What To Consider Before Signing Your Office Lease
Before You Sign Your Office Lease
Finding the perfect office space is an exciting and nerve wracking time, especially when it comes to signing your office lease. A lease is a massive commitment for your business and you need to make sure that you have all your bases covered. Make sure you are absolutely happy with your lease terms or your exciting new office prospect could turn bitter.
When signing any legal document it is essential to seek out legal advice from an expert Property Solicitor. This will give you peace of mind that everything that you've verbally agreed with the landlord is accurately and legally documented.
To put your mind at rest, here are 5 essential points to review before signing your new office lease:
- It is important to be absolutely clear about what is and isn’t included in your new lease terms. While some costs may be included and paid for by your Landlord. Make sure you have the financial security and that your budget accommodates any extra costs involved with your new business premises.
- Depending on the type and length of office lease you are signing, your rent will more than likely increase over the course of the tenancy. It is essential to find out when that is and whether it is in line with current market conditions.
- Investigate any restrictions that your new property may have. Make sure you stipulate how your business intends to use the property. Research these areas before signing anything.
- Find out what your obligations are at the end of the lease. You will need to find out what state of repair you will have to leave the property in once you leave and if there is a clause for your to vacate the premises before the expiry of the lease.
- Get information on your neighbours or other sharing tenants. Make sure they are not undesirable as your business will be in close proximity. Everybody needs good neighbours!
For any queries or questions about office lease always consult your local Property Agent or Solicitor for the correct advice and direction.
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