Deb’s Equipment Leasing Blog – Page 5

Moving the Dial Forward – Checking your Goals…

Dec 21 , 2016 by Deb Sands

In honour of the fact the year is almost over I thought I would ask you this question:

How have you done over 2016 on accomplishing your one thing for the year? Your one great priority? Have you moved the dial forward this year?

Setting goals gives you long-term vision and short-term motivation. But what is your Priority -your “One Thing”? Many people have “Priorities” – but what is your “One Thing?”

It’s interesting to note that the word priority came into the English language in the 1400’s. It was singular. It meant “the very first or prior thing.”

Only in the 1900’s did we pluralize “Priority” thus giving us the false idea that all of a sudden we have the ability to multiply “first things” thus leading to a lack of focus and clarity.. No wonder we are confused and overwhelmed with “priorities” instead of “one thing”. With this in mind, search within yourself for the answer to what is your “One Thing”.

Goal setting is a powerful process for thinking about your ideal future, and for motivating yourself to turn your vision of this future into reality. – We all know this, yet many of us have not seriously written down or measured our Goals. Many people feel life is too unpredictable to make plans beyond this year’s holiday, and even that’s a bit of a stretch. Most people have general intentions – but many don’t have goals. It’s great to have intentions and goals… but it is integral to commit to ONE THING being the priority for the quarter or year. Think about it… when you begin to work on Quarterly Priorities and have more than three, many times by the time a quarterly review comes around, the leadership team has lost sight of what that One Thing is. How do you move the dial forward?

Ask yourself this question: “would you set out on a major journey with no real idea of your destination?”

SMART Goals

A useful way of making goals more powerful is to use the SMART mnemonic. Ensure that your goals are attainable: Don’t set yourself up for failure by aiming for out-of-sight goals. Choose smaller goals that you can use as stepping stones toward a bigger, long-term achievement. For example, a runner might dream of completing a marathon, but set a short-term goal of running 10 miles a week for two months.

Ask yourself whether or not the activities that you choose to support your priority are 90% or more on target of attaining that measurement?

Make sure your priority has a metric to measure and answer the following questions:

“HOW WILL WE KNOW WHEN WE’RE DONE?”
“How will we know when we have succeeded?”

You achieved a Goal… Now What?

It’s important that when you’ve achieved one of your goals, take the time to enjoy the satisfaction of having done so. Absorb the implications of the goal achievement, and observe the progress that you’ve made towards your other goals.

If the goal was a significant one, reward yourself appropriately. All of this helps you build the self-confidence you deserve. You have indeed moved the dial forward.

With the experience of having achieved this goal, review the rest of your goal plans:

If you achieved the goal too easily, make your next goal harder.
If the goal took a dispiriting length of time to achieve, make the next goal a little easier.
If you learned something that would lead you to change other goals, do so.
If you noticed a deficit in your skills despite achieving the goal, decide whether to set goals to fix this.

And more importantly, know that failing to meet goals does not matter much, just as long as you learn from the experience.

Work–life balance is a concept including proper prioritizing between “work” (career and ambition) and “lifestyle” (health, pleasure, leisure, family and spiritual development/meditation). This is related to the idea of lifestyle choice.

Of course everyone’s priorities change depending on a range of factors. For example, age can make your balance very different.

If you’re in your twenties or thirties, you may have strong commitments to building a family life whilst, at the same time, focus on growing your career.

If you’re in your fifties and sixties, on the other hand, your focus may be on more personally meaningful and purposeful activities, which may not have been present earlier in life.

Whatever you do to establish your work/life balance, it’s vital to create it and keep to it whenever possible.

Moving the dial at home, too

Achieving the balance between work and personal life is becoming increasingly difficult due to the pressure current society has placed on individuals.

Now that you know the best practices for goal setting, it’s time to start thinking about your family’s hopes and dreams. Could your family find ways to spend more time together? Family goals focus on achieving accomplishments agreed upon by the family. The family individuals need to work as a team to collectively identify and establish goals for the family unit… Setting family goals helps you to focus on the family and achieve work life balance. It’s all about balance!

