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as shops, schools, gyms and excellent wise to obtain an upfront estimate you are about to move into – it is not
transport hubs, thereby promoting from your prospective landlord so an allowance towards furniture and
work-life balance and convenience. that you can budget accordingly tenant-specific installations such as
and not be surprised at a later a bespoke server room. Understand
2. Who pays what in the stage. These costs include rent, how long your fit-out will take and
agreement? parking charges, operating costs, plan accordingly. The turnaround time
Tenants (who we call ‘clients’) should all utility charges, levies and your will depend on the complexity of your
always ask about common area proportionate share of rates and design and the size of your premises.
maintenance. What are common taxes. They are usually quoted VAT
areas? These are typically spaces exclusive. It is also important to 5. A vested landlord
shared by all the tenants in a building establish who your electricity supplier It is crucial to have a landlord who
or precinct and usually include is, as the tariffs charged can differ. is as committed to the partnership
services such as security, landscaping, as you are. Have a careful look at the
and cleaning, amongst others. As a 4. decking out your new common areas in the building or
tenant, one should clearly understand offices precinct you are about to move into,
what the common area services are Depending on the salient terms of establish the landscape and rules
and also what the tenant’s share of your lease (such as the rent and lease of engagement with the landlord
these costs will be once the lease period), you may be offered a tenant upfront and remember that the lease
agreement is signed. These costs installation allowance. This is an you sign with your landlord is the
are normally called ‘operating costs’ allowance provided by the landlord beginning of a long-term relationship.
and should be clearly defined to to assist with the fit-out of your new
avoid confusion later. Lastly, most space. It is often used to cover the costs In closing, when choosing the space
agreements hold tenants responsible of partitioning, carpets, painting and for your business, there are several
for the internal maintenance of the like. Ensure that you understand factors to consider, but what is
their exclusively leased premises. precisely what is on offer and what paramount is how your business
it covers, as various landlords have strategy lines up with the location and
3. Cost of occupancy different criteria. The important the landlord. Choose a location that
This refers to the total monthly fees principle is that this allowance must aligns with your business, employees
related to your tenancy. It would be be used to upgrade the premises and your other stakeholders’ needs.

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