Key Questions To Ask Before Signing An Office Rental Contract

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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. There are things you need to know and questions you need to ask yourself. We’ll take a look at those questions below.

Rent Amount

This is the first question you need to ask. Knowing this ahead of time helps in coming up with the sum cost of what you need to sustain your business. Note that you need to have rent in advance for the next few months until your business has a steady income of revenue. You should take into account that the rental rates will affect your capital too.

Rent Increment

The real estate industry is experiencing fast growth which may affect rent increments. It is prudent for businesses to take this factor into account before going for an office space. They should find out their needs and if they are able to support any increases in rental rates.

Renting Period

You should first factor in how long you wish to have the office space for lease. In most cases, a business will sign a long-term lease contract for an office space. This has its own advantages too. However, you ought to go into such a contract with a clear mind of what you want. With a short term renting contract, you may also have the advantage of moving your office to a prime area in case it shifts. Businesses should consider renting offices with flexible leasing durations such as GreenHub Singapore, which provides affordable rates for both long and short term leases.

Business Size

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 that you are not using currently means that you have an opportunity for expansion. In addition, you may consider having access to meeting or conference rooms. So, it is ideal for you to consider your business size and needs.

Renewing Contracts

Do you get to renew the renting contract? This is especially when you intend to sign a short term contract. Modern businesses may be dynamic and can change their location every few years, so that is an important factor to consider too. If you can’t foresee the location of your business in the future, then rental offices such as GreenHub Singapore can provide flexible contracts that can cater to different durations too.