We at Priority Leasing are wishing you all great success in work and life and in finding the right balance for you and in setting your goals and moving the dial forward in 2017.

Deb Sands

President

P: 403-216-1930

C: 403-703-7301

E: debbie@priorityleasing.net

W: https://priorityleasing.net

Ca.linkedin.com/in/debsands/

Is Live Tradeshow Marketing a Thing of the Past?

Nov 30 , 2016 by Deb Sands

Advancements in technology have created a new type of virtual relationship with exhibiting your products and services to your target market with “virtual events.” This however poses the following questions:

Are Live Tradeshows a Thing of the Past? … Is there still value in human interaction?

Can we form the same type of relationships virtually as we can in-person? Of course not! Let’s face it, we all prefer to work with vendors and business partners we trust and with whom we share something in common. With that said my colleague and I recently attended a Tradeshow and were impressed with not just the quality of the display booths but with the opportunity to speak directly with experienced staff that were at their booths. The Tradeshow was a success indicated merely by the number of people who attended.

However, as with any marketing campaign you have to examine both the benefits and the risks of exhibits at trade shows, conferences and exhibitions and of course keeping your eye on the ultimate ROI.

Consider the benefits and risks to your business when deciding to exhibit your product or service. These will be different for each event; however, there can be a lot to gain from promoting your product in person within a different environment.

Benefits:

There are many benefits to marketing your business or service at a Tradeshow, Conference or an Exhibition. Did you know there is a difference between a Tradeshow and an Exhibition and a Conference?

· Tradeshows are generally targeted at an industry and people involved or interested in that industry. Exhibiting at a trade show can be a great way to advertise to a target market and create brand awareness!

· Exhibitions are open to a large and sometimes diverse range of audiences (usually the general public). This provides you with a platform to promote your product or service to a broader group that may have little or no knowledge of your products and services.

· Conferences are industry specific and more of a niche venue. Its benefit is that it always have key industry speakers, break out session of various experts that provide their experience and knowledge or specific training sessions. In addition there are always networking events that enable attendees to build relationships.

Depending on your type of business, and/or product or service offering, all of the above can provide viable and cost effective market testing can be carried out at all three venues to gain industry buy-in or general opinion about your offering. Being involved in a tradeshow or exhibition can provide you with opportunities to branch out to business-to-business trading and create a customer database from the visitors to your display booth.

Trade shows offer big benefits to businesses of any size. By combining exposure to a large number of potential leads with the ability to interact personally, trade shows offer an experience for both the business and attendee that other forms of marketing cannot. Though virtual events and other technologies are slowly gaining popularity, few marketing methods compete with the potential of trade shows.

And to top it off… exhibiting at an event is one of the most cost-effective ways for your company to reach qualified audiences…. According to a US study by Exhibit Surveys Inc., the average cost per visitor reached at a trade show is US$150, while the average cost of a field sales call is US$240. You do the math – you definitely get more bang for your buckat a tradeshow or an exhibition.

With a well-designed trade show booth that draws attendees’ attention, a few promotional items, a contest opportunity with giveaways and sales collateral, you have a well-rounded booth experience that leaves an impression with a prospective customer for months!

Risks:

It is also important to ensure that you have thoroughly researched attending a trade show or exhibition. There are some risks involved and you need to be aware of them in the planning stages:

· Trade shows require at least a day and probably more of your time.

· Travelling to trade shows can be costly.

· Displaying at a trade show can also be costly if not managed properly.

· There will probably be quite a bit of competition at all shows, therefore your Brand must make an impact.

Choosing the wrong trade show to exhibit your business’s products or services can result in displaying to the wrong audience. A poorly executed promotion or campaign can mean the costs of attending the trade show outweigh any revenue you gain.

