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Questions to Ask Before you Sign an Office Lease

If you've ever rented office space before, you'll know that committing to an office lease is huge responsibility, and it's also an expensive commitment for your business. Before you lock yourself into a lease, you need to be sure you understand what you are letting your business in for, and indeed, whether you are able to fully commit to the obligations set out within the lease.

Whilst every office lease is different, there are some crucial questions that every office tenant should ask their Tenant Rep Broker when viewing potential office properties and before you sign anything:

  • When is the rent due?
  • When will the rent be increased, and at what percentage?
  • How long is the office lease & what are my options to renew?
  • Is there a break clause?
  • If so, when can I exercise it?
  • What utilities are included in the rent?
  • Is there an option to sublease?
  • Who are the other tenants in the building?
  • What kind of buildouts or amenities will the landlord provide?
  • Who will respond to maintenance queries and how quickly will things be dealt with?
  • Will I be required to pay charges for maintenance, taxes or other costs often called a "triple net" or "net-net-net" lease?

Once you have clarified these questions with the landlord and your Tenant Rep Broker, and you are happy to go ahead with the property, make sure a Real Estate Lawyer reviews the office lease on your behalf. They will ensure everything is clearly documented and your interests are protected throughout your tenancy. A Real Estate Lawyer is also entirely independent from the landlord and protect only YOUR best interests.

 

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