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Dear Ken:
I have a client who wants to lease an $8,000 video surveillance system I designed for him for 36 months, with the option to renew, in case they do not vacate the space on schedule.
If 'buy out' clauses are a part of the typical lease then one of those too.
If lease agreements come in different flavors, advise the most direct way for me to get the document created, and in my client's hands so we can roll on the install.
My employer is willing to be the bank, rather than use a third party leasing company.
How much and how fast to draft the lease agreement?
Best Regards,
Tim O'Leary
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Answer:
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The Standard CCTV Lease sounds like exactly what you need. This contract can be used for CCTV with local DVR or for a CCTV system that communicates with a central station for video monitoring and data storage.
Like a true lease there is no buy out option. I've suggested that you stay away from those types of relationships. For one thing permitting the dollar buy out can trigger federal disclosure laws and alarm contracts typically do not comply with those laws.
You will find that the CCTV lease [or the CCTV Sales contract ] will suit your needs. It will cover the installation and continued RMR over the life of the lease.
The CCTV Sales contract covers intallation, service and monitoring of the system, or any of those services of not all are selected.
Although my prediction that CCTV alarm verification will be required and common place soon, it hasn't happened as fast as I thought, but I still think it's the near future for the industry. Guard response verification, required in some jurisdictions, is costly and dangerous [for the guard].
Just yesterday I heard a story - plumbing supply owner's car got keyed and neighbor comes by to let him know. Then neighbor finds out his car was also keyed. They check out the video and see a "homeless guy" keying the cars. Before they call the cops the neighbor [construction business in Queens, NY] gets in his car, drives around the area, finds the guy [the "unsub' if you watch Criminal Minds] and "prepares" him for introduction to the cops. How's that for verification, NY style.
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