First Impressions

We all know that “first impressions” are integral. It takes just three seconds for someone to observe and evaluate you and your company. A first impression can be nearly impossible to reverse or undo, making those first encounters extremely important, for they set the tone for all the relationships that follow.

After all, your Display is a direct invitation to say “Come on in!” Therefore it’s vital to make sure your objective for the show – selling, marketing or corporate image – determines the look and feel of your stand. Choose the overall design graphics and enhancements to your display to boost the image you want to create. Trade shows are a great place to get your business noticed.

Trade shows are a great place to get your business noticed. However, if you really want to stand out, using a custom designed trade show booth design is key. There are many businesses at a trade show, so in order to get noticed, you must stand out from the crowd. Benefits to having a custom designed trade show booth design are as follows:

1. Stand Out: trade shows have hundreds, sometimes thousands, of booths. If your booth looks like all the rest, chances are, your business will get lost in the crowd.

2. Unique & Versatility: choosing a custom booth design that is flexible for either a Conference or Tradeshow will not only show your uniqueness but enable you to invest into the future with a display that is flexible for various booth sizes. If it can expand from 10’ x 10’ to a 10’ x 120’ or even a 20’ x 20’ booth space, what a great time to invest into the growth of your company and brand!

The amazing team we spoke to at Nexus Displays gave us an education on Successful Displays and I am happy to report – Gone are the days of needing a semi-truck to transport your exhibit. After speaking with the team at Nexus Exhibits I quickly learned that deciding on a space that will suit your objective can be challenging; all too often, people get carried away with the idea that size is better than focus. Small stands can work well. These amazing stands, tables and backdrops are folding up into small packages that anyone can carry. And graphics! Well. Graphics on any medium have come so far. And it’s very cool to see them on large exhibits.

Priority Leasing has made it easier than ever to find the exhibit rental that meets your aesthetic, functional, and budgetary requirements. Below are three examples of some great signage from an 8’ Instant Pop Up Display to more substantial displays for your business and the cost to lease!

8’ Instant Pop Up Display

– $137.00 plus GST

20’ – $534.00 plus GST

Fuller Display – $2411.00

plus GST.

They are all based on a 36 month term with a $10.00 buyout at the end of the lease.

For more information contact us today!

P: 403-216-1930

C: 403-703-7301

E: debbie@priorityleasing.net

W: https://priorityleasing.net

Is Your Equipment Holding You Back?

Nov 9 , 2016 by Deb Sands

Whether you’re just starting out, needing to upgrade to the latest gym, spa or office equipment or are looking to extend your range of technology – affording the commercial equipment you need to grow your business can be challenging.

The primary reason for running your own business is to make a profit – this requires strategy and planning to achieve a targeted return for your efforts. Is your “equipment” holding you back?

Upgrading an office system can be quite an expensive proposition. However, there are a number of important reasons why it is necessary for companies to do so. Most importantly – if a company fails to keep their systems up to date, it won’t be long before they are not getting access to new services and features that can offer value and add productivity to their organization.

You’re on a tight budget. You can’t afford to replace your existing equipment with brand-new models…or can you? Here’s how to decide when–and if–it’s time to upgrade, and how to save money doing it.

When Is the Right Time to Upgrade?

Chances are things have changed in your business since you first acquired your equipment. Your equipment could be out-dated, PC’s running slow, or newer and better cardio, strength and group training equipment is now on the market.

Other Key determining factors may include:

· Increased employee productivity with updated and faster PC’s;
· Improves security;
· Motivating new clients with upgraded equipment at the gym;
· Attracting new clients with professional skin care equipment; and
· With the impending Carbon Tax – you need to upgrade to remain energy efficient.

In many cases, upgrading may make financial sense. No longer is the cost associated with new equipment purely monetary.

Your next question may be “Should I buy or should I Lease?”

There are pros and cons to both, which makes the decision to buy or lease even more challenging. Leasing helps you avoid the high set-up costs of opening a new facility and it does help you to spread the cost of essential equipment over a period of up to 5 years.

