Agreeing the terms of your Office Lease
This simple office lease checklist will make sure the office lease terms you agree are reasonable, competitive and right for the requirements of your business.
You’ve found the right office space and now it’s time to tackle those all-important office lease terms.
Having a good Property Consultant on side is essential at this stage of the moving office process. They have the expertise in negotiating suitable office lease terms for tenants and making sure that a competitive office rent is secured.
Remember that an office lease is a long-term commitment (office leases average between 5-10 years) so you will need to ensure your business is able to commit both financially and operationally throughout the duration of the office lease. Failing to do so could have unavoidable costly consequences further down the line.
Before your Property Consultant starts arranging the terms of your office lease, do your homework and give yourself the peace of mind that you are getting the best office lease deal possible:
- Make sure you know what office rents are being achieved in your locality, as well as the actual lease terms upon which these deals are being done.
- Find out how long the space has been on the market and how much office space is available in the local vicinity.
- Be sure to factor in future growth/contraction plans and ensure the office lease provides enough flexibility either way to adapt to the changing needs of your business.
- Ask for everything you agree in writing from your Landlord.
- Move quickly if you feel confident – but if you feel pressurised or if something doesn’t feel right – be prepared to walk away.
- Don’t sign any legal contract unless it has been scrutinised by an experienced Property Solicitor.
Read more tips on finding office space and agreeing office lease terms.
Don’t move office without a Moving Office checklist to guide you through every step of the way.
