Signing an Office Lease
Signing an office lease is major committment for any business. You need to be absolutely certain that you are making the best decision for your business and that the terms within the lease are favourable to you as a tenant.
You should always seek legal advice from a qualified Property Solicitor before making any decision and signing over anything. This will give you peace of mind that everything that you've verbally agreed with the landlord is accurately documented, and protects you from any disputes with your Landlord during the course of your tenancy.
Here are 5 important questions to ask before signing an office lease:
1. Who pays for what?
Make sure you are absolutely clear about what is (and isn't) included in the office lease. While some costs may be included and paid for by your Landlord, others will need to paid for by the tenant. You will need to ensure you have the financial security to meet these costs and that they are accurately budgeted for.
2. Will the Rent go up?
Depending on the type and length of office lease you are signing, your rent is likely to increase over the course of the tenancy. Find out when that is and whether it is in line with current market conditions.
3. What are the Restrictions within the Lease?
Restrictions may include how you intend to use the property (for what purpose) and also restrict subletting. Make sure you research both these areas before making a committment.
4. What happens at the end of Lease?
Find out what your tenants obligations are at the end of the lease; the state of repair you have to leave the property, and what about if you want to vacate the property before the expiry date? Find out whether it's possible and on what terms.
5. Who are the other Tenants?
Find out what areas of the property are common to other sharing tenants and neighbours. Also find out a bit about them and make sure none of the other tenants would be undesirable to have in close proximity to your business.
All these questions (and more) are best dealt with via your Property Agent and clarified with a Property Solicitor before you sign an office lease.
Wherever you are in your office move process Help Moving Office has the information you need to plan your office move properly.Start Planning
With over 20 guides, checklists, tools & calculators the Resource Centre has everything you need to plan, organise & manage a successful office move.See Resources
Looking for the right companies for your office move? Connect with independently sourced and pre-qualified companies that are experts in your local market.The Directory
How do I even begin to plan an office move? Good question ... read on to find out how best to tackle the planning of your office move.Read Article
The challenges and logistics of an office move can sometimes feel overwhelming. This guide helps you understand the timeframes and costs you are likely to incur so you know more about what to expect when you move office.Read Article