The ins and outs of Equipment Leasing can be somewhat daunting, so that is why I wrote the book “Equipment Leasing “Essential Facts for Canadian Business” in order to help you to understand how to invest your hard earned profits.

Why read a book about Equipment Leasing?

Simple! Leasing is an industry with myths and misunderstandings that often leave business people confused.

As the founder and president of Priority Leasing Inc., I have successfully combined vision with integrity, as well as leadership and have over 26 years of leasing experience. With that sort of insight, I wrote this book in order to debunk the myths and to arm you with competitive strategies only leasing can give your business.

This book covers financing facts, tips and strategies at a time when economic uncertainty dictates the need for creative financing options.

Some of the take-a-ways you will understand after reading this great book include:

· How to make a profit from your equipment – IMMEDIATELY!
· What you should – and should not Lease;
· How to avoid – or reduce taxes;
· The best way to maximize the return on your equipment AND optimize the value of your business;
· How to better leverage your available credit; and
· How to AVOID making costly mistakes.

You don’t need to wait until the first of January to make a new beginning. Every moment and every hour opens the door to the rest of your life.

For more information on how you can obtain a copy of Equipment Leasing Essential Facts for Canadian Business please click here.

Strategic Considerations 2017: Next Year’s Budget Planning

Oct 13 , 2016 by Deb Sands

The year is coming to a close. There were good times and bad times. Face it – the end of the year is always a challenging time for businesses – it is a look at the past year and forecasting for the next year. Your annual performance should provide the baseline by which to assess your year-over-year performance.

The planning and budgeting process for the coming year sneaks up on all of us, it seems. Most people’s minds are on getting ready for the holidays but as the New Year approaches, it’s time to start thinking about how you want to do things differently next year.

When you are running your business, it’s easy to get bogged down in day-to-day problems and forget about the bigger picture – “The Budget”.

Once your business is operational, it’s essential to plan and tightly manage its financial performance by creating a focus for the direction of your business that provides targets that will help your business grow.

Budgets are about preparing for the expected and putting yourself in position to survive the unexpected.

If unexpected events set you way off course this past year, you should consider building more safeguards into your 2017 budget. Look at your main objectives for the coming year and change or re-establish your longer term planning. This is the time of year to ready your business for the coming year. Is your team silently putting up with poor or out of date equipment which could actually be affecting their productivity? Even something as simple as new computer keyboards can do wonders for productivity.

As we mentioned – Budgets are about preparing for the expected and putting yourself in a position to survive the unexpected. A capital budget analyzes potential capital expenditures and helps determine where your company should invest their resources. This is vital for success because a company’s growth as well as its ability to stay competitive depends on its ideas for new products, new equipment and new – or improved facilities.

For instance, suppose you want to purchase a new $10,000 large-format color printer for your printing or graphic design company – first off, you would estimate the cost of the capital asset, then get bids from several vendors and come up with a likely total cost for the hardware, software, installation and maintenance.

But wait, there’s more – next you need to estimate the cash flow for the project, including the cost of the asset, working costs for supplies and maintenance, tax deductions for depreciation, a disposal date and a salvage value!

And most importantly – how much extra cash flow will come from the increased capacity of your new printer – and when?

What’s the chance that the new large format color printer will not generate additional revenue until say – Year 3? You should take that into account as you make your decision and recognize the risk inherent in your assumptions.

When doing your “Budget” research – you should also look into the cost of leasing and the benefits of a three year lease.

Equipment leases enable businesses to obtain equipment and machinery that has a high dollar value. This ranges from costly single items like heart monitors and extraction machinery to smaller items needed in bulk like kiosks, software licenses, chiropractic equipment, telephone systems and even coffeemakers.

Equipment leasing is a popular way for businesses of all sizes to affordably keep technology and equipment up to date.

Because most leases do not require a substantial down payment, leasing enables you to hold on to your cash and invest it in other areas of your business. Leasing offers substantially lower monthly payments in comparison to purchasing. But it still has to be factored into your monthly cash flow.

