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Things To Consider Before Signing An Office Lease

You have started a new business, or your business has grown. You need office space, and the property purchase is not an option. What are you doing? Go for leased office space. Before you sign a leasing office, you need to keep certain things in mind.

1) Location:

The choice of location depends on your business. Do you, for example, working in the field related to the law? Then maybe you should be near the courthouse or library. If you need to interact with your clients a lot personally, then you need to rent office space near them. You can know about office leasing through https://www.officetour.com/.

2) Lease Term:

How long do you want to rent an office? Most of the office space to be rented for at least three years.

3) Business Expansion:

If your business grows, you may need additional space. Does the property have the extra space? You may need to discuss this with the previous owner of the rental.

Office space leasing dropped by 60% in six cities : Report - The Economic Times

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4) Liability:

Some landlords may require a personal guarantee from your side. If you are not comfortable with it, find owners who do not need it. Try to get the owner to limit liability for lease rent.

5) Rent:

You can rent your office if your business does not succeed? It will also help you avoid lease penalties to pull out early.

6) Renovation:

The renovation needs of the property before you move in? Who will bear the cost of renovation? These questions should be discussed in detail before you sign the office lease.

7) Damage:

What is your obligation? If the building suffered damage during your term, how much you have to pay?

8) Utilities:

How much of the electricity bills included in the rent? Whether you will be allowed to set the thermostat in accordance with your needs? How often is a trash removal service? Get the answers to all these questions before signing a lease.

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