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How to choose space for your business

Updated on March 2, 2011

What to consider in a rental agreement of commercial real estate.

It is well-known that demand for office real estate has a trend to increase. Currently there is a lack of good office spaces. So customers look for any space that fits the office requirements more or less.

Many companies try to conclude a rent contact as soon as possible being tempted with a price. Sometimes this costs them a lot. Of late years, renters often go to law with their occupants regarding changes in rental rate, decreasing of an occupying office space, charging the additional fees in favor of a renter, terminating lease etc.

To protect themselves from such problems, occupants should carefully study every point of a contract and make corrections if required.

It is desirable to describe the subject of agreement, i.e. give special attention to description of a office space for rent. It would be great to have a floor plan for a rented office attached to a contract.

If a renter offers parking place, wire and wireless IP-telephony and Internet access, you should make sure these services are listed in the rent agreement. It is strongly recommended to specify monthly and yearly rental rate.

If a renter will demand paying of landlord fee for the last month, you should provide the mechanism and terms of repayment of this fee for lease termination or if renter don’t want to prolong rent agreement.

In addition, it is advisable to provide decreasing of rental rate in the case of accidents in an office that don’t caused by an occupant (for example, when continuous power outages, failure in elevators work, etc.).


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