And more good news – Some equipment leases also qualify you for tax credits. Here is a great article that will show you some great tax write offs for Small Business in Canada:

http://madanca.com/blog/tax-write-offs-for-small-business-in-canada-by-accountant-toronto/

Considering an equipment leases for your business? If you’re looking for information to help you choose the one that’s right for you please contact us today and we will be happy to go through different leasing plans that suit your needs and most importantly – your 2017 Budget!

Romancing The Copier

Aug 3 , 2016 by Deb Sands

To operate successfully in today’s competitive market, especially during this recession, businesses need to have the most up to date equipment.

For instance, your copier has finally given up the ghost… and as you know, office equipment can be extremely costly and many businesses simply couldn’t afford to buy printing or computing devices if they had to purchase outright.

Leasing contracts for office printers enable businesses to use exactly what they need, but at prices that are easy to budget for, along with substantial tax benefits. When you take out a leasing contract, the equipment is delivered and installed. You then simply pay the agreed monthly or annual fee for the duration of the agreement (usually somewhere between 1-5 years).

Servicing, maintenance and even consumables can be added, although the equipment remains the property of the lease provider throughout the term. Once the contract ends, the equipment is returned, upgraded or sometimes purchased at a substantial discount.

Whether you are buying or selling business equipment, leasing makes investment easy and quick…. for you and your customers.

Minimise risk – protect yourself from depreciating technology costs
Release cash – free up your money in other areas to drive growth
Eliminate uncertainty – fixed rental payments help you budget and plan

Deciding whether you should rent or purchase a printer, photocopier or multifunction device will come down to the volume of your printing needs and how much budget there is for an initial outlay. It may be that you only need a low cost, low volume device, which would probably work out cheaper to buy.

However, for more expensive and higher volume machines, the initial cost may be too great, or you may wish to spread out the costs of servicing and consumables. In which case, renting your printing equipment could be the perfect solution. Before you decide, make sure you work out the cost per page of each option.

Spinal Tapped – Leasing versus Buying

Apr 1 , 2016 by Deb Sands

Did you know that 1 in 5 office workers take up to three weeks off each year due to workplace health problems, in particular lower back disorders and neck/shoulder disorders? As these numbers increase… more and more people are recognizing chiropractic treatment as an effective method of managing back pain.

This high demand for chiropractors makes it an excellent career path and that means more offices are being opened, and existing clinics are upgrading their equipment for the influx of new patients.

Planning On Opening Your Own Clinic?

If you intend to practice traditional manual techniques then you will need less money for equipment than someone who wants to be a pro-adjuster, atlas-orthogonal or similar Chiropractor. If your technique requires specialized tables or equipment, this can increase your costs by thousands of dollars. You will also need to budget money to be used to remodel the clinic, purchase digital x-ray equipment, software upgrades, ultra-sound machines, cold lasers, heat lamps, electric stimulators, furniture, stationery, and other start-up expenses…. Starting to feel Spinal Tapped?

Should You Buy or Lease Chiropractic Equipment?

Whether you are a new start-up or revamping your current clinic, the cost of new or even used equipment is high and it is important to evaluate the costs and benefits by performing a break-even analysis.

Equipment can be leased with little or no upfront capital and lease payments matched to expected machine revenues/cash flow, thus allowing you to stay on the forefront of your practice. By leasing, you can write the payable off in your Leasing allows your practice to have access to a higher standard of equipment than your business could afford if buying it outright.

Bottom Line: Let how you practice be dictated by your passion… and let how you profit be by design…

Radical Times….

Nov 12 , 2015 by Deb Sands

Radical times call for radical ideas and here’s one you might not have considered! If you have extra offices in your overall office plan, why not think about renting them out?

If you have an office that isn’t in use, then renting out your office space to someone who needs it, at a suitable cost, can be a great way of making extra income for you. Plus, your tenant gets a comfortable space to work in without the hassle and financial commitment of renting their own space.

