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What to look out for when renting office

June 2, 2015 | 3 Comments

Renting an office is not a simple affair, when it comes to sourcing for the location of the place that you will be basing your big business of the future in you should spend some time and effort to put into the search of the location.

There are a few things that you should pay attention to when you are looking for an office space for rent in Singapore and here are some of the pointers that we think you should look into and pay close attention to when you are looking to rent an office in Singapore.

  1. Singapore has very different legal rules from other place

You are new to the place and you are looking for a location that is good for you and your family perhaps, and you are also looking at a location that is good for your staff to get to and from work, this are the many requirements that you should be concern about and to find out about.

You have to also learn some of the legal rules that might be different from your home location, renting an office in Singapore might mean different leasing terms or there might be different contractual agreements that you need to watch out for, for example, and fire safety and workplace safety requirements. Get an agent or a consultant to help your sieve through all this pile of paperwork and shorten your pain.

  1. Singapore has free hold, 999 years and 99 years leases

If you are new to the country you may not be aware of the 999 year or 99 years lease holds that may be something new to you who comes from a country where freehold is such a common thing that you don’t even care about it.

There are items to look at such as depreciation since you have a limited lease and this will also concern the renting person because this may mean that those with smaller lease may be cheaper to rent since they do not have to pay that much for the property in the first place.

  1. There are locations that may seem good but not very accessible or worth the money

You are not the person roaming the area, if you see it on the map being located near certain place, you may have the false impressions that it is good but not for many people. For someone who is new to Singapore if you are coming from overseas, finding a gem in the area is almost not possible, even worse still if you are looking at the location from online office rental portals. Find your shenton way office rental space Singapore.

  1. There are rental rates that may be higher than you should be paying for

Negotiations are best done through someone who is familiar with the closing rates of those around the area, with the information available to the agents who are familiar to this locations and also from their agency, they can best advise you at which point you should accept the deal and when not to. This is something that could mean a lot to you when the few cents negotiated down may mean thousands of dollars of savings for your business in the long term.

 

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