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Landlord: Free rent for the unemployed

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A local landlord is turning to an unlikely source to to fill space: the unemployed.

 

Office Suites Plus — which is based Lexington, Ky., but has locations in Cary and Raleigh — is offering rent-free office suites to out-of-work-but-seeking-work professionals for up to 90 days. 

 

“It is a tough time to be in business and even tougher to be without a job," James C. Baughman Jr., the president of Office Suites Plus, said in a statement. "This is one small way we can use our resources to help some get back on their feet.”   

 

It's also a slick way to build relationships and boost occupancy down the line. 

 

Office Suites Plus rents big spaces in office buildings,  slices that space into furnished offices equipped with phones and Internet, then subleases the suites to individual companies — startups, lawyers, financial planners, and so forth — that share a receptionist, meeting rooms and other common areas. It has 35 locations in nine states. 

 

“If an individual tries us and after concluding a search decides to start their own company and use a furnished or virtual office, special rates will be extended as a way of us investing in their business to help them get started,” Baughman said.  

 

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real estate

Nice, that Landlord is so kind. In his little way, he could help the needy.The current Real Estate market, whether to rent or buy is tricky, and a lot of people look into rent to buy options. Rent to buy, or lease to own, is where a renter wants the option to purchase a rental property, and for an upfront down payment, usually 3 to 5 % of the price – more than a payday cash advance, and a premium on top of rent, they can option to buy at the end of the lease, and all payments above rent are applied to the purchase price. A rent to buy option can save a lot of cash off a mortgage loan, and maybe save a loan till payday or so a year.

No stimulus $$$ for this? Come on democrackkks...

we need FREE RENT for ALL, right?

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About the blogger

Business reporter Jack Hagel covers real estate for The News & Observer. Look for his Real Deals column about local deals and industry trends in the newspaper's business section on Thursdays. Jack can be reached at (919) 829-8917 or jack.hagel@newsobserver.com.
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