. When you understand the timeline, you know when to submit the notice letter regarding the copier lease.

The following are the information you need to include in your lease-end notice letter;

·         You need to indicate the important information on the leasing company

·         Second, you need to include the accurate lease account number you want to discontinue.

·         Take a look at your current lease agreement and look for the serial numbers included

·         Lastly, don’t forget to include your contact details

As mentioned earlier, most business owners who don’t have enough budget to purchase brand new office equipment tend to avail of different leasing services. One of the popular equipment available for lease is the copier, considering its fancy price.

If you are planning to lease a copier machine or any other office equipment, you should read and comprehend all the terms and conditions included in the lease agreement. This will enable you to prepare all the requirements needed for lease termination. Through this, you don’t have a hard time updating your leased equipment.

If you need to submit a notice letter regarding the lease agreement, make sure to include the important details we mentioned above.