Renting an office: 13 pitfalls you should mind

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If you decide to rent an office, do not rush to rent the first premises offered. While choosing an office, you may face with a lot of pitfalls that will deplete most of your budget, and this is highly undesirable for a beginning businessman! Rent offices faster and cheaper - visit https://jiji.ng/commercial-property-for-rent!

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1.  Price without VAT

The price in fact will be 15-25% higher than planned.

2. Additional services

Sometimes you will need to pay extra for the guarding services, utilities, cleaning of premises, garbage, etc. It is important to clarify this before signing the contract!

3. Parking for an extra charge

Find out in advance how much it costs to secure a parking lot for your car - it can be very expensive.

4. Penalties

There may be big penalties for late payment. The norm is 0,1%, if they ask for more - ask to lower it down or ask for something else to compensate the expenses.

5. Documenting counters

If you’re going to pay for electricity and other services according to the counters, write down the readings on the first day of rent.

6. Sublease

As a subtenant, make sure that the owner is not against sublease.

7. Office in apartment

Do not rent as an office those apartments that are not documented as commercial premises - it's illegal!

8. Right for priority lease

Specify in the contract your right for lease prolongation after the end of its term. Otherwise, your office will be let to another company without your even knowing about it.

9. Access to the office

Many office centers work on schedule and you won’t be able to get into the office before and after the working hours. If your schedule is not standardized - discuss this in advance.

10. Cheaper isn’t always better

Do not look for the cheapest offices, because they will often have significant flaws. No one will offer good offices at ridiculously low prices.

11. Information about the lessor

Before the lease, talk to future neighbors and find out about the landlord. This way you can get exclusive information!

12. Don’t make it extreme!

Do not rent offices on the last floors (the roof may leak), in basements (lack of good ventilation and daylight, depression).

13. Inspection time

Come see the office during the peak hours: this way you will assess the real time to get there. Check the availability of free parking spaces, space in elevators, etc Follow these tips based on real experience - and save lots of your money, time and nerves. That’s a proven fact!

3 Comments

  1. Dopified Ben

    August 16, 2017 at 10:02 am

    thanks for this tips!! very helpful

  2. Ikechukwu Ikechukwu

    August 16, 2017 at 6:13 pm

    Noted; On point tips.

  3. Faturoti Oluwafemi

    August 16, 2017 at 7:25 pm

    Very useful tips for a starter.