Thinking of renting an office or a co-working space, but confused what all to consider? Don’t worry, this blog is going to tell the do and don’ts in looking for office for rent in India.
There have been many reports of innocent people getting tricked by landlords while renting office space from them. To save you from all this trouble, we are going to help you with how to go about looking for the perfect office space for rent.
We are going to help you with a legal checklist that you need to tick mark before you rent an office and co-working space.
- Business Terms
Once, you have received the lease the first thing that you need to check is whether the name of the landlord and tenant is given correctly or not. Moreover, you also need to see whether the square footage and the starting rent mentioned is right or not. Furthermore, whether the commencement and termination date given in the lease is in accordance with what was decided between you and the landlord.
- Operating Expenses
Another thing that you need to tick mark in your checklist is whether the operating expenses are listed down in your lease or not. You need to know what you are expected to pay beyond the rent of the office space. Often tenants do not pay attention to this, and then suffer because they weren’t aware of the operating expenses. Save yourself, from the trouble and go through the lease with reference to this.
- Provisions Regarding Subletting
Have a grasp over the subletting provisions mentioned in the lease. In most of the cases, you can’t sublet the office space to another tenant without the permission of your landlord. Also, you will have to continue to pay rent for the office space as the lease will hold you responsible for that even if you sublet the space to another tenant.
You might want to make some changes or improve the look of your office space. Get it cleared with your landlord regarding that because most of the time landlords are not very comfortable with changes being made, and you don’t want to land yourself up in a soup because you were unaware of this factor.
- Parking Space Available
Now, when you are renting an office space, you have to check in your lease whether parking space is available or not and how much of it is available. You will have employees working with you who will be bringing their vehicles and there should be adequate parking spaces available to them, otherwise, it will cause a lot of transport and parking issues for your employees.
Last but not least; be thorough with the insurance requirements in your lease. In case you find them to be too harsh, then you can try and negotiate with the landlord, and if they are prohibitively high, then maybe it is time to look for office space somewhere else.
Hence, follow this checklist which will make your renting process much easier and smarter and also save yourself from the trouble!