Office Lease Checklist
Pay close attention to this Office Lease Checklist when negotiating an office lease to ensure you get the very best office lease deal possible.
There's a lot to understand when renting office space - particularly in relation to the office lease which legally binds your agreement on the property with the Landlord. This Office Lease Checklist will give you a basic understanding of the issues you need to clarify when negotiating your office lease:
Office Lease Checklist
- Determine the monthly payment, rental deposit and conditions of its return
- Clarify the length of lease
- Whether the rent you pay covers utilities, insurance, maintenance etc. It is best to clarify beforehand who is responsible for all these issues so there is no confusion or dispute once the lease commences.
- Whether there is an option to renew the lease - and on what terms
- How the lease should be terminated at the end of the term, and whether there is a break clause to exit the lease prior to its expiry
- Whether there will be any improvements to fixtures or the building prior to your occupation, or whether the Landlord is prepared to contribute towards any office fit-out costs as a cost incentive
- Whether the lease can be assigned or sublet - a handy provision should your financial circumstances take a turn for the worst and you need to review your options
- Provisions for the office fit-out - what improvements can be made to the property and whether these works need to be "reinstated" at the end of the lease
- Define exactly what space is exclusively yours and which areas are "common" areas
Office Lease Costs
Keep in mind that besides the rent, there are other costs associated with an office lease; including business rates, services charges and any ongoing maintenance on the building that the tenant is responsible for. It's important to clarify with the Landlord all the costs associated with the Office Lease Agreement so you can factor these into your Moving Office Budget.
Before signing any office lease, always seek professional advice from a Property Solicitor to ensure your legal and commercial interest are protected. Find a Property Solicitor in your area here.
