Frequently Asked Questions
When should I start to kick off renewal/relocation project?
Depends on the complexity of cases and office sizes but it can be as early as 1 year for sizeable office or specific location requirements. Always refer to your current lease contract for the minimum notification period for lease termination and the execution condition of option year lease.
I don’t know how and where to start to research for relocation options. Any suggestions?
There are always lots of office space options in the market and it’s too time consuming to view them one by one. We suggest to start with clear objectives such as setting certain budget and location preference.
There are also concerns about the development of different districts which may affect your decision on location picking. Contact us for detailed option analysis and select feasible (or eliminate) options.
What is fittedoffice?
Fitted office is defined as the commercial premises with renovated conditions or setting ready to use or with minimum setup works required for business operations. It is usually equipped with rooms and fixtures, server room, storeroom, and/or pantry in usable conditions.
We have sorted out fitted office spaces across different districts in detail descriptions for your easy selection. You can easily view the interior conditions online which make site inspection efficient! You can contact us then for on-site inspection afterward.
What make fitted-office / renovated office so valuable?
Most landlords require reinstatement of premises by tenant upon lease expiry in lease contract. It means that the tenant shall reinstate the office into bareshell conditions, or specific provisions as required by landlords, at tenant’s costs upon lease expiry. It creates a win-win situation for both sitting tenant and incoming tenant should the interior decoration be taken over. Some fitted office space lasts only short period of times.
You will usually be provided an accurate figure which shows the maximum amount that you are approved for. Most sellers prefer buyers that have been preapproved because they know that there will not be any problems with the purchase of their home.
If I picked a fitted office, does it mean I have no extra costs on renovation and can move in and start work right the way? What else I need to take care?
The answer is Yes and No depends on the office interior conditions and layout. It is yes if you found an office totally fit for your business operation and you do not need further modification works. It is no if the office interior condition is too old or it needs to be modified to fit your customized use. Consult us and your contractors for more details like the estimated works and costs for such modifications.
What’s the budgeting for office lease usually?
Budget Equation: rent + management fee + air conditioning charge (for central a/c system buildings) + government rates + government rents (if any) Please also noted some other costs associated with a lease contract:
- legal costs
- stamp duty
- vetting fee
- security deposit
Consult us for more details in budgeting!
What can I do if I want to terminate lease contract prior to lease expiry?
Since you are bound by lease contract, unless the landlord agrees to cancel the lease, you are obligated to execute the lease contract until lease expiry.
We can step in and lead the replacement project. We are experienced in dealing with early lease termination cases and have successful cases of introducing new tenant to replace the existing lease. We make sure smooth procedures, and take care of risk and time management throughout the replacement project. Contact us now for details and proposals.