Renting an office can be expensive for many small businesses and start-ups, especially if it is a “one-person” operation. A desk, a chair and a computer may be all that is required and the last thing an entrepreneur wants to do is fork out loads of money in rent.

So, why should you rent out those empty desks in the corner of your office? Well the first and (arguably) most important reason is the additional revenue!

The price you charge for renting out your office pace will depend on what facilities you are making available. Does your office include the use of the office printer, photocopier, internet, telephone line(s), etc.? What about furniture, computers, storage… and even artwork?

What happens if your rental office space is bare… do you go out and spend more capital… or take out a business loan to dress it up?

When thinking of office furnishings… including the cost of the furniture itself as well as supporting technology, installation, service and delivery… business owners are urged to consider value in terms of their use, not in ownership.

Did you know that you can lease everything you need to outfit the extra office… even artwork… and you can include the lease payment in the tenant’s rent?

Compared with other financing methods leasing is easier than securing bank loans and is just as competitive. Payments are based on fixed and not floating rates, and leases can be structured to support the needs and goals of a business, not the bank. Also, you can also offset the rental against your business profits and reduce your overall tax bill!

Another benefit is the potential for collaboration…“desk” renters may be able to provide you skills, expertise or even a product that could benefit you and your company. Even if you don’t end up working together, new faces tend to bring a bit of freshness and energy to the office.

Bottom Line: Renting out office space is a win-win for both the landlord and the tenant!

Breathless!

Sep 18 , 2015 by Deb Sands

With the recent fires in Washington and B.C., there is a renewed interest in air quality both inside and out. Calgary’s air quality this summer has been keeping us literally breathless.

Historical air quality studies have shown that during a regular rush hour, the highest the fine particulate matter (PM) should be is 30 or 40 micrograms per cubic metre, however, during the weeks of the fires the levels of fine PM were at 170 micrograms – three times our highest levels!

The World Health Organization (WHO) has provided evidence that outdoor air pollution increases the risk of cancer. So while this news isn’t surprising, it highlights the need for action on air pollution.

The main sources of air pollution include transport, industry, fossil fuel power stations, farming and fuels people use to cook and heat their homes. While many of us think of air pollution as only being an outdoor problem, indoor air quality affects people in many different industries including disaster restoration, agriculture, medical, industrial and commercial.

Indoor air quality has a major influence on the health, comfort and well-being of building occupants. Poor air quality has been linked to Sick Building Syndrome, reduced productivity in offices, absenteeism with the common flu and cold viruses, asthma, COPD, and even impaired learning in schools.

How can we tackle indoor air pollution?

On average we spend 90 per cent of our time indoors either at home, at school or in the workplace. Our homes are often not the sanctuaries we believe them to be. Therefore, the first step toward healthy breathing is ensuring pure air inside our homes and workplaces does not have a negative impact on our health.

When you think of it… pollutant sources include outdoor contaminants from traffic and industry, which is tracked through buildings by infiltration and through ventilation systems, as well as sources of indoor pollution, which include:

• Mold and pollen
• Tobacco smoke
• Household products and pesticides
• Gases such as radon and carbon monoxide
• Materials used in the building such as asbestos, formaldehyde and lead

Usually indoor air quality problems only cause people some discomfort. Most people feel better as soon as they get rid of the source of the pollution.

However, some pollutants can cause diseases that show up much later, such as respiratory diseases or cancer.

Making sure that your building is well-ventilated and getting rid of pollutants can improve the quality of your indoor air. Ensuring indoor air quality in buildings involves a three-tiered strategy of source control, ventilation, and air filtration. Air filtration is arguably the most important of these.

All workplaces should have proper ventilation and filtration. The most important advanced filtration technologies are HEPA (high-efficiency particulate air) and activated carbon. An adequately-sized room air purifier system removes 99.97% of all particulates down to 0.3 microns in size. It also removes allergens, bacteria, chemicals, gases, viruses and mold spores.

