When searching for the best office renting space, it is important to be aware of the contract requirements. It is important to consider what is included in the contract to safeguard your money and renting period. Be sure to do this at the beginning of your lease of the business office rental in Singapore. There are things you need to know and questions you need to ask the landlord. The most important questions will include;
This is the next question you need to ask. Knowing this ahead of time helps in coming up with the sum cost of what you need to start your business. Note that you need to have rent in advance for the next few months until your business has a steady income. This rent should be part of your capital. Commercial rent is usually charged per square foot. Know how much the landlord will charge, determine if it is fair or not.
The real estate industry is experiencing fast growth which is turning to rent increment. Ask the last time the landlord increased the rent for the office. Also ask when the plan to increase. This will save you from paying higher rent within the next six months from your renting agreement is signed. Be aware of this before signing the renting contract.
You should first factor in the period you are willing to rent the office premises. In most cases, the landlord will try and talk you into signing a long term contract for your office space for lease Singapore. This has its own advantages, since the rent may be negotiated and lowered. It will also shelter you from inflation. However, you ought to go into such a contract with a clear mind of what you want. With a short term renting contract, you have the advantage of moving your office to a prime area in case it shifts.
Some landlords in the market will not allow you to sublease your rented office space. At the beginning of your business you may require a small space, but consider having a bigger space that will allow growth. Having cheap office space for rent you are not using means loss. Subletting the space will guarantee you ready space for expansion and rent for it. Some landlords will allow subleasing a limited space, so consider asking yours what pace they would consider reasonable.
Is the Contract Renewable?
Do you get to renew the renting contract? This is especially when you intend to sign a short term contract. If the landlord allows for renewal of the contract, ensure a clause to indicate this is included in the renting contract. Agree on a renewal method that works best between you and the landlord.
An additional question you may ask before signing the renting contract is the building services you get. This will vary from landlord to the other, and it is important also to ask who is responsible for renovation and improvements. Some of the services to seek include heating, electricity and cleaning. Ensure your comfort in the office space before signing the renting contract.