We are a good example… behind our offices at Priority Leasing there is a warehouse where large machines cut granite exposing the air to crystalline silica dust. When we first moved in, we found when we put white filters in our air vents… they were black within a few weeks. So we invested in two HEPA air cleaners for our own health. Almost immediately we felt better, had more energy, and knew the air was cleaner… not to mention saving the cost of new filters every few weeks.

At Priority Leasing we work with Patrick Kryczka of Environmental Air Cleaning Ltd. (www.envair.ca), who carries all sorts of equipment to help you breathe easier. From Odorox® SanX™ to Mobile Disinfectant Units to HEPA equipment all created for eliminating bacteria, virus, and chemical off-gassing typically found in public spaces within enclosed buildings.

The cost of HEPA filters varies, and many times a company does not have the budget for this equipment. The good news is… this equipment can be leased! Leasing can be an effective way for you to finance expensive filtration systems and many other business needs. Other benefits of leasing include:

Seasonal payment plans, which allow you to match payments with cash flow requirements.
A tax write off against revenue.

Ability to acquire equipment for a predetermined time frame acting as a hedge against asset obsolescence.
Contact Priority Leasing to find out more about your options.

Clean Air = ROI
Photo source: Calgary Herald, August 2015

A Win-Win for Condo Boards and Owners

Sep 9 , 2015 by Deb Sands

As Calgary continues to rapidly urbanize and grow in population, so does the demand for condo-style residences.

Despite impending interest rate hikes and subsequent fears of a housing market crash, condo complexes are still being built and equipment financing is making more and more sense.

Lately we’ve been financing more equipment for condominium corporations, and here’s why. Whether they need a new boiler, fitness equipment or a security system, a condo complex will often need critical equipment immediately.

More and more condominium corporations are leasing, especially when dealing with major emergency purchases

OK. Maybe a treadmill or elliptical doesn’t qualify as “critical” but there is some urgency when the boiler goes in December, or the tenants cars are constantly being vandalized due to poor security.

So here’s the thing. When the time comes to replace features that are common elements, the reserve fund can be used. But boards cannot refuse to fix the damage because “there is no money.” Rather, the board has to raise fees, do a special assessment, or take a loan to top up the reserve fund. They can save for years to be able to afford to pay cash for the new boiler or security system. OR, they can get it right now and start making lease payments.

Leasing lets condos avoid big upfront costs

With leasing, you don’t have the big upfront costs you’d face if you purchased the equipment outright or the deposit for a loan.

You generally just have a flat monthly payment over the lease term, with the first payment needed to start the lease. And here’s another thought to consider …. With a lease, everyone shares in the payment, and everyone enjoys the benefits. And once the equipment is paid off the condo association may elect to continue collecting the same condo fee. That additional income now goes into the associations’ coffers for the next emergency or opportunity. No special assessments needed!

Sounds like a savvy win for condo boards and condo owners alike!

Spotty Credit Doesn’t Always Mean The End Of The Story

Jul 31 , 2015 by Deb Sands

I had an interesting chat this week with a fellow who installs roof gutters in Saskatchewan. We had originally quoted him a lease payment of $302.00 per month, but after exploring his credit we found many blemishes. And we often see this. Life happens and sometimes bills get away from us.

So unfortunately, I had to tell him that his lease payment, due to his credit issues, would now be closer to $479.00 per month.

His response was….. “You know, I get paid about $900.00 per month to install a gutter system on someone’s house. So I only need to do one ½ house per month to afford this machine. If I can’t find one ½ house to do every month, I need to pursue another career!”

The point is he wasn’t all that concerned with the extra finance charge because he was 100% certain he could afford the payment and with the new equipment, he could catch up on his bills and re-establish his credit.

He had faith in himself, and understood leasing.

Do you have a similar story? Although it’s not easy getting a credit manager to see past slow payments and poor credit, a good story, a contract or a solid plan will always help. Should we talk?